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

Shares of CenterPoint Energy, Inc. (NYSE:CNP) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $34.79 and last traded at $34.78, with a volume of 212494 shares trading hands. The stock had previously closed at $34.38.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CNP. LADENBURG THALM/SH SH began coverage on shares of CenterPoint Energy in a research note on Thursday, December 12th. They issued a “buy” rating and a $34.50 price objective on the stock. Barclays increased their price target on CenterPoint Energy from $29.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, January 27th. Guggenheim lowered CenterPoint Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Scotiabank upgraded CenterPoint Energy from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $30.00 to $35.00 in a report on Thursday, December 12th. Finally, UBS Group upgraded shares of CenterPoint Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $31.00 to $37.00 in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CenterPoint Energy has a consensus rating of “Hold” and a consensus target price of $31.65.

CenterPoint Energy Stock Performance

The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.91. The firm has a market capitalization of $22.07 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. The company’s 50 day moving average is $32.63 and its 200-day moving average is $30.75.

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

CenterPoint Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.60%. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, February 20th. CenterPoint Energy’s dividend payout ratio is presently 55.35%.

Hedge Funds Weigh In On CenterPoint Energy

Hedge funds have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. raised its position in shares of CenterPoint Energy by 51.3% in the third quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 375 shares during the period. Colonial Trust Co SC grew its stake in CenterPoint Energy by 9.2% in the 4th quarter. Colonial Trust Co SC now owns 4,601 shares of the utilities provider’s stock valued at $146,000 after buying an additional 388 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in CenterPoint Energy by 8.2% during the 4th quarter. Quadrant Capital Group LLC now owns 5,167 shares of the utilities provider’s stock valued at $164,000 after acquiring an additional 390 shares during the period. CoreCap Advisors LLC lifted its position in shares of CenterPoint Energy by 58.9% during the fourth quarter. CoreCap Advisors LLC now owns 1,079 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 400 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of CenterPoint Energy by 3.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,907 shares of the utilities provider’s stock worth $378,000 after acquiring an additional 416 shares during the period. Institutional investors and hedge funds own 91.77% 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 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.