Zacks Investment Research lowered shares of CenterPoint Energy (NYSE:CNP) from a hold rating to a sell rating in a report published on Tuesday.

According to Zacks, “CenterPoint Energy’s results are subject to the impact of weather patterns, regulatory and judicial proceedings and fluctuating commodity prices. Again, dependence on REPs for timely payment of fees and a large amount of outstanding debt are deterring CenterPoint’s growth. Moreover, the company's shares underperformed the broader industry in the last three months. On a brighter note, the company has been strengthening its infrastructure through regular capital investment and acquisitions, which will help it to meet the requirements of an expanding customer base. Toward this end, the company continues with its capital expenditure plan of $7 billion from 2017 through 2021.”

Several other research analysts have also weighed in on the stock. Royal Bank Of Canada restated a hold rating and set a $29.00 price objective on shares of CenterPoint Energy in a research note on Monday, September 11th. Credit Suisse Group upgraded shares of CenterPoint Energy from an underperform rating to a neutral rating and boosted their price objective for the stock from $28.82 to $29.00 in a research note on Monday, August 14th. J P Morgan Chase & Co set a $30.00 price objective on shares of CenterPoint Energy and gave the stock a hold rating in a research note on Thursday, October 12th. SunTrust Banks reaffirmed a hold rating and set a $30.00 target price on shares of CenterPoint Energy in a report on Monday, October 2nd. Finally, BidaskClub raised shares of CenterPoint Energy from a buy rating to a strong-buy rating in a report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $28.89.

CenterPoint Energy (CNP) opened at $30.01 on Tuesday. The firm has a market cap of $12,749.97, a price-to-earnings ratio of 22.58, a PEG ratio of 4.08 and a beta of 0.64. CenterPoint Energy has a 52-week low of $23.57 and a 52-week high of $30.45. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 2.08.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Friday, November 3rd. The utilities provider reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. CenterPoint Energy had a net margin of 6.59% and a return on equity of 16.00%. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the firm posted $0.41 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. research analysts anticipate that CenterPoint Energy will post 1.31 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 16th will be issued a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Wednesday, November 15th. CenterPoint Energy’s dividend payout ratio is currently 78.10%.

In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $29.61, for a total value of $29,610.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Tortoise Investment Management LLC acquired a new stake in shares of CenterPoint Energy during the third quarter worth $120,000. Paradigm Asset Management Co. LLC boosted its stake in CenterPoint Energy by 2.2% during the second quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock worth $126,000 after acquiring an additional 100 shares in the last quarter. IHT Wealth Management LLC bought a new position in CenterPoint Energy during the second quarter worth $153,000. Pinebridge Investments L.P. bought a new position in CenterPoint Energy during the second quarter worth $154,000. Finally, Eagle Ridge Investment Management bought a new position in CenterPoint Energy during the third quarter worth $201,000. 77.98% of the stock is owned by institutional investors.

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CenterPoint Energy Company Profile

CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.

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