Morgan Stanley Forecasts Strong Price Appreciation for CenterPoint Energy (NYSE:CNP) Stock

by · The Cerbat Gem

CenterPoint Energy (NYSE:CNP – Get Free Report) had its price target boosted by investment analysts at Morgan Stanley from $38.00 to $39.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price suggests a potential downside of 3.62% from the company’s current price.

Several other analysts also recently weighed in on CNP. Weiss Ratings reissued a “buy (b)” rating on shares of CenterPoint Energy in a research note on Friday, September 11th. Wall Street Zen raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. JPMorgan Chase & Co. dropped their target price on CenterPoint Energy from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Citigroup dropped their target price on CenterPoint Energy from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, October 8th. Finally, Barclays reduced their price target on CenterPoint Energy from $44.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Monday. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.12.

View Our Latest Report on CNP

CenterPoint Energy Trading Up 0.6%

Shares of CNP traded up $0.22 during mid-day trading on Wednesday, reaching $40.46. The company’s stock had a trading volume of 970,711 shares, compared to its average volume of 5,818,723. The stock has a market cap of $26.65 billion, a PE ratio of 23.79, a P/E/G ratio of 2.61 and a beta of 0.47. The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 1.95. CenterPoint Energy has a 52 week low of $36.37 and a 52 week high of $45.26. The company’s fifty day moving average price is $38.97 and its two-hundred day moving average price is $41.50.

CenterPoint Energy (NYSE:CNP – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. CenterPoint Energy had a net margin of 11.61% and a return on equity of 11.10%. The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter in the prior year, the company earned $0.29 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. On average, analysts predict that CenterPoint Energy will post 1.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CenterPoint Energy

A number of institutional investors have recently bought and sold shares of CNP. Sowell Financial Services LLC grew its holdings in shares of CenterPoint Energy by 39.2% during the 3rd quarter. Sowell Financial Services LLC now owns 13,193 shares of the utilities provider’s stock worth $486,000 after acquiring an additional 3,717 shares during the period. Nisa Investment Advisors LLC raised its position in shares of CenterPoint Energy by 7.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 182,038 shares of the utilities provider’s stock worth $6,699,000 after acquiring an additional 12,728 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its stake in shares of CenterPoint Energy by 10.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 16,027 shares of the utilities provider’s stock valued at $590,000 after purchasing an additional 1,489 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of CenterPoint Energy by 21.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 108,637 shares of the utilities provider’s stock valued at $3,998,000 after purchasing an additional 19,372 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of CenterPoint Energy by 146.0% during the third quarter. IFP Advisors Inc now owns 6,286 shares of the utilities provider’s stock valued at $231,000 after purchasing an additional 3,731 shares in the last quarter. 91.77% of the stock is owned by institutional investors.

About CenterPoint Energy

(Get Free Report)

CenterPoint Energy, Inc is a public utility holding company that provides electric and natural gas energy services in the United States. Its operations include electric transmission and distribution, natural gas distribution, and related infrastructure services for residential, commercial, and industrial customers.

The company is the primary electric delivery utility for the Houston, Texas, area and operates electric and natural gas businesses in several states, including Texas, Indiana, Ohio, Louisiana, and Mississippi.

Further Reading