CenterPoint Energy (NYSE:CNP) PT Lowered to $31.00

CenterPoint Energy (NYSE:CNP) had its target price decreased by KeyCorp from $33.00 to $31.00 in a report published on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the utilities provider’s stock. KeyCorp also issued estimates for CenterPoint Energy’s Q2 2024 earnings at $0.32 EPS, Q3 2024 earnings at $0.49 EPS, Q4 2024 earnings at $0.26 EPS and FY2028 earnings at $2.15 EPS.

A number of other research analysts have also weighed in on CNP. Scotiabank decreased their target price on shares of CenterPoint Energy from $31.00 to $29.00 and set a sector perform rating on the stock in a research note on Monday, April 22nd. BMO Capital Markets raised their price target on shares of CenterPoint Energy from $32.00 to $33.00 and gave the stock an outperform rating in a report on Wednesday, June 26th. StockNews.com downgraded shares of CenterPoint Energy from a hold rating to a sell rating in a report on Saturday, July 20th. Finally, Morgan Stanley downgraded shares of CenterPoint Energy from an overweight rating to an equal weight rating and cut their price target for the stock from $30.00 to $29.00 in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, CenterPoint Energy has a consensus rating of Hold and a consensus price target of $30.60.

CenterPoint Energy Trading Up 1.1 %

CNP opened at $29.03 on Monday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.25 and a quick ratio of 1.06. The company’s 50 day simple moving average is $30.10 and its two-hundred day simple moving average is $28.88. CenterPoint Energy has a 1-year low of $25.42 and a 1-year high of $31.57. The firm has a market capitalization of $18.57 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 2.55 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last released its earnings results on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. CenterPoint Energy had a net margin of 11.03% and a return on equity of 10.57%. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the company posted $0.50 EPS. Analysts expect that CenterPoint Energy will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 16th were issued a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.80 annualized dividend and a yield of 2.76%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 56.34%.

Insider Activity at CenterPoint Energy

In related news, Director Barry T. Smitherman sold 5,670 shares of CenterPoint Energy stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $29.42, for a total value of $166,811.40. Following the completion of the sale, the director now owns 21,203 shares in the company, valued at approximately $623,792.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by insiders.

Hedge Funds Weigh In On CenterPoint Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crewe Advisors LLC purchased a new stake in shares of CenterPoint Energy during the first quarter worth $25,000. Global Retirement Partners LLC increased its position in shares of CenterPoint Energy by 163.7% during the fourth quarter. Global Retirement Partners LLC now owns 894 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 555 shares during the period. Olistico Wealth LLC purchased a new stake in shares of CenterPoint Energy during the second quarter worth $33,000. FinTrust Capital Advisors LLC increased its position in shares of CenterPoint Energy by 60.3% during the first quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 452 shares during the period. Finally, Tobam purchased a new stake in shares of CenterPoint Energy during the first quarter worth $35,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

About CenterPoint Energy

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.