CenterPoint Energy (CNP) Shares Gap Down to $27.82

CenterPoint Energy, Inc. (NYSE:CNP) gapped down prior to trading on Tuesday . The stock had previously closed at $28.38, but opened at $27.82. CenterPoint Energy shares last traded at $27.65, with a volume of 11370000 shares changing hands.

A number of equities research analysts have weighed in on CNP shares. Zacks Investment Research raised shares of CenterPoint Energy from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Tuesday, June 12th. JPMorgan Chase & Co. raised shares of CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 price objective for the company in a research note on Wednesday, September 5th. ValuEngine lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $30.00 price objective on shares of CenterPoint Energy in a research note on Monday, August 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $28.86.

The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.95. The company has a market cap of $12.10 billion, a P/E ratio of 19.80, a PEG ratio of 3.09 and a beta of 0.45.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Friday, August 3rd. The utilities provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). CenterPoint Energy had a net margin of 15.43% and a return on equity of 10.73%. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the company posted $0.29 earnings per share. CenterPoint Energy’s quarterly revenue was up 2.0% compared to the same quarter last year. sell-side analysts predict that CenterPoint Energy, Inc. will post 1.61 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 13th. Shareholders of record on Thursday, August 16th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date was Wednesday, August 15th. CenterPoint Energy’s dividend payout ratio is presently 81.02%.

In other news, CEO Scott M. Prochazka sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $27.99, for a total value of $111,960.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Milton Carroll sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $28.27, for a total value of $282,700.00. The disclosure for this sale can be found here. Insiders have sold 18,000 shares of company stock valued at $504,940 over the last ninety days. Insiders own 0.22% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Bridgewater Associates LP increased its holdings in shares of CenterPoint Energy by 54.6% in the 2nd quarter. Bridgewater Associates LP now owns 256,768 shares of the utilities provider’s stock valued at $7,115,000 after purchasing an additional 90,653 shares during the period. Korea Investment CORP increased its holdings in shares of CenterPoint Energy by 289.0% in the 2nd quarter. Korea Investment CORP now owns 398,011 shares of the utilities provider’s stock valued at $11,029,000 after purchasing an additional 295,700 shares during the period. CSat Investment Advisory L.P. acquired a new position in shares of CenterPoint Energy in the 2nd quarter valued at about $1,727,000. Conning Inc. increased its holdings in CenterPoint Energy by 54.1% in the second quarter. Conning Inc. now owns 16,365 shares of the utilities provider’s stock worth $453,000 after buying an additional 5,743 shares during the last quarter. Finally, Voya Investment Management LLC increased its holdings in CenterPoint Energy by 29.9% in the second quarter. Voya Investment Management LLC now owns 1,142,113 shares of the utilities provider’s stock worth $31,648,000 after buying an additional 262,940 shares during the last quarter. Institutional investors own 77.26% of the company’s stock.

CenterPoint Energy Company Profile (NYSE:CNP)

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.

See Also: What is the NASDAQ?

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.

Leave a Reply