KeyCorp Increases CenterPoint Energy (NYSE:CNP) Price Target to $34.00

CenterPoint Energy (NYSE:CNPGet Rating) had its price objective increased by KeyCorp from $33.00 to $34.00 in a research report sent to investors on Wednesday morning, Marketbeat reports. KeyCorp currently has an overweight rating on the utilities provider’s stock.

CNP has been the subject of a number of other reports. StockNews.com began coverage on CenterPoint Energy in a research report on Thursday, March 31st. They set a sell rating for the company. Mizuho boosted their price target on shares of CenterPoint Energy from $31.00 to $34.00 and gave the stock a buy rating in a research note on Wednesday, April 6th. Morgan Stanley boosted their price target on shares of CenterPoint Energy from $30.00 to $31.00 and gave the stock an overweight rating in a research note on Wednesday, March 23rd. UBS Group upgraded shares of CenterPoint Energy from a neutral rating to a buy rating and boosted their price target for the stock from $27.00 to $30.00 in a research note on Tuesday, February 15th. Finally, Citigroup boosted their price target on shares of CenterPoint Energy from $26.00 to $29.00 and gave the stock a neutral rating in a research note on Wednesday, February 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, CenterPoint Energy currently has an average rating of Buy and a consensus target price of $30.85.

Shares of CNP opened at $31.83 on Wednesday. CenterPoint Energy has a 52-week low of $23.58 and a 52-week high of $33.00. The company has a market capitalization of $20.03 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 6.15 and a beta of 0.94. The stock has a fifty day simple moving average of $29.51 and a two-hundred day simple moving average of $27.91. The company has a quick ratio of 1.57, a current ratio of 1.72 and a debt-to-equity ratio of 1.80.

CenterPoint Energy (NYSE:CNPGet Rating) last announced its quarterly earnings results on Tuesday, February 22nd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.05. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $1.72 billion. CenterPoint Energy had a net margin of 17.79% and a return on equity of 14.46%. During the same quarter last year, the firm earned $0.29 EPS. As a group, equities analysts anticipate that CenterPoint Energy will post 1.38 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 9th. Investors of record on Thursday, May 19th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.14%. CenterPoint Energy’s dividend payout ratio (DPR) is 30.09%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JNBA Financial Advisors grew its holdings in shares of CenterPoint Energy by 335.5% during the fourth quarter. JNBA Financial Advisors now owns 958 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 738 shares during the last quarter. PYA Waltman Capital LLC acquired a new stake in shares of CenterPoint Energy in the 4th quarter valued at about $28,000. First Command Bank grew its stake in CenterPoint Energy by 1,427.8% during the 3rd quarter. First Command Bank now owns 1,375 shares of the utilities provider’s stock worth $34,000 after buying an additional 1,285 shares during the last quarter. KB Financial Partners LLC acquired a new position in CenterPoint Energy during the fourth quarter worth approximately $34,000. Finally, Standard Family Office LLC purchased a new stake in CenterPoint Energy in the fourth quarter valued at approximately $36,000. 91.52% of the stock is owned by hedge funds and other institutional investors.

CenterPoint Energy Company Profile (Get Rating)

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as assets in the wholesale power market.

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