CenterPoint Energy, Inc. (NYSE:CNP) saw a significant increase in short interest during the month of September. As of September 28th, there was short interest totalling 25,687,544 shares, an increase of 57.3% from the September 14th total of 16,331,006 shares. Based on an average daily volume of 12,456,879 shares, the days-to-cover ratio is presently 2.1 days. Currently, 6.0% of the shares of the company are short sold.
NYSE CNP opened at $27.55 on Tuesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.95. CenterPoint Energy has a 52-week low of $24.81 and a 52-week high of $30.17. The stock has a market cap of $11.93 billion, a P/E ratio of 20.24, a P/E/G ratio of 2.92 and a beta of 0.44.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Friday, August 3rd. The utilities provider reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.02). CenterPoint Energy had a return on equity of 10.73% and a net margin of 15.43%. The company 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 business earned $0.29 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts predict that CenterPoint Energy will post 1.61 earnings per share for the current fiscal year.
In other CenterPoint Energy news, insider Milton Carroll sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $28.27, for a total transaction of $282,700.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott M. Prochazka sold 4,000 shares of the firm’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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,000 shares of company stock worth $504,820. Corporate insiders own 0.22% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Braun Bostich & Associates Inc. lifted its position in CenterPoint Energy by 1,372.0% in the second quarter. Braun Bostich & Associates Inc. now owns 4,151 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 3,869 shares during the period. Ropes Wealth Advisors LLC acquired a new stake in CenterPoint Energy in the second quarter valued at about $130,000. Signet Financial Management LLC lifted its position in CenterPoint Energy by 649.6% in the second quarter. Signet Financial Management LLC now owns 5,322 shares of the utilities provider’s stock valued at $147,000 after purchasing an additional 4,612 shares during the period. Whittier Trust Co. lifted its position in CenterPoint Energy by 2,745.0% in the second quarter. Whittier Trust Co. now owns 8,535 shares of the utilities provider’s stock valued at $218,000 after purchasing an additional 8,235 shares during the period. Finally, Qube Research & Technologies Ltd lifted its position in CenterPoint Energy by 55.9% in the second quarter. Qube Research & Technologies Ltd now owns 8,042 shares of the utilities provider’s stock valued at $223,000 after purchasing an additional 2,882 shares during the period. 77.39% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on the company. ValuEngine raised CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. JPMorgan Chase & Co. raised their price target on CenterPoint Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, October 9th. Finally, SunTrust Banks reissued a “hold” rating and set a $30.00 price target on shares of CenterPoint Energy in a report on Monday, August 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $29.25.
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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