ugg CenterPoint Energy (CNP) Rating Lowered to Neutral at Guggenheim

December 17, 2017

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ugg CenterPoint Energy (CNP) Rating Lowered to Neutral at Guggenheim-1CenterPoint Energy (NYSE:CNP) was downgraded by Guggenheim from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, December 4th, Marketbeat.com reports. The analysts noted that the move was a valuation call.

Other research analysts have also issued research reports about the stock. BidaskClub upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Credit Suisse Group upgraded shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $28.82 to $29.00 in a research report on Monday, August 14th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $29.00 price objective on shares of CenterPoint Energy in a research note on Monday, September 11th. Zacks Investment Research lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 28th. Finally, Bank of America assumed coverage on shares of CenterPoint Energy in a research note on Tuesday, October 24th. They set a “neutral” rating and a $30.00 target price for the company. Eleven research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. CenterPoint Energy has an average rating of “Hold” and a consensus price target of $28.89.

CenterPoint Energy (NYSE:CNP) opened at $28.80 on Monday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.77 and a current ratio of 0.91. CenterPoint Energy has a 12-month low of $24.13 and a 12-month high of $30.45. The company has a market cap of $12,334.02, a PE ratio of 21.84, a PEG ratio of 3.81 and a beta of 0.62.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Friday, November 3rd. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.39. CenterPoint Energy had a net margin of 6.59% and a return on equity of 16.00%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter last year, the company posted $0.41 earnings per share. CenterPoint Energy’s revenue was up 11.1% on a year-over-year basis. research analysts forecast that CenterPoint Energy will post 1.31 EPS for the current fiscal year.

In other news, CEO Scott M. Prochazka sold 1,000 shares of CenterPoint Energy stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $29.08, for a total transaction of $29,080.00. The ugg australia sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 3,000 shares of company stock worth $88,080. 0.20% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Carnegie Capital Asset Management LLC lifted its position in shares of CenterPoint Energy by 0.3% during the second quarter. Carnegie Capital Asset Management LLC now owns 12,513 shares of the utilities provider’s stock worth $353,000 after purchasing an additional 39 shares in the last quarter. Paradigm Asset Management Co. LLC lifted its position in shares of CenterPoint Energy by 2.2% during the second quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 100 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of CenterPoint Energy by 0.3% during the second quarter. CIBC Asset Management Inc now owns 43,536 shares of the utilities provider’s stock worth $1,192,000 after purchasing an additional 144 shares in the last quarter. IHT Wealth Management LLC acquired a new position in shares of CenterPoint Energy during the second quarter worth approximately $153,000. Finally, Veritable L.P. lifted its position in shares of CenterPoint Energy by 2.9% during the second quarter. Veritable L.P. now owns 11,989 shares of the utilities provider’s stock worth $328,000 after purchasing an additional 342 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.

ugg CenterPoint Energy (CNP) Rating Lowered to Neutral at Guggenheim-2

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