ValuEngine Upgrades CenterPoint Energy (NYSE:CNP) to “Buy”

ValuEngine upgraded shares of CenterPoint Energy (NYSE:CNP) from a hold rating to a buy rating in a research report sent to investors on Monday, February 4th.

Several other equities research analysts have also issued reports on CNP. Wells Fargo & Co raised CenterPoint Energy from a market perform rating to an outperform rating and set a $30.00 price target on the stock in a research report on Monday, October 8th. JPMorgan Chase & Co. upped their price target on CenterPoint Energy from $32.00 to $33.00 and gave the company an overweight rating in a research report on Tuesday, October 9th. Zacks Investment Research lowered CenterPoint Energy from a buy rating to a sell rating in a research report on Tuesday, October 9th. Barclays assumed coverage on CenterPoint Energy in a research report on Monday, October 22nd. They set a hold rating and a $30.00 price target on the stock. Finally, UBS Group raised CenterPoint Energy from a neutral rating to a buy rating and increased their target price for the stock from $30.00 to $34.00 in a research report on Thursday, December 13th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $31.00.

Shares of CenterPoint Energy stock traded up $0.03 on Monday, hitting $30.17. 5,962,336 shares of the company’s stock traded hands, compared to its average volume of 4,359,379. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.54. The stock has a market cap of $15.74 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 3.16 and a beta of 0.47. CenterPoint Energy has a 52-week low of $24.81 and a 52-week high of $31.42.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Thursday, February 28th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. CenterPoint Energy had a return on equity of 14.40% and a net margin of 15.15%. During the same quarter last year, the company posted $0.33 EPS. As a group, equities analysts predict that CenterPoint Energy will post 1.68 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Thursday, February 21st will be given a $0.2875 dividend. The ex-dividend date of this dividend is Wednesday, February 20th. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.28. This represents a $1.15 annualized dividend and a yield of 3.81%. CenterPoint Energy’s dividend payout ratio (DPR) is currently 71.88%.

In other CenterPoint Energy news, CEO Scott M. Prochazka sold 4,000 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $28.17, for a total value of $112,680.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold 12,000 shares of company stock worth $347,040 over the last ninety days. 0.22% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Financial Architects Inc bought a new position in shares of CenterPoint Energy in the fourth quarter worth $28,000. PRW Wealth Management LLC bought a new position in shares of CenterPoint Energy in the fourth quarter worth $29,000. Claybrook Capital LLC bought a new position in shares of CenterPoint Energy in the fourth quarter worth $31,000. Sound Income Strategies LLC grew its stake in shares of CenterPoint Energy by 793.7% in the fourth quarter. Sound Income Strategies LLC now owns 1,126 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Whittier Trust Co. grew its stake in shares of CenterPoint Energy by 345.7% in the fourth quarter. Whittier Trust Co. now owns 1,337 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 1,037 shares in the last quarter. 80.27% of the stock is owned by institutional investors.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for CenterPoint Energy (NYSE:CNP)

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