CenterPoint Energy, Inc. (NYSE:CNP) Receives Average Rating of “Buy” from Brokerages

Posted by on May 28th, 2022

CenterPoint Energy, Inc. (NYSE:CNP – Get Rating) has received an average rating of “Buy” from the sixteen ratings firms that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $31.31.

CNP has been the subject of several recent research reports. Morgan Stanley reduced their price objective on CenterPoint Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday, May 23rd. Mizuho increased their price target on CenterPoint Energy from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, April 6th. Citigroup raised their price objective on CenterPoint Energy from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, February 23rd. Wells Fargo & Company raised their price objective on CenterPoint Energy from $31.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, April 19th. Finally, UBS Group raised CenterPoint Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $27.00 to $30.00 in a research report on Tuesday, February 15th.

NYSE CNP traded up $0.44 on Friday, reaching $32.42. The company had a trading volume of 3,395,068 shares, compared to its average volume of 5,091,237. The stock’s 50 day moving average is $31.18 and its 200-day moving average is $28.78. The stock has a market cap of $20.41 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 5.72 and a beta of 0.88. The company has a quick ratio of 0.80, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. CenterPoint Energy has a 52 week low of $24.23 and a 52 week high of $33.00.

CenterPoint Energy (NYSE:CNP – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). CenterPoint Energy had a return on equity of 12.10% and a net margin of 19.30%. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the company earned $0.59 earnings per share. As a group, analysts forecast that CenterPoint Energy will post 1.38 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 9th. Stockholders of record on Thursday, May 19th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, May 18th. This represents a $0.68 annualized dividend and a dividend yield of 2.10%. CenterPoint Energy’s payout ratio is 26.98%.

Institutional investors and hedge funds have recently modified their holdings of the company. Independent Advisor Alliance boosted its holdings in shares of CenterPoint Energy by 3.2% during the 1st quarter. Independent Advisor Alliance now owns 10,767 shares of the utilities provider’s stock valued at $330,000 after acquiring an additional 337 shares in the last quarter. Stonebridge Capital Advisors LLC lifted its holdings in CenterPoint Energy by 17.1% during the 3rd quarter. Stonebridge Capital Advisors LLC now owns 2,635 shares of the utilities provider’s stock worth $65,000 after buying an additional 385 shares during the period. New Mexico Educational Retirement Board lifted its holdings in CenterPoint Energy by 1.1% during the 1st quarter. New Mexico Educational Retirement Board now owns 36,597 shares of the utilities provider’s stock worth $1,121,000 after buying an additional 400 shares during the period. Panagora Asset Management Inc. lifted its holdings in CenterPoint Energy by 0.3% during the 4th quarter. Panagora Asset Management Inc. now owns 126,558 shares of the utilities provider’s stock worth $3,532,000 after buying an additional 413 shares during the period. Finally, Legacy Financial Advisors Inc. lifted its holdings in CenterPoint Energy by 4.9% during the 4th quarter. Legacy Financial Advisors Inc. now owns 8,860 shares of the utilities provider’s stock worth $247,000 after buying an additional 414 shares during the period. Institutional investors own 90.98% of the company’s stock.

About CenterPoint Energy (Get Rating)

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as assets in the wholesale power market.

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Analyst Recommendations for CenterPoint Energy (NYSE:CNP)

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