CenterPoint Energy, Inc. (CNP) Hits New 1-Year High at $30.27
CenterPoint Energy, Inc. (NYSE:CNP)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $30.27 and last traded at $30.30, with a volume of 705,943 shares changing hands. The stock had previously closed at $30.01.
Several equities analysts recently issued reports on CNP shares. Zacks Investment Research upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Friday, June 16th. BidaskClub upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Royal Bank Of Canada restated a “hold” rating and issued a $29.00 target price on shares of CenterPoint Energy in a report on Monday. Finally, Credit Suisse Group upgraded shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $28.82 to $29.00 in a report on Monday, August 14th. Eight analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $27.89.
The firm’s 50-day moving average is $29.07 and its 200 day moving average is $28.18. The company has a market cap of $12.92 billion, a PE ratio of 21.41 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 Thomson Reuters’ consensus estimate of $0.22 by $0.07. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the company posted $0.17 EPS. The company’s quarterly revenue was up 36.1% compared to the same quarter last year. Equities research analysts forecast that CenterPoint Energy, Inc. will post $1.34 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Wednesday, August 16th were given a $0.2675 dividend. The ex-dividend date of this dividend was Monday, August 14th. This represents a $1.07 annualized dividend and a dividend yield of 3.57%. CenterPoint Energy’s dividend payout ratio is 76.98%.
In other news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $29.61, for a total value of $29,610.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 3,000 shares of company stock valued at $85,500. Corporate insiders own 0.20% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Gs Investments Inc. purchased a new stake in shares of CenterPoint Energy in the 2nd quarter worth about $632,000. Sentry Investment Management LLC lifted its position in shares of CenterPoint Energy by 1.1% in the 2nd quarter. Sentry Investment Management LLC now owns 33,735 shares of the utilities provider’s stock worth $924,000 after purchasing an additional 351 shares during the period. WFG Advisors LP lifted its position in shares of CenterPoint Energy by 1,318.3% in the 2nd quarter. WFG Advisors LP now owns 11,857 shares of the utilities provider’s stock worth $325,000 after purchasing an additional 11,021 shares during the period. Toronto Dominion Bank lifted its position in shares of CenterPoint Energy by 25.6% in the 2nd quarter. Toronto Dominion Bank now owns 145,724 shares of the utilities provider’s stock worth $3,989,000 after purchasing an additional 29,740 shares during the period. Finally, Cookson Peirce & Co. Inc. lifted its position in shares of CenterPoint Energy by 14.3% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 13,870 shares of the utilities provider’s stock worth $380,000 after purchasing an additional 1,730 shares during the period. 76.89% of the stock is owned by hedge funds and other institutional investors.
CenterPoint Energy Company Profile
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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