Short Interest in CenterPoint Energy, Inc. (NYSE:CNP) Rises By 18.7%

CenterPoint Energy, Inc. (NYSE:CNPGet Free Report) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 13,290,000 shares, a growth of 18.7% from the August 15th total of 11,200,000 shares. Based on an average daily trading volume, of 3,750,000 shares, the days-to-cover ratio is currently 3.5 days.

Analysts Set New Price Targets

Several analysts have recently issued reports on CNP shares. Morgan Stanley reduced their price target on shares of CenterPoint Energy from $30.00 to $29.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 23rd. Mizuho lowered CenterPoint Energy from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a research report on Friday, July 28th. JPMorgan Chase & Co. lifted their target price on CenterPoint Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, August 17th. UBS Group downgraded CenterPoint Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $33.00 to $30.00 in a report on Tuesday, June 6th. They noted that the move was a valuation call. Finally, StockNews.com initiated coverage on CenterPoint Energy in a research note on Thursday, August 17th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.10.

Get Our Latest Stock Analysis on CNP

CenterPoint Energy Trading Up 0.3 %

NYSE CNP opened at $29.08 on Friday. The firm’s fifty day moving average price is $29.00 and its 200 day moving average price is $29.17. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.88 and a quick ratio of 0.65. CenterPoint Energy has a 12 month low of $25.03 and a 12 month high of $33.50. The company has a market capitalization of $18.35 billion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 2.55 and a beta of 0.89.

CenterPoint Energy (NYSE:CNPGet Free Report) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.92 billion. CenterPoint Energy had a net margin of 8.28% and a return on equity of 9.71%. During the same period last year, the firm posted $0.31 earnings per share. On average, sell-side analysts expect that CenterPoint Energy will post 1.49 earnings per share for the current fiscal year.

CenterPoint Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 17th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Wednesday, August 16th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 66.09%.

Hedge Funds Weigh In On CenterPoint Energy

Several institutional investors have recently bought and sold shares of CNP. Invesco Ltd. lifted its position in CenterPoint Energy by 68.2% in the first quarter. Invesco Ltd. now owns 7,638,179 shares of the utilities provider’s stock valued at $234,036,000 after purchasing an additional 3,096,455 shares during the period. State Street Corp lifted its holdings in shares of CenterPoint Energy by 10.0% in the 1st quarter. State Street Corp now owns 33,279,592 shares of the utilities provider’s stock valued at $1,019,687,000 after buying an additional 3,035,409 shares during the period. Norges Bank purchased a new stake in shares of CenterPoint Energy in the fourth quarter valued at approximately $88,736,000. Deutsche Bank AG grew its holdings in CenterPoint Energy by 10.7% during the fourth quarter. Deutsche Bank AG now owns 22,564,998 shares of the utilities provider’s stock worth $676,724,000 after acquiring an additional 2,179,250 shares during the period. Finally, ClearBridge Investments Ltd purchased a new position in CenterPoint Energy in the first quarter worth $59,799,000. 88.96% of the stock is owned by institutional investors and hedge funds.

CenterPoint Energy Company Profile

(Get Free Report)

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