Morgan Stanley Cuts CenterPoint Energy (NYSE:CNP) Price Target to $38.00

CenterPoint Energy (NYSE:CNP) had its price target lowered by Morgan Stanley from $39.00 to $38.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an equal weight rating on the utilities provider’s stock.

A number of other equities analysts also recently commented on CNP. BMO Capital Markets lowered their price objective on CenterPoint Energy from $48.00 to $47.00 and set an “outperform” rating for the company in a research report on Wednesday, July 22nd. Truist Financial reduced their target price on shares of CenterPoint Energy from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Royal Bank Of Canada began coverage on shares of CenterPoint Energy in a research note on Tuesday, September 15th. They issued a “sector perform” rating and a $40.00 price target for the company. Wall Street Zen upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Jefferies Financial Group set a $50.00 price objective on shares of CenterPoint Energy in a research report on Thursday, June 18th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, CenterPoint Energy currently has an average rating of “Moderate Buy” and a consensus target price of $44.93.

CenterPoint Energy Stock Performance

Shares of CNP stock opened at $38.22 on Friday. The firm has a 50 day moving average of $40.86 and a two-hundred day moving average of $42.25. The stock has a market capitalization of $25.18 billion, a PE ratio of 22.48, a P/E/G ratio of 2.53 and a beta of 0.46. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 1.95. CenterPoint Energy has a 52 week low of $37.22 and a 52 week high of $45.26.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. CenterPoint Energy had a return on equity of 11.10% and a net margin of 11.61%.The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the prior year, the company earned $0.29 earnings per share. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. On average, research analysts predict that CenterPoint Energy will post 1.91 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Thursday, August 20th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Thursday, August 20th. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.23. CenterPoint Energy’s dividend payout ratio (DPR) is currently 56.47%.

Institutional Investors Weigh In On CenterPoint Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CNP. T. Rowe Price Investment Management Inc. raised its holdings in CenterPoint Energy by 13.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 58,286,690 shares of the utilities provider’s stock worth $2,234,712,000 after purchasing an additional 6,794,535 shares in the last quarter. Capital Research Global Investors grew its position in shares of CenterPoint Energy by 1.1% in the 4th quarter. Capital Research Global Investors now owns 20,941,909 shares of the utilities provider’s stock valued at $802,916,000 after buying an additional 235,346 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of CenterPoint Energy in the 2nd quarter valued at $770,871,000. Geode Capital Management LLC raised its stake 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 acquiring an additional 166,305 shares in the last quarter. Finally, Norges Bank acquired a new stake in CenterPoint Energy during the 4th quarter worth $343,925,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

About CenterPoint Energy

CenterPoint Energy, Inc (NYSE:CNP) is an energy delivery company headquartered in Houston, Texas. Its primary businesses include electric transmission and distribution and natural gas distribution, with operations focused on delivering energy to residential, commercial and industrial customers rather than producing most of the energy it supplies.

CenterPoint operates electric utility infrastructure in the Houston metropolitan area and in southwestern Indiana. The company also provides natural gas distribution services in Indiana, Louisiana, Mississippi and Ohio.