Traders Buy CenterPoint Energy Inc. (CNP) on Weakness
Traders purchased shares of CenterPoint Energy Inc. (NYSE:CNP) on weakness during trading hours on Monday. $36.55 million flowed into the stock on the tick-up and $10.59 million flowed out of the stock on the tick-down, for a money net flow of $25.96 million into the stock. Of all stocks tracked, CenterPoint Energy had the 10th highest net in-flow for the day. CenterPoint Energy traded down ($0.11) for the day and closed at $23.95
CNP has been the topic of a number of research reports. Argus decreased their price target on CenterPoint Energy from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, March 24th. SunTrust Banks Inc. upped their price objective on CenterPoint Energy from $21.00 to $22.00 in a research report on Tuesday, April 12th. Deutsche Bank AG reaffirmed a “hold” rating and set a $18.00 price objective on shares of CenterPoint Energy in a research report on Tuesday, April 19th. Wells Fargo & Co. lowered CenterPoint Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 22nd. Finally, Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. CenterPoint Energy has an average rating of “Hold” and an average target price of $21.71.
The firm’s market cap is $10.31 billion. The company’s 50-day moving average is $23.41 and its 200-day moving average is $20.79.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.05. The company earned $1.98 billion during the quarter, compared to analyst estimates of $2.42 billion. The firm’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 EPS. On average, equities research analysts expect that CenterPoint Energy Inc. will post $1.15 EPS for the current fiscal year.
In other CenterPoint Energy news, VP Joseph B. Mcgoldrick sold 9,000 shares of CenterPoint Energy stock in a transaction on Friday, May 13th. The shares were sold at an average price of $22.23, for a total value of $200,070.00. Following the transaction, the vice president now owns 125,271 shares in the company, valued at approximately $2,784,774.33. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Other institutional investors recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised 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 during the period. Suntrust Banks Inc. raised 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 during the period. Bruderman Asset Management LLC raised 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 during the period. Sei Investments Co. raised 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 during the period. Finally, Teacher Retirement System of Texas raised 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 during the period.
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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