CenterPoint Energy (NYSE:CNP) PT Lowered to $28.00

CenterPoint Energy (NYSE:CNP) had its price target decreased by equities researchers at Scotiabank from $29.00 to $28.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s price target suggests a potential upside of 7.10% from the company’s previous close.

A number of other brokerages have also recently commented on CNP. Wells Fargo & Company cut CenterPoint Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $32.00 to $28.00 in a report on Tuesday, August 13th. JPMorgan Chase & Co. lowered CenterPoint Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $32.00 to $29.00 in a research note on Friday, August 2nd. KeyCorp cut CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. StockNews.com upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Finally, BMO Capital Markets downgraded shares of CenterPoint Energy from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $31.00 to $28.00 in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $29.64.

CenterPoint Energy Trading Up 1.3 %

Shares of CNP stock opened at $26.15 on Tuesday. CenterPoint Energy has a fifty-two week low of $25.41 and a fifty-two week high of $31.57. The company has a quick ratio of 1.06, a current ratio of 1.20 and a debt-to-equity ratio of 1.79. The business has a fifty day simple moving average of $28.88 and a 200-day simple moving average of $28.71. The stock has a market cap of $16.73 billion, a P/E ratio of 18.41, a P/E/G ratio of 2.48 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the business posted $0.28 earnings per share. On average, analysts forecast that CenterPoint Energy will post 1.62 earnings per share for the current fiscal year.

Institutional Trading of CenterPoint Energy

Several institutional investors have recently made changes to their positions in the stock. Crewe Advisors LLC acquired a new position in CenterPoint Energy in the first quarter valued at $25,000. Olistico Wealth LLC acquired a new position in shares of CenterPoint Energy in the 2nd quarter valued at about $33,000. Rothschild Investment LLC purchased a new stake in shares of CenterPoint Energy during the 2nd quarter worth about $33,000. FinTrust Capital Advisors LLC increased its position in CenterPoint Energy by 60.3% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 452 shares in the last quarter. Finally, Tobam purchased a new position in CenterPoint Energy in the first quarter valued at approximately $35,000. 91.77% of the stock is owned by hedge funds and other institutional investors.

CenterPoint Energy Company Profile

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