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

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

CNP has been the topic of several research reports. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. ValuEngine downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Wells Fargo & Co reaffirmed a “buy” rating on shares of CenterPoint Energy in a report on Thursday, February 28th. Royal Bank of Canada raised CenterPoint Energy from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $29.00 to $34.00 in a report on Friday, January 18th. Finally, Guggenheim raised CenterPoint Energy from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. CenterPoint Energy has a consensus rating of “Buy” and a consensus target price of $31.60.

Shares of CenterPoint Energy stock opened at $30.50 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 2.01 and a debt-to-equity ratio of 1.37. The stock has a market cap of $15.38 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 3.53 and a beta of 0.46. CenterPoint Energy has a 1-year low of $24.81 and a 1-year high of $31.42.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Thursday, February 28th. The utilities provider reported $0.36 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. CenterPoint Energy had a net margin of 3.48% and a return on equity of 14.16%. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the firm earned $0.33 earnings per share. As a group, equities analysts anticipate that CenterPoint Energy will post 1.64 EPS for the current year.

In related news, insider Milton Carroll sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $30.21, for a total value of $2,265,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Joseph John Vortherms sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $30.10, for a total value of $60,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 132,000 shares of company stock valued at $3,983,610. Insiders own 0.24% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp increased its position in shares of CenterPoint Energy by 54.0% during the third quarter. Mackenzie Financial Corp now owns 21,429 shares of the utilities provider’s stock worth $593,000 after acquiring an additional 7,513 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of CenterPoint Energy by 16.5% during the 4th quarter. Legal & General Group Plc now owns 3,962,991 shares of the utilities provider’s stock worth $111,840,000 after buying an additional 559,932 shares during the last quarter. Rehmann Capital Advisory Group lifted its stake in shares of CenterPoint Energy by 2,773.0% during the 3rd quarter. Rehmann Capital Advisory Group now owns 60,332 shares of the utilities provider’s stock worth $2,182,000 after buying an additional 58,232 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of CenterPoint Energy by 4.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 344,498 shares of the utilities provider’s stock worth $9,725,000 after buying an additional 13,560 shares during the last quarter. Finally, Advisor Partners LLC raised its stake in CenterPoint Energy by 10.3% in the 4th quarter. Advisor Partners LLC now owns 10,319 shares of the utilities provider’s stock worth $291,000 after purchasing an additional 962 shares in the last quarter. Institutional investors own 81.37% of the company’s stock.

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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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