CenterPoint Energy Inc. (NYSE:CNP) was downgraded by equities researchers at Credit Suisse Group AG from a “neutral” rating to an “underperform” rating in a research note issued to investors on Tuesday. They presently have a $25.00 target price on the stock, up from their prior target price of $24.00. Credit Suisse Group AG’s price target suggests a potential upside of 4.38% from the stock’s previous close. The analysts noted that the move was a valuation call.
Several other equities analysts have also weighed in on CNP. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. SunTrust Banks Inc. reissued a “hold” rating and set a $24.00 price objective on shares of CenterPoint Energy in a report on Tuesday, August 2nd. Deutsche Bank AG reduced their price objective on CenterPoint Energy from $24.50 to $24.00 and set a “hold” rating for the company in a report on Monday, August 8th. TheStreet lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Finally, RBC Capital Markets set a $26.00 target price on CenterPoint Energy and gave the stock a “buy” rating in a research report on Monday, August 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $23.02.
Shares of CenterPoint Energy (NYSE:CNP) traded up 1.44% during midday trading on Tuesday, reaching $23.95. The company had a trading volume of 1,219,436 shares. The company has a 50 day moving average of $22.82 and a 200 day moving average of $23.03. CenterPoint Energy has a one year low of $16.05 and a one year high of $24.71. The company’s market capitalization is $10.31 billion.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Friday, November 4th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. CenterPoint Energy had a positive return on equity of 15.00% and a negative net margin of 2.46%. The business earned $1.89 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the company earned $0.34 earnings per share. CenterPoint Energy’s revenue was up 15.9% compared to the same quarter last year. Analysts predict that CenterPoint Energy will post $1.19 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Wednesday, November 16th will be given a $0.2575 dividend. The ex-dividend date is Monday, November 14th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 4.30%. CenterPoint Energy’s dividend payout ratio (DPR) is presently -245.24%.
Large investors have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of CenterPoint Energy by 4.3% in the first quarter. Geode Capital Management LLC now owns 3,596,886 shares of the company’s stock worth $75,102,000 after buying an additional 148,845 shares during the period. PGGM Investments increased its stake in shares of CenterPoint Energy by 0.5% in the second quarter. PGGM Investments now owns 2,102,608 shares of the company’s stock worth $50,463,000 after buying an additional 10,567 shares during the period. Foster & Motley Inc. acquired a new stake in shares of CenterPoint Energy during the second quarter worth about $481,000. Hanlon Investment Management Inc. increased its stake in shares of CenterPoint Energy by 18.3% in the second quarter. Hanlon Investment Management Inc. now owns 561,481 shares of the company’s stock worth $13,476,000 after buying an additional 86,672 shares during the period. Finally, Conning Inc. increased its stake in shares of CenterPoint Energy by 3.4% in the second quarter. Conning Inc. now owns 10,332 shares of the company’s stock worth $248,000 after buying an additional 340 shares during the period. Institutional investors own 79.06% of the company’s stock.
About CenterPoint Energy