CenterPoint Energy (NYSE:CNP) PT Raised to $32.00

CenterPoint Energy (NYSE:CNP) had its target price increased by Wells Fargo & Company from $28.00 to $32.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 6.03% from the stock’s current price.

A number of other analysts have also recently commented on the company. BMO Capital Markets reiterated a “market perform” rating and set a $28.00 target price on shares of CenterPoint Energy in a research report on Monday, August 26th. Bank of America initiated coverage on CenterPoint Energy in a research report on Thursday, September 12th. They set a “neutral” rating and a $29.00 target price on the stock. KeyCorp cut CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. StockNews.com cut CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Sunday, October 6th. Finally, Morgan Stanley lifted their target price on CenterPoint Energy from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $29.91.

CenterPoint Energy Stock Up 0.2 %

CenterPoint Energy stock opened at $30.18 on Wednesday. CenterPoint Energy has a 1-year low of $25.41 and a 1-year high of $31.57. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.20 and a quick ratio of 0.99. The stock has a market cap of $19.31 billion, a PE ratio of 21.25, a P/E/G ratio of 2.56 and a beta of 0.92. The stock’s fifty day moving average is $28.06 and its two-hundred day moving average is $28.87.

CenterPoint Energy (NYSE:CNP) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the firm earned $0.28 earnings per share. On average, sell-side analysts expect that CenterPoint Energy will post 1.62 EPS for the current fiscal year.

Institutional Investors Weigh In On CenterPoint Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Inspire Advisors LLC boosted its holdings in CenterPoint Energy by 3.2% in the 3rd quarter. Inspire Advisors LLC now owns 21,604 shares of the utilities provider’s stock valued at $636,000 after purchasing an additional 679 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of CenterPoint Energy by 11.7% during the 3rd quarter. V Square Quantitative Management LLC now owns 21,940 shares of the utilities provider’s stock valued at $645,000 after acquiring an additional 2,290 shares during the period. nVerses Capital LLC acquired a new stake in shares of CenterPoint Energy during the 3rd quarter valued at approximately $1,039,000. Teilinger Capital Ltd. acquired a new stake in shares of CenterPoint Energy during the 3rd quarter valued at approximately $26,478,000. Finally, Seven Grand Managers LLC acquired a new stake in shares of CenterPoint Energy during the 3rd quarter valued at approximately $5,884,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.