CenterPoint Energy, Inc. (CNP) Receives Consensus Rating of “Hold” from Brokerages
Shares of CenterPoint Energy, Inc. (NYSE:CNP) have been assigned an average recommendation of “Hold” from the nine research firms that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $29.20.
CNP has been the subject of several recent research reports. ValuEngine raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Zacks Investment Research cut CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. SunTrust Banks reissued a “hold” rating and issued a $30.00 price target on shares of CenterPoint Energy in a research note on Monday, August 6th. JPMorgan Chase & Co. raised CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 price target for the company in a research note on Wednesday, September 5th. Finally, Bank of America raised CenterPoint Energy from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 28th.
CNP traded down $0.03 on Friday, reaching $28.75. The stock had a trading volume of 108,307 shares, compared to its average volume of 2,404,599. CenterPoint Energy has a fifty-two week low of $24.81 and a fifty-two week high of $30.34. The company has a quick ratio of 0.83, a current ratio of 0.95 and a debt-to-equity ratio of 1.66. The stock has a market cap of $12.33 billion, a PE ratio of 21.01, a PEG ratio of 3.14 and a beta of 0.45.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 13th. Investors of record on Thursday, August 16th were paid a dividend of $0.2775 per share. The ex-dividend date was Wednesday, August 15th. This represents a $1.11 annualized dividend and a yield of 3.86%. CenterPoint Energy’s dividend payout ratio is currently 81.02%.
In related news, insider Milton Carroll sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $28.27, for a total transaction of $282,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott M. Prochazka sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $27.57, for a total value of $110,280.00. The disclosure for this sale can be found here. Insiders have sold 18,000 shares of company stock valued at $504,940 in the last ninety days. 0.22% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNP. BlackRock Inc. grew its stake in CenterPoint Energy by 13.0% during the second quarter. BlackRock Inc. now owns 45,260,445 shares of the utilities provider’s stock worth $1,254,170,000 after purchasing an additional 5,189,512 shares during the period. Millennium Management LLC grew its stake in CenterPoint Energy by 1,227.8% during the second quarter. Millennium Management LLC now owns 3,452,630 shares of the utilities provider’s stock worth $95,672,000 after purchasing an additional 3,192,603 shares during the period. Canada Pension Plan Investment Board boosted its holdings in CenterPoint Energy by 2,384.3% in the second quarter. Canada Pension Plan Investment Board now owns 1,232,730 shares of the utilities provider’s stock worth $34,159,000 after acquiring an additional 1,183,109 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in CenterPoint Energy by 27.9% in the second quarter. Acadian Asset Management LLC now owns 4,640,194 shares of the utilities provider’s stock worth $128,578,000 after acquiring an additional 1,012,520 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in CenterPoint Energy by 39.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,795,150 shares of the utilities provider’s stock worth $77,453,000 after acquiring an additional 791,903 shares in the last quarter. 77.28% of the stock is owned by institutional investors and hedge funds.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
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