JPMorgan Chase & Co. Boosts CenterPoint Energy (NYSE:CNP) Price Target to $47.00

CenterPoint Energy (NYSE:CNP) had its price target increased by stock analysts at JPMorgan Chase & Co. from $45.00 to $47.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 9.69% from the company’s previous close.

Several other analysts also recently issued reports on CNP. Bank of America raised their price target on CenterPoint Energy from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. BTIG Research started coverage on shares of CenterPoint Energy in a report on Tuesday, June 30th. They issued a “neutral” rating on the stock. BMO Capital Markets lifted their price objective on shares of CenterPoint Energy from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday. Jefferies Financial Group set a $50.00 price objective on shares of CenterPoint Energy in a research report on Thursday, June 18th. Finally, Barclays boosted their target price on shares of CenterPoint Energy from $38.00 to $44.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $45.31.

CenterPoint Energy Stock Up 0.3%

CNP stock traded up $0.13 during midday trading on Thursday, hitting $42.85. 2,977,855 shares of the company’s stock were exchanged, compared to its average volume of 5,555,510. The firm has a 50 day moving average price of $42.96 and a 200-day moving average price of $42.07. CenterPoint Energy has a 12-month low of $35.94 and a 12-month high of $45.22. The stock has a market capitalization of $28.03 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 2.59 and a beta of 0.46. The company has a current ratio of 1.16, a quick ratio of 1.04 and a debt-to-equity ratio of 1.96.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Thursday, April 23rd. The utilities provider reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). The company had revenue of $2.98 billion for the quarter, compared to analyst estimates of $1.98 billion. CenterPoint Energy had a return on equity of 10.56% and a net margin of 11.38%.During the same period in the previous year, the business posted $0.53 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. On average, analysts anticipate that CenterPoint Energy will post 1.91 EPS for the current year.

Hedge Funds Weigh In On CenterPoint Energy

Large investors have recently bought and sold shares of the stock. Nordea Investment Management AB boosted its stake in CenterPoint Energy by 14.3% in the fourth quarter. Nordea Investment Management AB now owns 522,801 shares of the utilities provider’s stock worth $20,133,000 after purchasing an additional 65,440 shares in the last quarter. Ethos Capital Management Inc. acquired a new position in shares of CenterPoint Energy during the fourth quarter worth approximately $1,356,000. Allspring Global Investments Holdings LLC grew its stake in shares of CenterPoint Energy by 18.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 443,406 shares of the utilities provider’s stock valued at $17,173,000 after purchasing an additional 69,700 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of CenterPoint Energy by 1.1% in the fourth quarter. Capital Research Global Investors now owns 20,941,909 shares of the utilities provider’s stock valued at $802,916,000 after purchasing an additional 235,346 shares in the last quarter. Finally, Swiss Life Asset Management Ltd raised its position in CenterPoint Energy by 143.4% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 105,481 shares of the utilities provider’s stock worth $4,093,000 after purchasing an additional 62,151 shares during the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.