CenterPoint Energy (NYSE:CNP) Raised to “Sector Outperform” at Scotiabank

CenterPoint Energy (NYSE:CNP) was upgraded by analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a $35.00 target price on the utilities provider’s stock, up from their previous target price of $30.00. Scotiabank’s price objective indicates a potential upside of 9.55% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. LADENBURG THALM/SH SH started coverage on CenterPoint Energy in a research report on Thursday. They set a “buy” rating and a $34.50 price target on the stock. Bank of America assumed coverage on CenterPoint Energy in a research note on Thursday, September 12th. They issued a “neutral” rating and a $29.00 price target on the stock. Wells Fargo & Company lifted their price objective on shares of CenterPoint Energy from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. UBS Group raised shares of CenterPoint Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $31.00 to $37.00 in a research report on Tuesday, December 3rd. Finally, Morgan Stanley cut their target price on shares of CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.27.

CenterPoint Energy Trading Up 0.1 %

Shares of CenterPoint Energy stock opened at $31.95 on Thursday. The stock has a market cap of $20.82 billion, a P/E ratio of 21.16, a P/E/G ratio of 2.72 and a beta of 0.96. The company has a quick ratio of 0.92, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. CenterPoint Energy has a 12-month low of $25.41 and a 12-month high of $33.00. The business’s 50 day moving average is $30.62 and its 200-day moving average is $29.41.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Monday, October 28th. The utilities provider reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.88 billion. CenterPoint Energy had a net margin of 11.25% and a return on equity of 9.73%. During the same quarter last year, the company posted $0.40 earnings per share. Equities research analysts predict that CenterPoint Energy will post 1.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CenterPoint Energy

Several institutional investors have recently made changes to their positions in CNP. Assenagon Asset Management S.A. raised its holdings in CenterPoint Energy by 185.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 235,223 shares of the utilities provider’s stock valued at $7,287,000 after acquiring an additional 152,878 shares in the last quarter. Baillie Gifford & Co. raised its stake in CenterPoint Energy by 18.7% in the second quarter. Baillie Gifford & Co. now owns 78,838 shares of the utilities provider’s stock valued at $2,442,000 after purchasing an additional 12,422 shares in the last quarter. ING Groep NV bought a new stake in CenterPoint Energy during the third quarter worth about $2,564,000. DRW Securities LLC acquired a new stake in CenterPoint Energy during the third quarter worth about $908,000. Finally, Bank of Montreal Can increased its holdings in CenterPoint Energy by 13.4% in the 2nd quarter. Bank of Montreal Can now owns 1,052,237 shares of the utilities provider’s stock valued at $32,630,000 after buying an additional 124,529 shares during the period. 91.77% of the stock is currently owned by institutional investors.

About CenterPoint Energy

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.