CenterPoint Energy, Inc. (NYSE:CNP) was the target of a large decline in short interest during the month of March. As of March 29th, there was short interest totalling 15,487,474 shares, a decline of 17.3% from the March 15th total of 18,731,752 shares. Approximately 3.1% of the company’s stock are short sold. Based on an average daily volume of 3,621,742 shares, the short-interest ratio is presently 4.3 days.

NYSE:CNP opened at $30.50 on Tuesday. The firm has a market cap of $15.38 billion, a P/E ratio of 19.06, a P/E/G ratio of 3.53 and a beta of 0.46. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.01 and a current ratio of 2.13. CenterPoint Energy has a fifty-two week low of $24.81 and a fifty-two week high of $31.42.

CenterPoint Energy (NYSE:CNP) last posted its earnings results on Thursday, February 28th. The utilities provider reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.66 billion. CenterPoint Energy had a return on equity of 14.16% and a net margin of 3.48%. During the same period last year, the company earned $0.33 earnings per share. Sell-side analysts forecast that CenterPoint Energy will post 1.64 EPS for the current year.

In other news, insider Milton Carroll sold 75,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $30.21, for a total transaction of $2,265,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph John Vortherms sold 2,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $30.10, for a total transaction of $60,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 132,000 shares of company stock valued at $3,983,610. 0.24% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of CNP. Kaizen Advisory LLC boosted its position in shares of CenterPoint Energy by 33.4% during the 4th quarter. Kaizen Advisory LLC now owns 1,350 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 338 shares in the last quarter. IBM Retirement Fund grew its holdings in shares of CenterPoint Energy by 5.1% in the 4th quarter. IBM Retirement Fund now owns 7,660 shares of the utilities provider’s stock worth $216,000 after acquiring an additional 375 shares during the period. HL Financial Services LLC grew its holdings in shares of CenterPoint Energy by 5.4% in the 4th quarter. HL Financial Services LLC now owns 7,853 shares of the utilities provider’s stock worth $222,000 after acquiring an additional 400 shares during the period. Gs Investments Inc. grew its holdings in CenterPoint Energy by 2.2% during the 4th quarter. Gs Investments Inc. now owns 22,375 shares of the utilities provider’s stock valued at $632,000 after buying an additional 475 shares during the last quarter. Finally, Ropes Wealth Advisors LLC grew its holdings in CenterPoint Energy by 8.1% during the 1st quarter. Ropes Wealth Advisors LLC now owns 6,565 shares of the utilities provider’s stock valued at $202,000 after buying an additional 490 shares during the last quarter. Institutional investors own 81.37% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. Credit Suisse Group set a $32.00 price objective on shares of CenterPoint Energy and gave the stock a “buy” rating in a research report on Friday, March 1st. ValuEngine lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Wells Fargo & Co restated a “buy” rating on shares of CenterPoint Energy in a research report on Thursday, February 28th. Goldman Sachs Group started coverage on shares of CenterPoint Energy in a research report on Monday, February 25th. They set a “buy” rating and a $34.00 target price on the stock. Finally, Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. CenterPoint Energy has a consensus rating of “Buy” and a consensus price target of $31.60.

COPYRIGHT VIOLATION NOTICE: This story was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another site, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this story can be read at https://www.thecerbatgem.com/2019/04/16/short-interest-in-centerpoint-energy-inc-cnp-declines-by-17-3.html.

About CenterPoint Energy

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.

Featured Story: Current Ratio

Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.