Royal Bank Of Canada Upgrades CenterPoint Energy (NYSE:CNP) to “Hold”

CenterPoint Energy (NYSE:CNP) was upgraded by research analysts at Royal Bank Of Canada to a “hold” rating in a report released on Tuesday, Zacks reports.

CNP has been the subject of several other reports. Weiss Ratings restated a “buy (b)” rating on shares of CenterPoint Energy in a research report on Friday, September 11th. BTIG Research assumed coverage on shares of CenterPoint Energy in a report on Tuesday, June 30th. They set a “neutral” rating on the stock. Evercore set a $43.00 price target on shares of CenterPoint Energy in a report on Monday, August 17th. Wall Street Zen raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Truist Financial decreased their price objective on CenterPoint Energy from $48.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, CenterPoint Energy presently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

CenterPoint Energy Stock Performance

CenterPoint Energy stock opened at $38.31 on Tuesday. CenterPoint Energy has a 12-month low of $37.22 and a 12-month high of $45.26. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 1.95. The business’s 50-day moving average price is $41.06 and its two-hundred day moving average price is $42.32. The stock has a market cap of $25.23 billion, a PE ratio of 22.53, a P/E/G ratio of 2.51 and a beta of 0.46.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.12 billion. CenterPoint Energy had a return on equity of 11.10% and a net margin of 11.61%.During the same period in the prior year, the company earned $0.29 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. As a group, analysts expect that CenterPoint Energy will post 1.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its stake in CenterPoint Energy by 49.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 235 shares during the period. Focus Financial Network Inc. raised its position in shares of CenterPoint Energy by 4.9% during the second quarter. Focus Financial Network Inc. now owns 5,089 shares of the utilities provider’s stock valued at $224,000 after buying an additional 239 shares during the last quarter. CX Institutional lifted its holdings in shares of CenterPoint Energy by 3.7% in the second quarter. CX Institutional now owns 7,643 shares of the utilities provider’s stock worth $337,000 after buying an additional 275 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of CenterPoint Energy by 14.9% in the second quarter. IFP Advisors Inc now owns 2,555 shares of the utilities provider’s stock worth $113,000 after buying an additional 332 shares in the last quarter. Finally, Accredited Investors Inc. lifted its holdings in shares of CenterPoint Energy by 5.5% in the first quarter. Accredited Investors Inc. now owns 7,222 shares of the utilities provider’s stock worth $312,000 after buying an additional 375 shares in the last quarter. Institutional investors own 91.77% of the company’s stock.

About CenterPoint Energy

CenterPoint Energy, Inc (NYSE:CNP) is an energy delivery company headquartered in Houston, Texas. Its primary businesses include electric transmission and distribution and natural gas distribution, with operations focused on delivering energy to residential, commercial and industrial customers rather than producing most of the energy it supplies.

CenterPoint operates electric utility infrastructure in the Houston metropolitan area and in southwestern Indiana. The company also provides natural gas distribution services in Indiana, Louisiana, Mississippi and Ohio.