The stock of Centerpoint Energy Inc. (NYSE:CNP) last traded at $27.46, up 0.51% from the previous session.
Data from the available sources indicates that Centerpoint Energy Inc. (NYSE:CNP) is covered by 17 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $34.00 and a low of $27.00, we find $30.00. Given the previous closing price of $27.32, this indicates a potential upside of 9.81 percent. CNP stock price is now -1.16% away from the 50-day moving average and -5.43% away from the 200-day moving average. The market capitalization of the company currently stands at $17.33B.
In total, 5 analysts have assigned it a hold rating, and 10 have given it a buy rating. Brokers who have rated the stock have averaged $30.87 as their price target over the next twelve months.
With the price target maintained at $29, KeyBanc Capital Markets recently Upgraded its rating from Sector Weight to Overweight for Centerpoint Energy Inc. (NYSE: CNP).
In other news, Smitherman Barry T, Director sold 5,000 shares of the company’s stock on May 08. The stock was sold for $152,548 at an average price of $30.51. Upon completion of the transaction, the Director now directly owns 21,075 shares in the company, valued at $0.58 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 05, Director Pound Ted sold 2,770 shares of the business’s stock. A total of $84,485 was realized by selling the stock at an average price of $30.50. This leaves the insider owning 46,541 shares of the company worth $1.28 million. Insiders disposed of 809,281 shares of company stock worth roughly $22.22 million over the past 1 year. A total of 0.27% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CNP stock. A new stake in Centerpoint Energy Inc. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $299,535,000. SCHONFELD STRATEGIC ADVISORS LLC invested $27,518,000 in shares of CNP during the first quarter. In the first quarter, UNISUPER MANAGEMENT PTY LTD acquired a new stake in Centerpoint Energy Inc. valued at approximately $27,169,000. RENAISSANCE TECHNOLOGIES LLC acquired a new stake in CNP for approximately $19,170,000. REAVES W H & CO INC purchased a new stake in CNP valued at around $13,169,000 in the second quarter. In total, there are 879 active investors with 90.16% ownership of the company’s stock.
During the past 12 months, Centerpoint Energy Inc. has had a low of $25.42 and a high of $31.52. As of last week, the company has a debt-to-equity ratio of 1.69, a current ratio of 0.88, and a quick ratio of 0.65. The fifty day moving average price for CNP is $27.77 and a two-hundred day moving average price translates $29.02 for the stock.
The latest earnings results from Centerpoint Energy Inc. (NYSE: CNP) was released for Jun, 2023. According to the Utilities – Regulated Electric Company, earnings per share came in at $0.28, beating analysts’ expectations of $0.27 by 0.01. This compares to $0.28 EPS in the same period last year. The net profit margin was 7.88% and return on equity was 7.64% for CNP. The company reported revenue of $1.88 billion for the quarter, compared to $1.94 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.55 percent. For the current quarter, analysts expect CNP to generate $2.09B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/14/2023. Investors who held shares on 08/17/2023 were paid a $0.19 dividend. On an annualized basis, this represents a $0.76 dividend and a 2.75% percent yield. There was an ex-dividend date of 08/16/2023 for this dividend. In terms of dividend payout ratio, CNP is presently at 43.91%.
Centerpoint Energy Inc.(CNP) Company Profile
CenterPoint Energy, Inc. operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market. The Natural Gas segment engages in the intrastate natural gas sales, natural gas transportation and distribution for residential, commercial, industrial and institutional customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio, and Texas; permanent pipeline connections through interconnects with various interstate and intrastate pipeline companies; and provision of home appliance maintenance and repair services to customers in Minnesota and home repair protection plans to natural gas customers in Indiana, Mississippi, Ohio, and Texas through a third party. As of December 31, 2022, it served approximately 2,534,730 metered customers; owned 349 substations with transformer capacity of 78,956 megavolt amperes; and owned and operated 217 miles of intrastate pipeline in Louisiana, Texas, and Oklahoma. The company was founded in 1866 and is headquartered in Houston, Texas.
