Investors Buy CenterPoint Energy, Inc. (CNP) on Weakness
Traders purchased shares of CenterPoint Energy, Inc. (NYSE:CNP) on weakness during trading on Thursday. $33.44 million flowed into the stock on the tick-up and $9.38 million flowed out of the stock on the tick-down, for a money net flow of $24.06 million into the stock. Of all stocks tracked, CenterPoint Energy had the 22nd highest net in-flow for the day. CenterPoint Energy traded down ($0.04) for the day and closed at $29.62
Several research analysts recently issued reports on CNP shares. Zacks Investment Research raised CenterPoint Energy from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Friday, June 16th. BidaskClub raised CenterPoint Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Credit Suisse Group raised CenterPoint Energy from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $28.82 to $29.00 in a research report on Monday, August 14th. Finally, J P Morgan Chase & Co started coverage on CenterPoint Energy in a research report on Thursday, June 29th. They set a “neutral” rating and a $29.00 target price on the stock. Nine analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CenterPoint Energy presently has an average rating of “Hold” and a consensus price target of $27.78.
The firm has a 50-day moving average of $28.75 and a 200-day moving average of $28.03. The firm has a market cap of $12.77 billion, a price-to-earnings ratio of 21.16 and a beta of 0.63.
CenterPoint Energy (NYSE:CNP) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.07. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.98 billion. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The company’s quarterly revenue was up 36.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 EPS. Equities analysts expect that CenterPoint Energy, Inc. will post $1.34 EPS for the current year.
The firm 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 $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Monday, August 14th. CenterPoint Energy’s payout ratio is 76.98%.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of CenterPoint Energy stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $28.23, for a total value of $28,230.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in CenterPoint Energy by 18.0% in the first quarter. Van ECK Associates Corp now owns 3,695 shares of the utilities provider’s stock worth $102,000 after buying an additional 564 shares during the last quarter. Paradigm Asset Management Co. LLC raised its stake in CenterPoint Energy by 2.2% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock worth $126,000 after buying an additional 100 shares during the last quarter. Johnson Financial Group Inc. raised its stake in CenterPoint Energy by 28.8% in the first quarter. Johnson Financial Group Inc. now owns 4,843 shares of the utilities provider’s stock worth $134,000 after buying an additional 1,084 shares during the last quarter. IHT Wealth Management LLC acquired a new stake in CenterPoint Energy during the second quarter worth approximately $153,000. Finally, Pinebridge Investments L.P. acquired a new stake in CenterPoint Energy during the second quarter worth approximately $154,000. 76.85% of the stock is owned by institutional investors and hedge funds.
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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.
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