CenterPoint Energy (NYSE:CNP) Hits New 1-Year High – What’s Next?

CenterPoint Energy, Inc. (NYSE:CNP) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $34.79 and last traded at $34.78, with a volume of 212494 shares trading hands. The stock had previously closed at $34.38.

Analysts Set New Price Targets

CNP has been the subject of a number of research analyst reports. UBS Group raised CenterPoint Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $31.00 to $37.00 in a research note on Tuesday, December 3rd. Barclays raised their target price on shares of CenterPoint Energy from $29.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, January 27th. Morgan Stanley reduced their price target on shares of CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Guggenheim lowered shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Finally, LADENBURG THALM/SH SH started coverage on CenterPoint Energy in a research report on Thursday, December 12th. They set a “buy” rating and a $34.50 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, CenterPoint Energy presently has an average rating of “Hold” and a consensus target price of $31.65.

CenterPoint Energy Stock Performance

The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.92 and a current ratio of 1.08. The stock has a market capitalization of $22.07 billion, a P/E ratio of 21.30, a PEG ratio of 2.71 and a beta of 0.91. The business has a 50-day moving average price of $32.63 and a 200 day moving average price of $30.75.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. CenterPoint Energy had a return on equity of 10.02% and a net margin of 11.79%. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.46 billion. As a group, sell-side analysts forecast that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, February 20th. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.21. CenterPoint Energy’s dividend payout ratio is currently 55.35%.

Hedge Funds Weigh In On CenterPoint Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new position in shares of CenterPoint Energy during the third quarter valued at $26,000. J.Safra Asset Management Corp purchased a new position in CenterPoint Energy in the 4th quarter worth about $28,000. Assetmark Inc. raised its position in CenterPoint Energy by 657.1% in the 4th quarter. Assetmark Inc. now owns 901 shares of the utilities provider’s stock worth $29,000 after buying an additional 782 shares during the last quarter. VSM Wealth Advisory LLC bought a new position in CenterPoint Energy during the 4th quarter valued at about $32,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of CenterPoint Energy by 51.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 375 shares during the last quarter. 91.77% of the stock is owned by institutional investors.

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.