CenterPoint Energy (NYSE:CNP) Hits New 12-Month High – Here’s Why

CenterPoint Energy, Inc. (NYSE:CNP)’s stock price hit a new 52-week high on Monday . The company traded as high as $36.19 and last traded at $35.70, with a volume of 8615283 shares changing hands. The stock had previously closed at $35.96.

Analyst Ratings Changes

CNP has been the subject of a number of research reports. Guggenheim lowered CenterPoint Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. UBS Group upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $31.00 to $37.00 in a report on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their price objective on CenterPoint Energy from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Tuesday, March 11th. LADENBURG THALM/SH SH began coverage on CenterPoint Energy in a report on Thursday, December 12th. They set a “buy” rating and a $34.50 price objective on the stock. Finally, Barclays boosted their target price on CenterPoint Energy from $29.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.77.

CenterPoint Energy Stock Down 0.3 %

The company has a debt-to-equity ratio of 1.91, a current ratio of 1.08 and a quick ratio of 0.92. The company has a market cap of $23.40 billion, a P/E ratio of 22.45, a PEG ratio of 2.71 and a beta of 0.91. The stock has a 50-day moving average of $33.49 and a 200 day moving average of $31.48.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.46 billion. CenterPoint Energy had a return on equity of 10.02% and a net margin of 11.79%. Research analysts anticipate that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

Hedge Funds Weigh In On CenterPoint Energy

Hedge funds have recently made changes to their positions in the stock. J.Safra Asset Management Corp bought a new position in shares of CenterPoint Energy during the fourth quarter worth about $28,000. Wilmington Savings Fund Society FSB bought a new stake in CenterPoint Energy in the third quarter worth approximately $26,000. Assetmark Inc. increased its holdings in CenterPoint Energy by 657.1% in the fourth quarter. Assetmark Inc. now owns 901 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 782 shares in the last quarter. VSM Wealth Advisory LLC bought a new stake in CenterPoint Energy in the fourth quarter worth approximately $32,000. Finally, CoreCap Advisors LLC increased its holdings in CenterPoint Energy by 58.9% in the fourth quarter. CoreCap Advisors LLC now owns 1,079 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 400 shares in the last quarter. 91.77% of the stock is currently owned by institutional investors.

CenterPoint Energy Company Profile

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.