CenterPoint Energy Inc. (CNP) Sees Unusually-High Trading Volume
Shares of CenterPoint Energy Inc. (NYSE:CNP) saw strong trading volume on Thursday . 8,054,052 shares changed hands during mid-day 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 research analysts have recently weighed in on the company. Deutsche Bank AG reissued a “hold” rating on shares of CenterPoint Energy in a research note on Monday, April 4th. TheStreet raised CenterPoint Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, May 10th. Wells Fargo & Co. downgraded CenterPoint Energy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 22nd. Goldman Sachs Group Inc. raised CenterPoint Energy from a “sell” rating to a “neutral” rating and increased their price target for the company from $18.00 to $21.00 in a research note on Monday, May 9th. They noted that the move was a valuation call. Finally, Argus reissued a “buy” rating and issued a $28.00 price target (up previously from $26.00) on shares of CenterPoint Energy in a research note on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. CenterPoint Energy has a consensus rating of “Hold” and an average price target of $21.71.
The stock’s market capitalization is $10.29 billion. The stock has a 50-day moving average price of $23.12 and a 200-day moving average price of $20.52.
CenterPoint Energy (NYSE:CNP) last posted its earnings results on Tuesday, May 10th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the previous year, the firm posted $0.30 EPS. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. On average, equities analysts forecast that CenterPoint Energy Inc. will post $1.15 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Monday, May 16th were paid 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 4.31%.
In other CenterPoint Energy 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 of the company’s stock, valued at $2,784,774.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Several hedge funds have modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its stake 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 valued at $1,022,000 after buying an additional 4,212 shares in the last quarter. Suntrust Banks Inc. boosted its stake 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 valued at $1,200,000 after buying an additional 15,928 shares in the last quarter. Bruderman Asset Management LLC boosted its stake 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 valued at $1,619,000 after buying an additional 5,746 shares in the last quarter. Sei Investments Co. boosted its stake 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 valued at $1,674,000 after buying an additional 90,260 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake 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 valued at $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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