CenterPoint Energy (NYSE:CNP) Price Target Raised to $36.00

CenterPoint Energy (NYSE:CNP) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $34.00 to $36.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 3.12% from the stock’s previous close.

Several other research analysts have also commented on the company. Guggenheim lowered CenterPoint Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Barclays lifted their target price on CenterPoint Energy from $29.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, January 27th. LADENBURG THALM/SH SH began coverage on shares of CenterPoint Energy in a research note on Thursday, December 12th. They issued a “buy” rating and a $34.50 price objective for the company. Evercore ISI raised shares of CenterPoint Energy from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $36.00 to $37.00 in a research note on Tuesday. Finally, Morgan Stanley decreased their price target on shares of CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $32.77.

CenterPoint Energy Trading Up 1.4 %

NYSE CNP traded up $0.48 during trading hours on Tuesday, reaching $34.91. The company had a trading volume of 565,881 shares, compared to its average volume of 5,182,585. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $22.75 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. The stock has a 50-day moving average of $32.77 and a 200 day moving average of $30.96. CenterPoint Energy has a 1-year low of $25.41 and a 1-year high of $35.02.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.46 billion. CenterPoint Energy had a net margin of 11.79% and a return on equity of 10.02%. As a group, research analysts anticipate that CenterPoint Energy will post 1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CenterPoint Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new position in CenterPoint Energy during the third quarter worth approximately $26,000. J.Safra Asset Management Corp purchased a new position in shares of CenterPoint Energy during the fourth quarter worth approximately $28,000. Assetmark Inc. increased its holdings in shares of CenterPoint Energy by 657.1% in the 4th quarter. Assetmark Inc. now owns 901 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 782 shares during the period. VSM Wealth Advisory LLC purchased a new stake in CenterPoint Energy in the 4th quarter valued at $32,000. Finally, First Horizon Advisors Inc. boosted its stake in CenterPoint Energy by 51.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 375 shares during the period. 91.77% 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 operates through two segments, Electric and Natural Gas. 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.