Guggenheim Lowers CenterPoint Energy (CNP) to Neutral

Guggenheim lowered shares of CenterPoint Energy (NYSE:CNP) from a buy rating to a neutral rating in a research report report published on Monday morning, MarketBeat reports. The analysts noted that the move was a valuation call.

Several other research analysts have also recently issued reports on CNP. BidaskClub upgraded shares of CenterPoint Energy from a hold rating to a buy rating in a report on Thursday, August 10th. Zacks Investment Research cut shares of CenterPoint Energy from a hold rating to a sell rating in a report on Tuesday, November 28th. Bank of America started coverage on shares of CenterPoint Energy in a report on Tuesday, October 24th. They issued a neutral rating and a $30.00 target price for the company. SunTrust Banks reiterated a hold rating and set a $30.00 price target on shares of CenterPoint Energy in a research note on Monday, October 2nd. Finally, Citigroup increased their price target on shares of CenterPoint Energy from $27.00 to $30.00 and gave the stock a neutral rating in a research note on Monday, November 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and an average target price of $28.89.

CenterPoint Energy (NYSE CNP) opened at $29.01 on Monday. CenterPoint Energy has a twelve month low of $23.75 and a twelve month high of $30.45. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.91 and a quick ratio of 0.77. The stock has a market cap of $12,461.18, a price-to-earnings ratio of 22.07, a PEG ratio of 3.85 and a beta of 0.62.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Friday, November 3rd. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. CenterPoint Energy had a net margin of 6.59% and a return on equity of 16.00%. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the prior year, the business posted $0.41 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. sell-side analysts expect that CenterPoint Energy will post 1.31 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 16th will be paid a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Wednesday, November 15th. CenterPoint Energy’s dividend payout ratio is currently 78.10%.

In related news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $29.61, for a total transaction of $29,610.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 3,000 shares of company stock valued at $88,080. 0.20% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC acquired a new stake in shares of CenterPoint Energy in the 3rd quarter worth $578,000. Moors & Cabot Inc. lifted its stake in shares of CenterPoint Energy by 5.1% in the 3rd quarter. Moors & Cabot Inc. now owns 45,587 shares of the utilities provider’s stock worth $1,338,000 after acquiring an additional 2,202 shares during the period. Cetera Advisor Networks LLC acquired a new stake in shares of CenterPoint Energy in the 3rd quarter worth $206,000. Dana Investment Advisors Inc. lifted its stake in shares of CenterPoint Energy by 1.0% in the 3rd quarter. Dana Investment Advisors Inc. now owns 516,404 shares of the utilities provider’s stock worth $15,084,000 after acquiring an additional 5,187 shares during the period. Finally, Piedmont Investment Advisors LLC lifted its stake in shares of CenterPoint Energy by 1.9% in the 3rd quarter. Piedmont Investment Advisors LLC now owns 244,234 shares of the utilities provider’s stock worth $7,134,000 after acquiring an additional 4,590 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

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CenterPoint Energy Company Profile

CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.

Analyst Recommendations for CenterPoint Energy (NYSE:CNP)

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