CenterPoint Energy’s (CNP) Outperform Rating Reiterated at Royal Bank of Canada

CenterPoint Energy (NYSE:CNP)‘s stock had its “outperform” rating restated by Royal Bank of Canada in a research note issued to investors on Friday, The Fly reports. They currently have a $28.00 target price on the utilities provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 8.89% from the company’s current price.

Several other brokerages also recently commented on CNP. Morgan Stanley reissued a “hold” rating and issued a $27.00 price target (down from $31.00) on shares of CenterPoint Energy in a report on Monday, November 18th. Zacks Investment Research downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Monday, October 14th. Barclays downgraded shares of CenterPoint Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, November 27th. Goldman Sachs Group cut their price target on shares of CenterPoint Energy from $33.00 to $29.00 and set a “buy” rating for the company in a report on Monday, November 18th. Finally, UBS Group cut their price target on shares of CenterPoint Energy from $32.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $28.64.

CNP traded up $0.89 on Friday, hitting $25.72. The company’s stock had a trading volume of 7,257,301 shares, compared to its average volume of 6,063,442. The company’s 50 day simple moving average is $26.64 and its 200-day simple moving average is $28.30. The firm has a market cap of $12.61 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 3.14 and a beta of 0.41. CenterPoint Energy has a 12 month low of $24.25 and a 12 month high of $31.42. The company has a quick ratio of 0.83, a current ratio of 0.99 and a debt-to-equity ratio of 2.12.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.10. CenterPoint Energy had a net margin of 6.23% and a return on equity of 14.51%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same period last year, the firm earned $0.39 EPS. CenterPoint Energy’s revenue for the quarter was up 24.0% on a year-over-year basis. Equities analysts predict that CenterPoint Energy will post 1.68 earnings per share for the current fiscal year.

In other news, CEO Scott M. Prochazka sold 7,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $29.02, for a total transaction of $203,140.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 21,000 shares of company stock worth $585,060. Corporate insiders own 0.24% of the company’s stock.

A number of large investors have recently modified their holdings of CNP. Prime Capital Investment Advisors LLC purchased a new position in CenterPoint Energy in the 3rd quarter worth $27,000. Oppenheimer Asset Management Inc. purchased a new position in CenterPoint Energy in the 3rd quarter worth $34,000. TD Capital Management LLC purchased a new position in CenterPoint Energy in the 2nd quarter worth $47,000. Parallel Advisors LLC raised its position in CenterPoint Energy by 161.8% in the 3rd quarter. Parallel Advisors LLC now owns 1,809 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 1,118 shares during the period. Finally, HM Payson & Co. purchased a new position in CenterPoint Energy in the 2nd quarter worth $56,000. Institutional investors own 80.07% of the company’s stock.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.

See Also: Cash Asset Ratio

The Fly

Analyst Recommendations for CenterPoint Energy (NYSE:CNP)

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