CenterPoint Energy (NYSE:CNP) Given New $41.00 Price Target at JPMorgan Chase & Co.

by · The Cerbat Gem

CenterPoint Energy (NYSE:CNP – Get Free Report) had its price objective dropped by equities research analysts at JPMorgan Chase & Co. from $43.00 to $41.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 9.46% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. BMO Capital Markets increased their price target on shares of CenterPoint Energy from $39.00 to $41.00 and gave the company a “market perform” rating in a report on Thursday, October 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of CenterPoint Energy in a research note on Monday, December 1st. Evercore ISI assumed coverage on CenterPoint Energy in a research note on Monday, October 6th. They issued an “in-line” rating and a $42.00 target price on the stock. Barclays increased their target price on CenterPoint Energy from $40.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Finally, UBS Group boosted their price target on CenterPoint Energy from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CenterPoint Energy currently has a consensus rating of “Hold” and an average price target of $41.59.

Check Out Our Latest Analysis on CenterPoint Energy

CenterPoint Energy Stock Performance

Shares of NYSE CNP traded down $0.03 during mid-day trading on Thursday, hitting $37.46. 2,212,412 shares of the company were exchanged, compared to its average volume of 5,155,621. The stock has a 50 day simple moving average of $39.27 and a 200-day simple moving average of $38.06. CenterPoint Energy has a 1-year low of $30.59 and a 1-year high of $40.50. The company has a quick ratio of 0.38, a current ratio of 0.51 and a debt-to-equity ratio of 1.76. The firm has a market cap of $24.45 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 2.42 and a beta of 0.56.

CenterPoint Energy (NYSE:CNP – Get Free Report) last announced its quarterly earnings data on Thursday, October 23rd. The utilities provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.04 billion. CenterPoint Energy had a return on equity of 10.25% and a net margin of 11.37%.During the same quarter in the prior year, the company posted $0.31 earnings per share. On average, sell-side analysts forecast that CenterPoint Energy will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Phillip R. Smith sold 6,200 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $38.83, for a total value of $240,746.00. Following the completion of the sale, the director owned 65,577 shares of the company’s stock, valued at $2,546,354.91. This represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On CenterPoint Energy

Several institutional investors have recently modified their holdings of CNP. Brighton Jones LLC bought a new position in CenterPoint Energy in the 4th quarter worth about $254,000. Public Sector Pension Investment Board lifted its holdings in shares of CenterPoint Energy by 3.1% in the first quarter. Public Sector Pension Investment Board now owns 174,278 shares of the utilities provider’s stock valued at $6,314,000 after buying an additional 5,214 shares during the period. HighTower Advisors LLC grew its holdings in CenterPoint Energy by 24.7% during the first quarter. HighTower Advisors LLC now owns 100,485 shares of the utilities provider’s stock worth $3,641,000 after acquiring an additional 19,908 shares during the period. Callan Family Office LLC bought a new stake in CenterPoint Energy in the first quarter worth about $204,000. Finally, Resona Asset Management Co. Ltd. boosted its position in shares of CenterPoint Energy by 5.8% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 198,202 shares of the utilities provider’s stock valued at $7,181,000 after purchasing an additional 10,860 shares in the last quarter. Institutional investors own 91.77% of the company’s stock.

About CenterPoint Energy

(Get Free Report)

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.

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