KeyCorp Has Lowered Expectations for CenterPoint Energy (NYSE:CNP) Stock Price

CenterPoint Energy (NYSE:CNP) had its price objective dropped by equities research analysts at KeyCorp from $47.00 to $46.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price objective indicates a potential upside of 5.23% from the company’s current price.

A number of other analysts also recently weighed in on the company. Wells Fargo & Company restated an “overweight” rating and issued a $48.00 price objective on shares of CenterPoint Energy in a report on Tuesday, April 21st. Wall Street Zen cut CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Bank of America raised their price objective on CenterPoint Energy from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Evercore set a $45.00 price objective on CenterPoint Energy in a research note on Monday, May 4th. Finally, Truist Financial reduced their target price on CenterPoint Energy from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, CenterPoint Energy currently has a consensus rating of “Hold” and an average price target of $45.38.

CenterPoint Energy Trading Up 2.3%

Shares of NYSE:CNP opened at $43.71 on Thursday. The business’s 50 day simple moving average is $43.06 and its 200 day simple moving average is $42.24. The company has a market capitalization of $28.60 billion, a P/E ratio of 26.82, a P/E/G ratio of 2.53 and a beta of 0.46. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.16 and a quick ratio of 1.04. CenterPoint Energy has a 1 year low of $36.59 and a 1 year high of $45.22.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Thursday, April 23rd. The utilities provider reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $1.98 billion. CenterPoint Energy had a return on equity of 10.56% and a net margin of 11.38%.During the same period last year, the company posted $0.53 EPS. On average, research analysts anticipate that CenterPoint Energy will post 1.91 EPS for the current fiscal year.

Institutional Trading of CenterPoint Energy

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of CenterPoint Energy by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 82,381,128 shares of the utilities provider’s stock valued at $3,158,492,000 after purchasing an additional 719,803 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of CenterPoint Energy by 13.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 58,286,690 shares of the utilities provider’s stock valued at $2,234,712,000 after acquiring an additional 6,794,535 shares during the period. Capital Research Global Investors lifted its holdings in CenterPoint Energy by 1.1% during the fourth quarter. Capital Research Global Investors now owns 20,941,909 shares of the utilities provider’s stock worth $802,916,000 after acquiring an additional 235,346 shares in the last quarter. Geode Capital Management LLC raised its holdings in CenterPoint Energy by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 17,023,720 shares of the utilities provider’s stock worth $650,189,000 after buying an additional 166,305 shares during the period. Finally, Norges Bank acquired a new stake in shares of CenterPoint Energy in the 4th quarter valued at about $343,925,000. Institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.