CenterPoint Energy (NYSE:CNP) had its price objective reduced by Mizuho from $22.00 to $20.00 in a research note published on Friday morning, The Fly reports. They currently have a buy rating on the utilities provider’s stock.

A number of other brokerages have also recently commented on CNP. TheStreet cut CenterPoint Energy from a b- rating to a c+ rating in a report on Monday, March 9th. KeyCorp lifted their target price on CenterPoint Energy from $12.00 to $16.00 and gave the stock an underweight rating in a report on Friday, May 8th. Wells Fargo & Co reiterated a hold rating and issued a $17.00 target price on shares of CenterPoint Energy in a report on Thursday, April 2nd. Royal Bank of Canada reiterated a buy rating and issued a $18.00 target price on shares of CenterPoint Energy in a report on Wednesday, May 13th. Finally, Morgan Stanley lifted their target price on CenterPoint Energy from $19.00 to $20.00 and gave the stock an equal weight rating in a report on Wednesday, June 17th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. CenterPoint Energy has a consensus rating of Hold and an average price target of $20.84.

NYSE:CNP opened at $18.62 on Friday. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.03 and a quick ratio of 0.94. CenterPoint Energy has a 1 year low of $11.58 and a 1 year high of $30.71. The stock’s 50 day simple moving average is $17.83 and its two-hundred day simple moving average is $20.93. The company has a market cap of $9.64 billion, a price-to-earnings ratio of -13.40, a PEG ratio of 2.79 and a beta of 0.96.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, May 7th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.22. CenterPoint Energy had a positive return on equity of 15.75% and a negative net margin of 5.28%. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the company posted $0.46 EPS. The company’s revenue was down 2.8% compared to the same quarter last year. As a group, analysts anticipate that CenterPoint Energy will post 1.27 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 21st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Wednesday, May 20th. CenterPoint Energy’s payout ratio is currently 33.52%.

In other news, Director David J. Lesar bought 11,110 shares of the stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $18.05 per share, for a total transaction of $200,535.50. Following the acquisition, the director now owns 6,110 shares of the company’s stock, valued at $110,285.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of CNP. Rockefeller Capital Management L.P. lifted its holdings in shares of CenterPoint Energy by 151.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,007 shares of the utilities provider’s stock worth $27,000 after buying an additional 607 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of CenterPoint Energy by 10.3% in the 4th quarter. Natixis Advisors L.P. now owns 68,767 shares of the utilities provider’s stock worth $1,875,000 after buying an additional 6,424 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of CenterPoint Energy in the 4th quarter worth $720,000. Bank of Montreal Can lifted its holdings in shares of CenterPoint Energy by 8.1% in the 4th quarter. Bank of Montreal Can now owns 1,336,344 shares of the utilities provider’s stock worth $36,442,000 after buying an additional 99,699 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of CenterPoint Energy by 7.7% in the 4th quarter. Pacer Advisors Inc. now owns 56,404 shares of the utilities provider’s stock worth $1,538,000 after buying an additional 4,022 shares during the period. Institutional investors and hedge funds own 82.14% of the company’s stock.

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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Analyst Recommendations for CenterPoint Energy (NYSE:CNP)

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