Barclays began coverage on shares of CenterPoint Energy (NYSE:CNP – Free Report) in a research note released on Wednesday morning, MarketBeat.com reports. The brokerage issued an underweight rating and a $28.00 price target on the utilities provider’s stock.
Several other equities analysts have also recently commented on CNP. Guggenheim upped their price target on CenterPoint Energy from $32.00 to $33.00 in a report on Friday, July 7th. Mizuho lowered CenterPoint Energy from a buy rating to a neutral rating and set a $33.00 price objective on the stock. in a research note on Friday, July 28th. Morgan Stanley reiterated an overweight rating and issued a $30.00 price objective on shares of CenterPoint Energy in a research note on Friday, July 21st. UBS Group lowered CenterPoint Energy from a buy rating to a neutral rating and lowered 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. Finally, JPMorgan Chase & Co. upped their price objective on CenterPoint Energy from $33.00 to $34.00 and gave the company an overweight rating in a research note on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $32.10.
View Our Latest Analysis on CenterPoint Energy
CenterPoint Energy Price Performance
CenterPoint Energy (NYSE:CNP – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. CenterPoint Energy had a return on equity of 9.71% and a net margin of 8.28%. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the firm earned $0.31 EPS. Research analysts anticipate that CenterPoint Energy will post 1.49 EPS for the current year.
CenterPoint Energy Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Thursday, August 17th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.76 dividend on an annualized basis and a yield of 2.70%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 66.09%.
Institutional Investors Weigh In On CenterPoint Energy
A number of large investors have recently bought and sold shares of CNP. Invesco Ltd. grew its position in CenterPoint Energy by 68.2% during the 1st quarter. Invesco Ltd. now owns 7,638,179 shares of the utilities provider’s stock worth $234,036,000 after acquiring an additional 3,096,455 shares during the last quarter. State Street Corp lifted its holdings in CenterPoint Energy by 10.0% during the 1st quarter. State Street Corp now owns 33,279,592 shares of the utilities provider’s stock worth $1,019,687,000 after buying an additional 3,035,409 shares in the last quarter. Norges Bank acquired a new position in CenterPoint Energy during the 4th quarter worth $88,736,000. Deutsche Bank AG lifted its holdings in CenterPoint Energy by 10.7% during the 4th quarter. Deutsche Bank AG now owns 22,564,998 shares of the utilities provider’s stock worth $676,724,000 after buying an additional 2,179,250 shares in the last quarter. Finally, ClearBridge Investments Ltd acquired a new position in CenterPoint Energy during the 1st quarter worth $59,799,000. 89.76% of the stock is currently owned by institutional investors.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc is a holding company, which engages in the business of power generation and distribution. It operates through the following segments: CenterPoint Energy, Houston Electric, and CERC. The CenterPoint Energy segment consists of electric transmission and distribution services in the Texas gulf coast area in the ERCOT region and electric transmission and distribution services primarily to southwestern Indiana and includes power generation and wholesale power operations in the MISO region.
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