Scotiabank Trims CenterPoint Energy (NYSE:CNP) Target Price to $29.00

CenterPoint Energy (NYSE:CNP) had its price objective cut by Scotiabank from $31.00 to $29.00 in a research report report published on Monday morning, Benzinga reports. They currently have a sector perform rating on the utilities provider’s stock.

CNP has been the subject of a number of other research reports. Mizuho reiterated a neutral rating and set a $29.00 price objective (down previously from $30.00) on shares of CenterPoint Energy in a research report on Wednesday, February 21st. Barclays upped their price objective on CenterPoint Energy from $28.00 to $29.00 and gave the company an underweight rating in a research report on Thursday, March 14th. Guggenheim reduced their price objective on CenterPoint Energy from $33.00 to $32.00 and set a buy rating for the company in a research report on Wednesday, February 21st. Evercore ISI cut CenterPoint Energy from an outperform rating to an in-line rating and upped their price objective for the company from $29.00 to $30.00 in a research report on Tuesday, January 23rd. Finally, KeyCorp upped their price objective on CenterPoint Energy from $29.00 to $31.00 and gave the company an overweight rating in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $30.18.

CenterPoint Energy Trading Up 1.2 %

Shares of NYSE:CNP opened at $29.07 on Monday. The company has a market cap of $18.40 billion, a P/E ratio of 21.38, a PEG ratio of 2.53 and a beta of 0.92. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.78 and a quick ratio of 0.58. CenterPoint Energy has a 1 year low of $25.42 and a 1 year high of $31.43. The stock’s fifty day moving average price is $27.99 and its 200-day moving average price is $27.99.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.83 billion. CenterPoint Energy had a return on equity of 10.44% and a net margin of 10.55%. During the same period in the prior year, the company posted $0.28 earnings per share. Sell-side analysts expect that CenterPoint Energy will post 1.62 earnings per share for the current year.

Institutional Trading of CenterPoint Energy

Institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. boosted its stake in CenterPoint Energy by 2.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 52,322 shares of the utilities provider’s stock valued at $1,491,000 after buying an additional 1,134 shares during the last quarter. Simplicity Wealth LLC bought a new position in CenterPoint Energy during the first quarter valued at approximately $545,000. Assenagon Asset Management S.A. bought a new position in CenterPoint Energy during the first quarter valued at approximately $2,346,000. Fifth Third Bancorp boosted its stake in CenterPoint Energy by 2.3% during the first quarter. Fifth Third Bancorp now owns 15,773 shares of the utilities provider’s stock valued at $449,000 after buying an additional 357 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its stake in CenterPoint Energy by 1.5% during the first quarter. Maryland State Retirement & Pension System now owns 587,496 shares of the utilities provider’s stock valued at $16,203,000 after buying an additional 8,624 shares during the last quarter. Hedge funds and other institutional investors own 91.77% of the company’s stock.

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.