CenterPoint Energy, Inc. (CNP) Sets New 52-Week High at $29.51
CenterPoint Energy, Inc. (NYSE:CNP)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $29.51 and last traded at $29.51, with a volume of 2,407,783 shares changing hands. The stock had previously closed at $29.28.
Several brokerages have recently issued reports on CNP. BidaskClub upgraded CenterPoint Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research cut CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Credit Suisse Group upgraded CenterPoint Energy from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $28.82 to $29.00 in a research note on Monday, August 14th. Finally, J P Morgan Chase & Co began coverage on CenterPoint Energy in a research note on Thursday, June 29th. They issued a “neutral” rating and a $29.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $27.78.
The firm has a 50 day moving average of $28.18 and a 200-day moving average of $27.84. The firm has a market capitalization of $12.72 billion, a PE ratio of 21.08 and a beta of 0.64.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.07. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.98 billion. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. CenterPoint Energy’s revenue for the quarter was up 36.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 earnings per share. On average, equities analysts forecast that CenterPoint Energy, Inc. will post $1.34 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Monday, August 14th. CenterPoint Energy’s dividend payout ratio is presently 76.98%.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $28.67, for a total transaction of $28,670.00. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 3,000 shares of company stock worth $84,560. 0.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AXA purchased a new position in CenterPoint Energy during the first quarter worth approximately $3,436,000. BlackRock Inc. increased its position in CenterPoint Energy by 1,521.6% in the first quarter. BlackRock Inc. now owns 39,034,890 shares of the utilities provider’s stock worth $1,076,193,000 after buying an additional 36,627,665 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in CenterPoint Energy by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 10,912 shares of the utilities provider’s stock worth $281,000 after buying an additional 529 shares in the last quarter. Sawtooth Solutions LLC increased its position in CenterPoint Energy by 13.1% in the first quarter. Sawtooth Solutions LLC now owns 10,003 shares of the utilities provider’s stock worth $276,000 after buying an additional 1,162 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in CenterPoint Energy by 647.6% in the first quarter. BNP Paribas Arbitrage SA now owns 762,017 shares of the utilities provider’s stock worth $21,009,000 after buying an additional 660,085 shares in the last quarter. 76.76% of the stock is currently owned by institutional investors.
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About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.