CenterPoint Energy (NYSE:CNP) Downgraded by KeyCorp to Sector Weight

KeyCorp downgraded shares of CenterPoint Energy (NYSE:CNP) from an overweight rating to a sector weight rating in a research report released on Friday morning, MarketBeat Ratings reports.

CNP has been the topic of a number of other reports. Scotiabank cut their price objective on CenterPoint Energy from $31.00 to $29.00 and set a sector perform rating on the stock in a report on Monday, April 22nd. StockNews.com upgraded CenterPoint Energy from a sell rating to a hold rating in a research note on Wednesday. BMO Capital Markets lowered their target price on CenterPoint Energy from $32.00 to $31.00 and set an outperform rating on the stock in a research note on Wednesday. Morgan Stanley downgraded CenterPoint Energy from an overweight rating to an equal weight rating and lowered their target price for the stock from $30.00 to $29.00 in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. downgraded CenterPoint Energy from an overweight rating to a neutral rating and lowered their target price for the stock from $32.00 to $29.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $29.90.

CenterPoint Energy Stock Performance

Shares of CNP stock traded down $1.08 during mid-day trading on Friday, reaching $27.07. The stock had a trading volume of 13,867,540 shares, compared to its average volume of 7,488,031. The business’s fifty day moving average is $29.89 and its 200-day moving average is $28.85. The company has a current ratio of 1.20, a quick ratio of 1.06 and a debt-to-equity ratio of 1.79. The firm has a market cap of $17.38 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 2.48 and a beta of 0.92. CenterPoint Energy has a 1-year low of $25.42 and a 1-year high of $31.57.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The business had revenue of $1.91 billion for 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 period in the prior year, the company earned $0.28 earnings per share. On average, research analysts forecast that CenterPoint Energy will post 1.62 earnings per share for the current year.

Hedge Funds Weigh In On CenterPoint Energy

Hedge funds have recently bought and sold shares of the business. Crewe Advisors LLC purchased a new position in shares of CenterPoint Energy in the first quarter valued at approximately $25,000. Global Retirement Partners LLC lifted its position in shares of CenterPoint Energy by 163.7% in the fourth quarter. Global Retirement Partners LLC now owns 894 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 555 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of CenterPoint Energy in the second quarter valued at approximately $33,000. Olistico Wealth LLC purchased a new position in shares of CenterPoint Energy in the second quarter valued at approximately $33,000. Finally, FinTrust Capital Advisors LLC lifted its position in shares of CenterPoint Energy by 60.3% in the first quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 452 shares in the last quarter. Hedge funds and other institutional investors own 91.77% of the company’s stock.

About CenterPoint Energy

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.