CenterPoint Energy (NYSE:CNP) Price Target Cut to $20.00 by Analysts at Mizuho

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

CNP has been the subject of several other research reports. Zacks Investment Research cut CenterPoint Energy from a buy rating to a hold rating and set a $19.00 price target for the company. in a report on Friday, June 12th. Evercore ISI cut CenterPoint Energy from an outperform rating to an in-line rating and cut their price target for the company from $21.00 to $17.00 in a report on Monday, April 20th. Wells Fargo & Co reaffirmed a hold rating and issued a $17.00 price target on shares of CenterPoint Energy in a report on Thursday, April 2nd. ValuEngine raised CenterPoint Energy from a sell rating to a hold rating in a report on Friday, May 8th. Finally, TheStreet cut CenterPoint Energy from a b- rating to a c+ rating in a report on Monday, March 9th. 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. The stock has a consensus rating of Hold and a consensus price target of $20.84.

Shares of CenterPoint Energy stock opened at $18.62 on Friday. The business has a 50 day simple moving average of $17.83 and a two-hundred day simple moving average of $20.93. CenterPoint Energy has a 12 month low of $11.58 and a 12 month high of $30.71. The stock has a market capitalization of $9.64 billion, a P/E ratio of -13.40, a PEG ratio of 2.79 and a beta of 0.96. 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 (NYSE:CNP) last announced its earnings results on Thursday, May 7th. The utilities provider reported $0.65 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the firm earned $0.46 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. As a group, research analysts anticipate that CenterPoint Energy will post 1.27 EPS for the current fiscal year.

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

In other news, Director David J. Lesar purchased 11,110 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 6,110 shares in the company, valued at approximately $110,285.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its position in shares of CenterPoint Energy by 151.8% during the fourth 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. Filbrandt Wealth Management LLC purchased a new position in shares of CenterPoint Energy during the fourth quarter worth $32,000. Wealth Quarterback LLC boosted its position in shares of CenterPoint Energy by 471.4% during the first quarter. Wealth Quarterback LLC now owns 1,600 shares of the utilities provider’s stock worth $48,000 after buying an additional 1,320 shares during the period. Horizon Bancorp Inc. IN purchased a new position in CenterPoint Energy in the fourth quarter valued at $49,000. Finally, Arden Trust Co purchased a new position in CenterPoint Energy in the first quarter valued at $35,000. Institutional investors and hedge funds own 82.14% of the company’s stock.

CenterPoint Energy Company Profile

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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