CenterPoint Energy Inc. (CNP) Sees Large Volume Increase
CenterPoint Energy Inc. (NYSE:CNP) shares saw unusually-high trading volume on Monday . Approximately 17,378,043 shares traded hands during trading, an increase of 219% from the previous session’s volume of 5,447,662 shares.The stock last traded at $22.71 and had previously closed at $22.67.
CNP has been the topic of several research reports. Tudor Pickering downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Argus restated a “buy” rating and set a $28.00 price objective (up previously from $26.00) on shares of CenterPoint Energy in a report on Friday, July 1st. Wells Fargo & Co. downgraded shares of CenterPoint Energy from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 22nd. Goldman Sachs Group Inc. upgraded shares of CenterPoint Energy from a “sell” rating to a “neutral” rating and increased their target price for the company from $18.00 to $21.00 in a report on Monday, May 9th. They noted that the move was a valuation call. Finally, TheStreet upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Tuesday, May 10th. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $22.15.
The stock has a 50 day moving average price of $23.75 and a 200-day moving average price of $21.41. The company’s market capitalization is $9.78 billion.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Friday, August 5th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by $0.03. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the business posted $0.19 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts forecast that CenterPoint Energy Inc. will post $1.15 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Tuesday, August 16th will be issued a dividend of $0.2575 per share. This represents a $1.03 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Friday, August 12th.
In other news, VP Joseph B. Mcgoldrick sold 9,000 shares of the business’s stock in a transaction on Friday, May 13th. The shares were sold at an average price of $22.23, for a total transaction of $200,070.00. Following the sale, 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 is accessible through this link.
Other hedge funds have made changes to their positions in the company. Gulf International Bank UK Ltd boosted its stake in shares of CenterPoint Energy by 5.2% in the fourth quarter. Gulf International Bank UK Ltd now owns 120,571 shares of the company’s stock worth $2,214,000 after buying an additional 6,000 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of CenterPoint Energy by 7.8% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 188,390 shares of the company’s stock worth $3,458,000 after buying an additional 13,613 shares during the period. Bank of Montreal Can boosted its stake in shares of CenterPoint Energy by 20.3% in the fourth quarter. Bank of Montreal Can now owns 835,240 shares of the company’s stock worth $15,334,000 after buying an additional 141,223 shares during the period. Wells Fargo & Company MN boosted its stake in shares of CenterPoint Energy by 546.0% in the fourth quarter. Wells Fargo & Company MN now owns 3,964,281 shares of the company’s stock worth $72,785,000 after buying an additional 3,350,658 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of CenterPoint Energy by 1.8% in the fourth quarter. Principal Financial Group Inc. now owns 614,686 shares of the company’s stock worth $11,286,000 after buying an additional 10,704 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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