Centerpoint Energy Inc. (CNP) saw an increase in traded shares during the last session, reaching 3.41 million shares. The company’s beta value is 0.91. The stock price closed at $27.75, reflecting a 1.02% increase or $0.28 in intraday trading. Although the stock is currently -13.59% down from its 52-week high of $31.52, it has still shown impressive growth of 9.8% since reaching its 52-week low of $25.03. With a valuation of $17.52 billion, the stock has an average trading volume of 4.68 million shares over the past 10 days.
Analysts have given Centerpoint Energy Inc. (CNP) a consensus recommendation of Overweight, with a mean rating of 2.00. Of the 17 analysts looking at the stock, 1 analyst rates it as a Sell, 1 rates it as Overweight, 5 advise to Hold, and 10 recommend it as a Buy. The company is estimated to have earnings per share of $0.36 for the current quarter.
Centerpoint Energy Inc. (CNP) Stock Performance
In the past five days, Centerpoint Energy Inc. (CNP) has experienced a decline, despite registering a 1.02% upside in the last session. The stock reached a weekly high of $27.77 on October 11, 2023, with an intraday price action increase of 1.02%. Over the past five days, the stock’s price performance is at 4.56%, and it has shown a decline of -1.94% over 30 days. Year-to-date, the stock’s price performance is -7.47%. Short interest in Centerpoint Energy Inc. is at 12.5 million shares, with a 2.92 days time to cover.
Wall Street analysts suggest a consensus price target of $31.60, indicating a potential increase of 12.18% from the current value. The target low price is $28.00, and the target high price is $34.00. Currently, the stock is -22.52% off the suggested target high and -0.9% from its likely low.
Centerpoint Energy Inc. (CNP) Outlook and Forecasts
Comparing Centerpoint Energy Inc.’s share performance against its industry, the company has outperformed its competitors. The stock is down -9.52% over the last 6 months, with a year-to-date growth rate of 7.97% compared to the industry average of 3.30%. Revenue is forecasted to grow by 12.50% in the current quarter and jump by 25.00% in the next quarter. Analysts estimate the current quarter’s revenue to be $2.17 billion and expect it to increase to $2.63 billion for the quarter ending in December 2023.
Looking at the company’s 5-year growth patterns, annual earnings have declined by an estimated -17.32% over the past 5 years. However, projections for 2023 show an expected 8.08% return in earnings, while the next 5 years are estimated to have a -1.07% annual growth rate.
Centerpoint Energy Inc. (CNP) Dividends and Major Holders
Centerpoint Energy Inc. has its next earnings report scheduled for October 26. Investors should not solely rely on the dividend yield ratio, as it is just an indicator and other fundamental and operational aspects of the company should also be considered. Currently, Centerpoint Energy Inc. has a forward dividend ratio of 0.75, with a share yield of 2.71%.
Insiders hold 0.17% of total outstanding shares, while institutional holders own 92.36% of shares with a float percentage of 92.52%. Vanguard Group Inc. holds the largest number of shares among institutional holders, with over 77.01 million shares (12.20% of shares), valued at approximately $2.24 billion as of June 29, 2023. Capital International Investors is the next major institution holding the largest number of shares, with 69.93 million shares (11.08% of shares outstanding), worth $2.04 billion.
American Mutual Fund Inc. and American Balanced Fund are the top two Mutual Funds with the largest holdings of Centerpoint Energy Inc. shares. American Mutual Fund Inc. holds approximately 41.94 million shares (6.65% of total shares), valued at $1.26 billion. American Balanced Fund holds a slightly lower amount of shares at 25.57 million (4.05% of shares), worth approximately $745.34 million.
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