CenterPoint Energy (NYSE:CNP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “CenterPoint Energy has been strengthening its infrastructure through regular capital investment and acquisitions, which will help it to meet the requirements of an expanding customer base. Toward this end, the company continues with its capital expenditure plan of $7 billion from 2017 through 2021. Moreover, the company's shares outperformed the broader industry in the last twelve months. However, its results are subject to the impact of weather patterns, regulatory and judicial proceedings and fluctuating commodity prices. Again, dependence on REPs for timely payment of fees and a large amount of outstanding debt are deterring CenterPoint’s growth.”
A number of other analysts also recently weighed in on the stock. Guggenheim downgraded shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a research report on Monday, December 4th. They noted that the move was a valuation call. Citigroup raised their price target on shares of CenterPoint Energy from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, November 20th. Bank of America assumed coverage on shares of CenterPoint Energy in a research report on Tuesday, October 24th. They set a “neutral” rating and a $30.00 price target for the company. J P Morgan Chase & Co set a $30.00 price objective on CenterPoint Energy and gave the stock a “hold” rating in a research note on Thursday, October 12th. Finally, SunTrust Banks restated a “hold” rating and set a $30.00 price objective on shares of CenterPoint Energy in a research note on Monday, October 2nd. Eleven research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. CenterPoint Energy has an average rating of “Hold” and an average price target of $28.89.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Friday, November 3rd. The utilities provider reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. CenterPoint Energy had a net margin of 6.59% and a return on equity of 16.00%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the company earned $0.41 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. research analysts expect that CenterPoint Energy will post 1.31 EPS for the current fiscal year.
In related news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $29.61, for a total transaction of $29,610.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 3,000 shares of company stock worth $88,080 over the last 90 days. 0.20% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CNP. Carnegie Capital Asset Management LLC lifted its stake in CenterPoint Energy by 0.3% in the second quarter. Carnegie Capital Asset Management LLC now owns 12,513 shares of the utilities provider’s stock valued at $353,000 after buying an additional 39 shares during the last quarter. Paradigm Asset Management Co. LLC lifted its stake in CenterPoint Energy by 2.2% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock valued at $126,000 after buying an additional 100 shares during the last quarter. IHT Wealth Management LLC bought a new stake in CenterPoint Energy in the second quarter valued at $153,000. Veritable L.P. lifted its stake in CenterPoint Energy by 2.9% in the second quarter. Veritable L.P. now owns 11,989 shares of the utilities provider’s stock valued at $328,000 after buying an additional 342 shares during the last quarter. Finally, Sentry Investment Management LLC lifted its stake in CenterPoint Energy by 1.1% in the second quarter. Sentry Investment Management LLC now owns 33,735 shares of the utilities provider’s stock valued at $924,000 after buying an additional 351 shares during the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.
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CenterPoint Energy Company Profile
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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