Short Interest in CenterPoint Energy, Inc. (CNP) Declines By 17.3%
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.
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.
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.
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