CenterPoint Energy, Inc. (NYSE:CNP) Stock Has Average Target Price of $44.29 According to Brokerages

CenterPoint Energy, Inc. (NYSE:CNP) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $44.29.

CNP has been the subject of several analyst reports. HSBC started coverage on CenterPoint Energy in a report on Thursday, October 22nd. They issued a “buy” rating and a $44.00 target price for the company. Truist Financial lowered their price target on CenterPoint Energy from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, October 12th. TD Cowen initiated coverage on shares of CenterPoint Energy in a research report on Thursday, October 22nd. They issued a “buy” rating and a $47.00 price target on the stock. Barclays lifted their price target on shares of CenterPoint Energy from $41.00 to $43.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 28th. Finally, Evercore set a $43.00 price objective on shares of CenterPoint Energy in a research note on Monday, August 17th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CNP. Keating Financial Advisory Services Inc. bought a new stake in CenterPoint Energy during the second quarter valued at about $27,000. MidFirst Bank acquired a new stake in shares of CenterPoint Energy in the second quarter valued at about $38,000. Transamerica Financial Advisors LLC bought a new position in shares of CenterPoint Energy in the second quarter worth about $40,000. Silver Grove Financial Group Inc. increased its stake in shares of CenterPoint Energy by 1,325.4% in the third quarter. Silver Grove Financial Group Inc. now owns 955 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 888 shares during the period. Finally, Pin Oak Investment Advisors Inc. bought a new position in shares of CenterPoint Energy in the second quarter worth about $44,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

CenterPoint Energy Price Performance

Shares of NYSE:CNP opened at $41.22 on Friday. CenterPoint Energy has a fifty-two week low of $36.37 and a fifty-two week high of $45.26. The business has a 50-day moving average of $39.43 and a two-hundred day moving average of $41.61. The stock has a market capitalization of $27.32 billion, a P/E ratio of 23.55, a P/E/G ratio of 2.70 and a beta of 0.43. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.15 and a quick ratio of 0.97.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.03. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.17 billion. CenterPoint Energy had a return on equity of 11.16% and a net margin of 11.76%. During the same quarter in the prior year, the company posted $0.50 EPS. On average, equities research analysts predict that CenterPoint Energy will post 1.91 EPS for the current fiscal year.

CenterPoint Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be paid a $0.24 dividend. The ex-dividend date is Thursday, November 19th. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 54.86%.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc. is a regulated energy delivery company based in Houston, Texas. Its main businesses are electric transmission and distribution and natural gas distribution, connecting customers to energy and maintaining the infrastructure that delivers it. The company’s electric utility operations serve the Houston area, while its natural gas utilities serve customers in Texas, Indiana, Minnesota and Ohio. CenterPoint Energy’s services include operating and maintaining power lines, gas distribution systems and related utility infrastructure.