CenterPoint Energy Inc. (CNP) Hits New 52-Week High at $24.21
Shares of CenterPoint Energy Inc. (NYSE:CNP) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $24.21 and last traded at $24.12, with a volume of 1,597,230 shares. The stock had previously closed at $24.12.
Several analysts have issued reports on CNP shares. Deutsche Bank AG reiterated a “hold” rating on shares of CenterPoint Energy in a research note on Monday, April 4th. SunTrust Banks Inc. increased their price target on shares of CenterPoint Energy from $21.00 to $22.00 in a report on Tuesday, April 12th. Goldman Sachs Group Inc. raised shares of 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. Credit Suisse Group AG reissued a “hold” rating and issued a $24.00 price target on shares of CenterPoint Energy in a report on Wednesday, May 11th. Finally, TheStreet raised shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Tuesday, May 10th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. CenterPoint Energy has a consensus rating of “Hold” and a consensus target price of $21.71.
The firm’s market cap is $10.63 billion. The company’s 50-day moving average is $23.58 and its 200-day moving average is $20.91.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate 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 firm earned $0.30 EPS. CenterPoint Energy’s revenue for the quarter was down 18.5% compared to the same quarter last year. On average, equities research analysts forecast that CenterPoint Energy Inc. will post $1.15 earnings per share for the current year.
In other CenterPoint Energy news, VP Joseph B. Mcgoldrick sold 9,000 shares of CenterPoint Energy stock in a transaction that occurred 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 transaction, the vice president now owns 125,271 shares of the company’s stock, valued at $2,784,774.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Other institutional investors recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position 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 during the period. Suntrust Banks Inc. increased its position 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 during the period. Sei Investments Co. increased its position in 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 during the period. Teacher Retirement System of Texas increased its position in 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 during the period. Finally, PNC Financial Services Group Inc. increased its position in CenterPoint Energy by 12.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 103,414 shares of the company’s stock valued at $1,898,000 after buying an additional 11,772 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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