CenterPoint Energy (NYSE:CNP – Get Free Report) had its price objective lifted by equities researchers at Mizuho from $32.00 to $33.00 in a report issued on Friday, Marketbeat.com reports. The firm presently has a “buy” rating on the utilities provider’s stock. Mizuho’s price objective would indicate a potential upside of 9.56% from the stock’s previous close.
Several other research analysts have also recently issued reports on the company. Morgan Stanley raised their price objective on CenterPoint Energy from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 20th. Bank of America increased their price objective on shares of CenterPoint Energy from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, April 14th. StockNews.com downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Wednesday. Guggenheim increased their price target on CenterPoint Energy from $32.00 to $33.00 in a research report on Friday, July 7th. Finally, UBS Group lowered CenterPoint Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $30.00 in a research note on Tuesday, June 6th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.60.
CenterPoint Energy Trading Down 1.0 %
CenterPoint Energy stock opened at $30.12 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.75 and a current ratio of 1.00. The stock has a market cap of $19.01 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 2.75 and a beta of 0.88. The stock has a 50-day moving average of $29.14 and a two-hundred day moving average of $29.45. CenterPoint Energy has a one year low of $25.03 and a one year high of $33.50.
Insider Activity
In other news, Director Barry T. Smitherman sold 5,000 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $30.51, for a total transaction of $152,550.00. Following the transaction, the director now owns 21,075 shares in the company, valued at approximately $642,998.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Barry T. Smitherman sold 5,000 shares of CenterPoint Energy stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $30.51, for a total value of $152,550.00. Following the sale, the director now directly owns 21,075 shares in the company, valued at approximately $642,998.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ted Pound sold 2,770 shares of the stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $30.50, for a total value of $84,485.00. Following the transaction, the director now directly owns 46,541 shares of the company’s stock, valued at approximately $1,419,500.50. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNP. Securian Asset Management Inc. lifted its stake in shares of CenterPoint Energy by 0.6% in the first quarter. Securian Asset Management Inc. now owns 52,022 shares of the utilities provider’s stock worth $1,533,000 after buying an additional 333 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of CenterPoint Energy by 3.3% during the 1st quarter. AdvisorNet Financial Inc now owns 11,019 shares of the utilities provider’s stock worth $325,000 after purchasing an additional 349 shares during the last quarter. Bogart Wealth LLC grew its position in shares of CenterPoint Energy by 44.9% in the first quarter. Bogart Wealth LLC now owns 1,152 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 357 shares in the last quarter. Advisor Partners II LLC increased its holdings in shares of CenterPoint Energy by 1.2% in the first quarter. Advisor Partners II LLC now owns 29,370 shares of the utilities provider’s stock valued at $865,000 after purchasing an additional 357 shares during the last quarter. Finally, Texas Permanent School Fund lifted its position in CenterPoint Energy by 0.4% during the fourth quarter. Texas Permanent School Fund now owns 89,445 shares of the utilities provider’s stock worth $2,682,000 after buying an additional 374 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.
About CenterPoint Energy
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. 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.
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