CenterPoint Energy, Inc. (NYSE:CNP) Short Interest Up 5.5% in May

CenterPoint Energy, Inc. (NYSE:CNPGet Free Report) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 12,760,000 shares, an increase of 5.5% from the May 15th total of 12,100,000 shares. Based on an average daily volume of 4,720,000 shares, the short-interest ratio is presently 2.7 days.

Analyst Ratings Changes

Several research firms recently weighed in on CNP. Mizuho reissued a “neutral” rating and issued a $29.00 target price (down from $30.00) on shares of CenterPoint Energy in a research note on Wednesday, February 21st. KeyCorp lifted their target price on shares of CenterPoint Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Barclays boosted their price target on CenterPoint Energy from $28.00 to $29.00 and gave the company an “underweight” rating in a research note on Thursday, March 14th. Guggenheim lowered their price objective on CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Finally, Scotiabank reduced their target price on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, CenterPoint Energy has an average rating of “Hold” and an average target price of $30.80.

Read Our Latest Report on CNP

CenterPoint Energy Price Performance

Shares of CenterPoint Energy stock traded up $0.28 on Tuesday, reaching $30.97. 2,321,210 shares of the stock were exchanged, compared to its average volume of 4,463,177. The firm’s 50 day moving average is $29.46 and its 200-day moving average is $28.66. The firm has a market cap of $19.81 billion, a PE ratio of 21.71, a P/E/G ratio of 2.72 and a beta of 0.91. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.25. CenterPoint Energy has a one year low of $25.42 and a one year high of $31.43.

CenterPoint Energy (NYSE:CNPGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.82 billion. CenterPoint Energy had a return on equity of 10.57% and a net margin of 11.03%. During the same period last year, the firm posted $0.50 earnings per share. As a group, analysts anticipate that CenterPoint Energy will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th were given a $0.20 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 2.58%. CenterPoint Energy’s dividend payout ratio is currently 56.34%.

Insider Buying and Selling

In other news, Director Barry T. Smitherman sold 5,670 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $29.42, for a total value of $166,811.40. Following the sale, the director now owns 21,203 shares of the company’s stock, valued at $623,792.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new position in CenterPoint Energy during the 4th quarter worth about $94,750,000. Price T Rowe Associates Inc. MD lifted its stake in shares of CenterPoint Energy by 38.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,602,621 shares of the utilities provider’s stock valued at $302,070,000 after purchasing an additional 2,961,464 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of CenterPoint Energy by 96.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,958,562 shares of the utilities provider’s stock valued at $141,666,000 after purchasing an additional 2,428,640 shares in the last quarter. Reaves W H & Co. Inc. grew its stake in CenterPoint Energy by 391.0% during the fourth quarter. Reaves W H & Co. Inc. now owns 2,314,797 shares of the utilities provider’s stock worth $66,134,000 after purchasing an additional 1,843,333 shares during the period. Finally, Cohen & Steers Inc. increased its holdings in CenterPoint Energy by 24.5% in the fourth quarter. Cohen & Steers Inc. now owns 8,030,646 shares of the utilities provider’s stock worth $229,436,000 after purchasing an additional 1,578,948 shares in the last quarter. 91.77% of the stock is currently owned by institutional investors and hedge funds.

About CenterPoint Energy

(Get Free Report)

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. 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.

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