Investors Buy Shares of CenterPoint Energy Inc. (CNP) on Weakness
Traders bought shares of CenterPoint Energy Inc. (NYSE:CNP) on weakness during trading on Wednesday. $25.54 million flowed into the stock on the tick-up and $8.33 million flowed out of the stock on the tick-down, for a money net flow of $17.21 million into the stock. Of all companies tracked, CenterPoint Energy had the 10th highest net in-flow for the day. CenterPoint Energy traded down ($0.09) for the day and closed at $22.76
Several brokerages have issued reports on CNP. RBC Capital Markets set a $26.00 price target on CenterPoint Energy and gave the stock a “buy” rating in a report on Monday, August 8th. TheStreet upgraded CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Tuesday, May 10th. Wells Fargo & Co. downgraded CenterPoint Energy from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 22nd. Goldman Sachs Group Inc. upgraded CenterPoint Energy from a “sell” rating to a “neutral” rating and increased their price target for the stock from $18.00 to $21.00 in a report on Monday, May 9th. They noted that the move was a valuation call. Finally, SunTrust Banks Inc. restated a “hold” rating and issued a $24.00 price target on shares of CenterPoint Energy in a report on Tuesday, August 2nd. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $22.57.
The company’s market capitalization is $9.80 billion. The firm’s 50-day moving average price is $23.43 and its 200-day moving average price is $21.78.
CenterPoint Energy (NYSE:CNP) last posted its earnings results on Friday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.03. The business earned $1.57 billion during the quarter, compared to analysts’ expectations of $1.62 billion. CenterPoint Energy’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.19 EPS. Analysts predict that CenterPoint Energy Inc. will post $1.15 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Tuesday, August 16th will be given a dividend of $0.2575 per share. The ex-dividend date of this dividend is Friday, August 12th. This represents a $1.03 annualized dividend and a dividend yield of 4.53%.
Several large investors recently bought and sold shares of CNP. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake in 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 valued at $1,022,000 after buying an additional 4,212 shares in the last quarter. Suntrust Banks Inc. increased its stake in CenterPoint Energy by 32.2% in the fourth quarter. Suntrust Banks Inc. now owns 65,438 shares of the company’s stock valued at $1,200,000 after buying an additional 15,928 shares in the last quarter. Calvert Investment Management Inc. increased its stake in CenterPoint Energy by 73.9% in the fourth quarter. Calvert Investment Management Inc. now owns 78,402 shares of the company’s stock valued at $1,439,000 after buying an additional 33,326 shares in the last quarter. Victory Capital Management Inc. increased its stake in CenterPoint Energy by 25.9% in the fourth quarter. Victory Capital Management Inc. now owns 121,460 shares of the company’s stock valued at $2,230,000 after buying an additional 25,016 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in CenterPoint Energy by 1.8% in the fourth quarter. Principal Financial Group Inc. now owns 614,686 shares of the company’s stock valued at $11,286,000 after buying an additional 10,704 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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