CenterPoint Energy, Inc. (NYSE:CNP) Upgraded at BidaskClub
CenterPoint Energy, Inc. (NYSE:CNP) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.
Several other brokerages also recently weighed in on CNP. Zacks Investment Research upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Monday, June 5th. J P Morgan Chase & Co initiated coverage on shares of CenterPoint Energy in a research report on Thursday, June 29th. They issued a “neutral” rating and a $29.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $27.33.
Shares of CenterPoint Energy (CNP) traded down 0.03% during mid-day trading on Thursday, hitting $29.05. The company had a trading volume of 165,790 shares. CenterPoint Energy has a 52-week low of $21.83 and a 52-week high of $29.45. The firm has a 50-day moving average price of $27.95 and a 200 day moving average price of $27.65. The firm has a market capitalization of $12.52 billion, a price-to-earnings ratio of 20.75 and a beta of 0.64.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.07. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.98 billion. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. CenterPoint Energy’s quarterly revenue was up 36.1% compared to the same quarter last year. During the same period last year, the firm posted $0.17 EPS. Analysts expect that CenterPoint Energy will post $1.32 earnings per share for the current year.
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In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $27.66, for a total transaction of $27,660.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 3,000 shares of company stock worth $84,560 over the last 90 days. 0.20% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Highbridge Capital Management LLC acquired a new position in shares of CenterPoint Energy during the fourth quarter valued at about $503,000. Macquarie Group Ltd. boosted its position in shares of CenterPoint Energy by 1.2% in the fourth quarter. Macquarie Group Ltd. now owns 280,143 shares of the utilities provider’s stock valued at $6,903,000 after buying an additional 3,400 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of CenterPoint Energy by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 377,979 shares of the utilities provider’s stock valued at $10,421,000 after buying an additional 11,276 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in shares of CenterPoint Energy by 5.0% in the first quarter. Gulf International Bank UK Ltd now owns 130,791 shares of the utilities provider’s stock valued at $3,605,000 after buying an additional 6,220 shares in the last quarter. Finally, National Pension Service boosted its position in shares of CenterPoint Energy by 34,046.6% in the first quarter. National Pension Service now owns 389,271 shares of the utilities provider’s stock valued at $10,709,000 after buying an additional 388,131 shares in the last quarter. Institutional investors own 77.16% of the company’s stock.
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.
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