CenterPoint Energy (NYSE:CNP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “CenterPoint Energy has been strengthening its infrastructure through regular capital investment and acquisitions, which will help it to meet the requirements of an expanding customer base. Toward this end, the company continues with its capital expenditure plan of $7 billion from 2017 through 2021. Moreover, the company's shares outperformed the broader industry in the last twelve months. However, its results are subject to the impact of weather patterns, regulatory and judicial proceedings and fluctuating commodity prices. Again, dependence on REPs for timely payment of fees and a large amount of outstanding debt are deterring CenterPoint’s growth.”

Several other brokerages also recently commented on CNP. Royal Bank of Canada reaffirmed a “hold” rating and issued a $29.00 target price on shares of CenterPoint Energy in a research note on Monday, September 11th. Bank of America began coverage on shares of CenterPoint Energy in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $30.00 target price on the stock. Guggenheim downgraded shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a research report on Monday, December 4th. They noted that the move was a valuation call. BidaskClub upgraded shares of CenterPoint Energy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Finally, J P Morgan Chase & Co set a $30.00 price target on shares of CenterPoint Energy and gave the stock a “hold” rating in a research note on Thursday, October 12th. Eleven analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. CenterPoint Energy currently has a consensus rating of “Hold” and an average target price of $28.89.

CenterPoint Energy (CNP) traded down $0.06 on Tuesday, hitting $28.85. 2,837,900 shares of the stock traded hands, compared to its average volume of 2,830,189. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.91 and a quick ratio of 0.77. CenterPoint Energy has a 52-week low of $23.95 and a 52-week high of $30.45. The stock has a market capitalization of $12,461.18, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 3.85 and a beta of 0.62.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Friday, November 3rd. The utilities provider reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.07 billion. CenterPoint Energy had a net margin of 6.59% and a return on equity of 16.00%. CenterPoint Energy’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share. research analysts expect that CenterPoint Energy will post 1.31 earnings per share for the current year.

In related news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $29.61, for a total value of $29,610.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 3,000 shares of company stock valued at $88,080. 0.20% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in CenterPoint Energy by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 49,060,465 shares of the utilities provider’s stock valued at $1,343,275,000 after buying an additional 1,767,259 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in CenterPoint Energy by 6.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 9,550,152 shares of the utilities provider’s stock worth $278,959,000 after purchasing an additional 611,608 shares during the period. FMR LLC increased its holdings in shares of CenterPoint Energy by 1.2% in the 2nd quarter. FMR LLC now owns 8,841,881 shares of the utilities provider’s stock valued at $242,091,000 after acquiring an additional 108,431 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of CenterPoint Energy by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,583,166 shares of the utilities provider’s stock valued at $250,198,000 after acquiring an additional 554,719 shares during the last quarter. Finally, APG Asset Management N.V. increased its holdings in shares of CenterPoint Energy by 410.6% in the 3rd quarter. APG Asset Management N.V. now owns 7,214,510 shares of the utilities provider’s stock valued at $210,736,000 after acquiring an additional 5,801,591 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

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About CenterPoint Energy

CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.

Analyst Recommendations for CenterPoint Energy (NYSE:CNP)

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