CenterPoint Energy (NYSE:CNP) Rating Lowered to Sell at StockNews.com

CenterPoint Energy (NYSE:CNP) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Sunday.

A number of other research firms also recently commented on CNP. KeyCorp downgraded shares of CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Bank of America assumed coverage on CenterPoint Energy in a research report on Thursday, September 12th. They set a “neutral” rating and a $29.00 price objective for the company. Wells Fargo & Company downgraded CenterPoint Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $32.00 to $28.00 in a report on Tuesday, August 13th. Morgan Stanley boosted their price target on CenterPoint Energy from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $28.00 price objective on shares of CenterPoint Energy in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $29.55.

CenterPoint Energy Stock Up 0.7 %

CNP stock opened at $30.52 on Friday. The stock has a market capitalization of $19.52 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.51 and a beta of 0.92. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.20 and a quick ratio of 0.99. CenterPoint Energy has a 1-year low of $25.41 and a 1-year high of $31.57. The business has a fifty day moving average price of $27.59 and a 200-day moving average price of $28.77.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. During the same quarter in the previous year, the firm earned $0.28 EPS. Equities analysts forecast that CenterPoint Energy will post 1.62 earnings per share for the current fiscal year.

Institutional Trading of CenterPoint Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. Crewe Advisors LLC purchased a new stake in CenterPoint Energy in the 1st quarter worth $25,000. Rothschild Investment LLC purchased a new position in CenterPoint Energy in the 2nd quarter worth approximately $33,000. Olistico Wealth LLC purchased a new position in CenterPoint Energy in the 2nd quarter worth approximately $33,000. Strategic Investment Solutions Inc. IL purchased a new stake in CenterPoint Energy during the 2nd quarter valued at approximately $36,000. Finally, FinTrust Capital Advisors LLC raised its position in shares of CenterPoint Energy by 60.3% during the first quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock valued at $34,000 after buying an additional 452 shares during 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.