CenterPoint Energy Upgraded to Hold by Royal Bank Of Canada
CenterPoint Energy (NYSE:CNP) has been upgraded by analysts at Royal Bank Of Canada to a 'hold' rating, according to a recent research note. This upgrade comes after several other equities research analysts have weighed in on the stock, with Wolfe Research reiterating an 'outperform' rating and setting a $49.00 price objective on shares of CenterPoint Energy.
In addition to the upgrades, several institutional investors have recently bought and sold shares of CNP. Deutsche Bank AG bought a new stake in CenterPoint Energy in the second quarter worth approximately $770,871,000. T. Rowe Price Investment Management Inc. boosted its holdings in CenterPoint Energy by 13.2% during the fourth quarter.
CenterPoint Energy's market cap is currently at $25.23 billion, with a PE ratio of 22.53 and a P/E/G ratio of 2.51. The company has reported revenue of $2.15 billion for its latest quarter, beating analyst estimates of $2.12 billion.
The average rating among analysts for CenterPoint Energy is 'Moderate Buy', with a consensus target price of $45.00. Several institutional investors have also set their own price targets for the company, including Deutsche Bank AG's estimate of $49.00 and T. Rowe Price Investment Management Inc.'s estimate of $46.00.