CenterPoint Energy (CNP) Rating Increased to Neutral at Bank of America

Saturday, June 30 2018

CenterPoint Energy (CNP) Rating Increased to Neutral at Bank of America

Posted by Vincent Marion White on Jun 30th, 2018 // No Comments
CenterPoint Energy (NYSE:CNP) was upgraded by equities research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued on Thursday, Marketbeat Ratings reports.
Several other equities research analysts have also issued reports on CNP. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Monday, June 25th. Credit Suisse Group raised CenterPoint Energy from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $27.00 to $30.00 in a research note on Wednesday, May 9th. ValuEngine lowered CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. SunTrust Banks reaffirmed a “hold” rating and set a $28.00 price target on shares of CenterPoint Energy in a research note on Monday, April 23rd. Finally, Deutsche Bank raised CenterPoint Energy from a “hold” rating to a “buy” rating in a research note on Monday, May 7th. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $27.88. Get CenterPoint Energy alerts:
NYSE:CNP opened at $27.71 on Thursday. The firm has a market cap of $11.89 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 3.27 and a beta of 0.53. CenterPoint Energy has a 52-week low of $24.81 and a 52-week high of $30.45. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.17 and a quick ratio of 1.07. CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Friday, May 4th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.11. CenterPoint Energy had a return on equity of 16.22% and a net margin of 17.59%. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue was up 15.4% compared to the same quarter last year. equities research analysts anticipate that CenterPoint Energy will post 1.6 EPS for the current year.
In other news, CEO Scott M. Prochazka sold 4,000 shares of the business’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $25.75, for a total value of $103,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website . Also, Chairman Milton Carroll sold 62,779 shares of the business’s stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $26.10, for a total value of $1,638,531.90. The disclosure for this sale can be found here . In the last three months, insiders sold 77,979 shares of company stock valued at $2,036,020. 0.22% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Premia Global Advisors LLC bought a new stake in shares of CenterPoint Energy in the 4th quarter valued at about $188,000. HBK Investments L P bought a new stake in shares of CenterPoint Energy in the 4th quarter valued at about $227,000. Buckingham Asset Management LLC lifted its stake in shares of CenterPoint Energy by 39.2% in the 4th quarter. Buckingham Asset Management LLC now owns 9,596 shares of the utilities provider’s stock valued at $272,000 after acquiring an additional 2,700 shares during the last quarter. BB&T Securities LLC lifted its stake in shares of CenterPoint Energy by 24.7% in the 4th quarter. BB&T Securities LLC now owns 9,670 shares of the utilities provider’s stock valued at $274,000 after acquiring an additional 1,915 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of CenterPoint Energy in the 4th quarter valued at about $279,000. 79.03% of the stock is owned by institutional investors.
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. Receive News & Ratings for CenterPoint Energy analysts' ratings for CenterPoint Energy and related companies daily email newsletter .