CenterPoint Energy, Inc. (NYSE:CNP) has received an updated price target for its stocks. The price target was initially set at $6 while the new target firmly rests at21.75.
The new price target is for the short term price performance of the company’s stock. However, the price is still expected to deviate from the set target. The current standard deviation for the short term target is $1.54. The company’s upper price target estimate is $25 while the lower estimate is 2.
Zacks has rated the company with a 3 point ranking, thus giving the company a hold rating on the firm’s shares for the short term. Zacks has compiled the ratings from ten brokerage firms from Wall Street. The ratings have then been compiled to produce a 2.2 average rating. 6 out of the ten firms have given the company a hold basis while the rest have recommended a strong buy.
Many analysts have responded to the Zacks estimates. However, a few have maintained their ratings on CenterPoint Energy shares. Deutsche Bank AG (USA) (NYSE:DB) is one of the firms that did not alter its ratings. Equity analysts from CenterPoint Energy raised the price target from $20 per share to $21 per share. The company recently revealed insider information to the Securities Exchange Commission through a Form 4 filing. The information disclosed that the company’s CEO and Vice President Bridge Tracy B bought shares worth $198,000 on June 2 this year.
The company announced a dividend payout of $0.2475 on August 14 this year on September 10 as the payable date. CenterPoint’s latest quarterly earnings report registered $.018 earnings per share. The next report for the third quarter is expected to be announced on November 4. Analysts have projected the earnings per share for the quarter at $.027.
CenterPoint Energy, Inc. (NYSE:CNP). is an energy delivery firm that deals with natural gas distribution, sales, and services as well as electric transmission and distribution. It also deals with field services, pipelines, and other operations.