CenterPoint Energy (NYSE:CNP) Upgraded by Barclays to “Overweight”
Barclays upgraded shares of CenterPoint Energy (NYSE:CNP) from an equal weight rating to an overweight rating in a research report released on Tuesday, BenzingaRatingsTable reports. They currently have $31.00 price target on the utilities provider’s stock, down from their prior price target of $33.00.
Other research analysts have also recently issued reports about the company. Goldman Sachs Group boosted their target price on CenterPoint Energy from $31.00 to $32.00 and gave the stock a buy rating in a report on Tuesday, July 2nd. Mizuho began coverage on CenterPoint Energy in a report on Monday, June 3rd. They set a buy rating and a $31.00 target price on the stock. KeyCorp began coverage on CenterPoint Energy in a report on Tuesday, June 4th. They set a sector weight rating on the stock. Bank of America upgraded CenterPoint Energy from a neutral rating to a buy rating and set a $29.32 target price on the stock in a report on Thursday, June 13th. They noted that the move was a valuation call. Finally, Credit Suisse Group set a $33.00 target price on CenterPoint Energy and gave the stock a buy rating in a report on Monday, April 22nd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. CenterPoint Energy presently has a consensus rating of Buy and a consensus price target of $31.85.
CNP stock opened at $28.00 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 2.17. CenterPoint Energy has a 12-month low of $26.74 and a 12-month high of $31.42. The firm has a market cap of $13.87 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 3.27 and a beta of 0.46. The business has a 50-day moving average price of $28.76.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 15th will be issued a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend is Wednesday, August 14th. CenterPoint Energy’s dividend payout ratio is presently 71.88%.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $29.03, for a total value of $203,210.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Milton Carroll sold 19,780 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $29.70, for a total value of $587,466.00. Following the completion of the sale, the insider now directly owns 98,301 shares in the company, valued at approximately $2,919,539.70. The disclosure for this sale can be found here. Insiders sold 52,780 shares of company stock worth $1,545,396 over the last quarter. 0.24% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of CNP. National Pension Service increased its holdings in CenterPoint Energy by 5.6% in the second quarter. National Pension Service now owns 594,906 shares of the utilities provider’s stock valued at $17,032,000 after buying an additional 31,770 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in CenterPoint Energy by 2.4% in the second quarter. Asset Management One Co. Ltd. now owns 622,163 shares of the utilities provider’s stock valued at $17,813,000 after buying an additional 14,527 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new position in CenterPoint Energy in the second quarter valued at $578,000. O Shares Investment Advisers LLC increased its holdings in CenterPoint Energy by 6.2% in the second quarter. O Shares Investment Advisers LLC now owns 21,534 shares of the utilities provider’s stock valued at $617,000 after buying an additional 1,258 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in CenterPoint Energy by 3.0% in the second quarter. Nomura Asset Management Co. Ltd. now owns 94,975 shares of the utilities provider’s stock valued at $2,719,000 after buying an additional 2,803 shares during the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.
About CenterPoint Energy
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
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