Citigroup took over the hedging of the shares of CenterPoint Energy (NYSE: CNP) in a note issued to investors on Monday, Fly reports. The brokerage established a “neutral” rating on the utility provider’s shares.
Several other equity analysts also recently commented on CNP. Barclays raised its price target on CenterPoint Energy shares from $ 25 to $ 28.00 and gave the company an “equal weight” rating in a report released on Tuesday, May 25. TheStreet upgraded CenterPoint Energy’s shares from a “c” rating to a “b-” rating in a report released Thursday, May 6. Evercore ISI downgraded CenterPoint Energy shares from an “outperforming” rating to an “online” rating in a report released on Friday, February 26. Mizuho raised his price target on CenterPoint Energy shares from $ 25.50 to $ 27.00 and gave the company a “buy” rating in a report released Thursday, May 13. They noted that the move was an appraisal call. Finally, Credit Suisse Group increased its price target on CenterPoint Energy shares from $ 25.00 to $ 28.00 and gave the company an “outperformance” rating in a report released on Friday, April 16. One research analyst rated the stock with a sell rating, six assigned a conservation rating, and five assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $ 24.90.
NYSE CNP opened at $ 26.15 on Monday. CenterPoint Energy has a twelve-month low of $ 17.34 and a twelve-month high of $ 26.17. The company has a leverage ratio of 2.21, a quick ratio of 0.66, and a current ratio of 0.74. The stock has a market cap of $ 15.18 billion, a PE ratio of 24.44, a price / earnings-growth ratio of 4.28, and a beta of 0.98. The company’s 50-day mobile average price is $ 24.49.
CenterPoint Energy (NYSE: CNP) last released its quarterly earnings data on Thursday, May 6. The utility provider reported earnings per share of $ 0.59 for the quarter, beating the consensus estimate of $ 0.50 by $ 0.09. CenterPoint Energy had a net margin of 10.12% and a return on equity of 16.59%. The company posted revenue of $ 2.55 billion for the quarter, compared to $ 2.28 billion expected by analysts. During the same period of the previous year, the company posted $ 0.65 in EPS. On average, equity research analysts expect CenterPoint Energy to post earnings per share of 1.43 for the current fiscal year.
Separately, CEO David J. Lesar bought 50,000 shares of the company in a transaction on Thursday, May 13. The stock was purchased at an average price of $ 23.58 per share, for a total value of $ 1,179,000.00. The acquisition has been disclosed in a legal file with the SEC, which is available through this hyperlink. In addition, CFO Jason P. Wells bought 10,000 shares of the company in a trade on Tuesday, May 11. The shares were purchased at an average cost of $ 24.06 per share, for a total value of $ 240,600.00. Disclosure of this purchase can be found here. 0.12% of the shares are held by insiders.
Institutional investors have recently increased or reduced their stakes in the company. Cordasco Financial Network acquired a new position in CenterPoint Energy during the 1st quarter valued at $ 26,000. KB Financial Partners LLC acquired a new position in shares of CenterPoint Energy during the first quarter valued at approximately $ 28,000. Montag A & Associates Inc. acquired a new position in shares of CenterPoint Energy during the fourth quarter valued at approximately $ 30,000. Samalin Investment Counsel LLC acquired a new position in shares of CenterPoint Energy during the fourth quarter valued at approximately $ 32,000. Finally, Your Advocates Ltd. LLP increased its position in CenterPoint Energy shares by 101.4% in the first quarter. Your Advocates Ltd. LLP now owns 1,398 shares of the utility company valued at $ 32,000 after purchasing an additional 704 shares in the last quarter. 89.02% of the shares are held by hedge funds and other institutional investors.
About CenterPoint Energy
CenterPoint Energy, Inc. operates as a utility holding company in the United States. The company operates in the sectors of electricity, natural gas and intermediate investments. The Electricity segment includes electricity transmission and distribution services to electricity customers and power generation assets, as well as wholesale electricity market assets.
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