CenterPoint Energy (CNP) Lowered to Neutral at Guggenheim
Guggenheim cut shares of CenterPoint Energy (NYSE:CNP) from a buy rating to a neutral rating in a report issued on Monday, MarketBeat reports. The analysts noted that the move was a valuation call.
A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of CenterPoint Energy from a hold rating to a sell rating in a report on Tuesday, November 28th. Citigroup upped their target price on shares of CenterPoint Energy from $27.00 to $30.00 and gave the company a neutral rating in a report on Monday, November 20th. Bank of America initiated coverage on shares of CenterPoint Energy in a research note on Tuesday, October 24th. They set a neutral rating and a $30.00 price target on the stock. J P Morgan Chase & Co set a $30.00 price target on shares of CenterPoint Energy and gave the stock a hold rating in a research note on Thursday, October 12th. Finally, SunTrust Banks reiterated a hold rating and set a $30.00 price target on shares of CenterPoint Energy in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company’s stock. CenterPoint Energy presently has a consensus rating of Hold and a consensus target price of $28.89.
Shares of CenterPoint Energy (NYSE CNP) opened at $28.86 on Monday. CenterPoint Energy has a 1 year low of $23.75 and a 1 year high of $30.45. The firm has a market cap of $12,461.18, a price-to-earnings ratio of 22.07, a P/E/G ratio of 3.85 and a beta of 0.62. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 2.08.
CenterPoint Energy (NYSE:CNP) last announced its earnings results on Friday, November 3rd. The utilities provider reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the company earned $0.41 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. equities analysts predict that CenterPoint Energy will post 1.31 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 16th will be given a dividend of $0.2675 per share. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.07 annualized dividend and a yield of 3.71%. CenterPoint Energy’s payout ratio is currently 78.10%.
In other news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $29.08, for a total value of $29,080.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 3,000 shares of company stock worth $88,080 over the last quarter. Company insiders own 0.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CNP. APG Asset Management N.V. grew its position in shares of CenterPoint Energy by 410.6% in the third quarter. APG Asset Management N.V. now owns 7,214,510 shares of the utilities provider’s stock valued at $210,736,000 after purchasing an additional 5,801,591 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of CenterPoint Energy by 8,190.9% during the second quarter. Janus Henderson Group PLC now owns 4,550,195 shares of the utilities provider’s stock valued at $124,585,000 after buying an additional 4,495,313 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of CenterPoint Energy by 145.5% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 4,350,657 shares of the utilities provider’s stock valued at $127,083,000 after buying an additional 2,578,527 shares during the period. Wells Fargo & Company MN lifted its stake in shares of CenterPoint Energy by 171.0% during the third quarter. Wells Fargo & Company MN now owns 3,457,855 shares of the utilities provider’s stock valued at $101,004,000 after buying an additional 2,181,883 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of CenterPoint Energy by 3.7% during the second quarter. Vanguard Group Inc. now owns 49,060,465 shares of the utilities provider’s stock valued at $1,343,275,000 after buying an additional 1,767,259 shares during the period. Institutional investors and hedge funds own 77.98% of the company’s stock.
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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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