CenterPoint Energy Inc. (CNP) Sees Unusually-High Trading Volume
CenterPoint Energy Inc. (NYSE:CNP) shares saw unusually-strong trading volume on Thursday . Approximately 8,054,052 shares changed hands during trading, an increase of 15% from the previous session’s volume of 7,027,355 shares.The stock last traded at $23.52 and had previously closed at $24.05.
A number of equities research analysts have recently weighed in on CNP shares. Argus dropped their target price on CenterPoint Energy from $26.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, March 24th. Tudor Pickering downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Co. cut CenterPoint Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 22nd. Goldman Sachs Group Inc. upgraded CenterPoint Energy from a “sell” rating to a “neutral” rating and raised their price target for the stock from $18.00 to $21.00 in a research report on Monday, May 9th. They noted that the move was a valuation call. Finally, TheStreet upgraded CenterPoint Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $21.71.
The stock’s 50-day moving average price is $23.06 and its 200-day moving average price is $20.47. The firm’s market cap is $10.13 billion.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the prior year, the company earned $0.30 EPS. The firm’s quarterly revenue was down 18.5% on a year-over-year basis. On average, equities analysts forecast that CenterPoint Energy Inc. will post $1.15 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Monday, May 16th were given a dividend of $0.2575 per share. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 4.38%.
In other news, VP Joseph B. Mcgoldrick sold 9,000 shares of the company’s stock in a transaction on Friday, May 13th. The stock was sold at an average price of $22.23, for a total transaction of $200,070.00. Following the transaction, the vice president now owns 125,271 shares of the company’s stock, valued at approximately $2,784,774.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Other hedge funds and institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its position in shares of CenterPoint Energy by 8.2% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 55,669 shares of the company’s stock worth $1,022,000 after buying an additional 4,212 shares in the last quarter. Suntrust Banks Inc. boosted its position in shares of CenterPoint Energy by 32.2% in the fourth quarter. Suntrust Banks Inc. now owns 65,438 shares of the company’s stock worth $1,200,000 after buying an additional 15,928 shares in the last quarter. Bruderman Asset Management LLC boosted its position in shares of CenterPoint Energy by 7.0% in the fourth quarter. Bruderman Asset Management LLC now owns 88,185 shares of the company’s stock worth $1,619,000 after buying an additional 5,746 shares in the last quarter. Sei Investments Co. boosted its position in shares of CenterPoint Energy by 9,843.0% in the fourth quarter. Sei Investments Co. now owns 91,177 shares of the company’s stock worth $1,674,000 after buying an additional 90,260 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of CenterPoint Energy by 336.8% in the fourth quarter. Teacher Retirement System of Texas now owns 95,643 shares of the company’s stock worth $1,756,000 after buying an additional 73,747 shares in the last quarter.
CenterPoint Energy, Inc is a public utility holding company. The Company’s segments include Electric Transmission & Distribution, Natural Gas Distribution, Energy Services, Midstream Investments and Other Operations. Its Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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