Capital Research & Management Co has recently announced that it has increased stake in CenterPoint Energy Inc. (NYSE:CNP) by 34.10%. After grabbing 73.5 million shares, the institutional investor is now in possession of 18.69 million shares of the Utilities Company. The new investment brought the stake of investor firm to 11.68% having worth around $2.1 billion. Moreover, The Vanguard Group, Inc. increased its share by 0.68 million to have a control over 73.22 million shares. And BlackRock Fund Advisors raised its holdings to 0.2 million shares by acquiring 37.33 million shares or 5.93% of the stake.
CenterPoint Energy Inc. (CNP) concluded trading on 11/23/22 at a closing price of $30.81, with 3.54 million shares of worth about $109.11 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -3.23% during that period and on Wednesday the price saw a gain of about 1.18%. Currently the company’s common shares owned by public are about 630.00M shares, out of which, 628.70M shares are available for trading.
Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $34.00 and could fall to a lowest price of $29.00. The stock’s current price level is 1.47% above of average price target set by the analysts, while a rise to estimated low would result in loss of -6.24% for the stock. However, touching the estimated high of $34.00 would mean a gain of 9.38% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 36 times over the past 12 months. They bought 629,059 shares in 22 of the transactions. In 14 selling transactions, insiders dumped 45,632 shares.
American Mutual Fund, American Balanced Fund, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in CenterPoint Energy Inc. American Mutual Fund is currently holding 39.03 million shares of worth totaling $1.12 billion. The company recently came buying 1.55 million shares which brought its stake up to 6.20% of the company’s outstanding shares. American Balanced Fund bought 15.33 million shares, after which its hold over company’s outstanding shares expand to 3.89%, leaving 24.47 million shares with the mutual fund that have a worth of about $700.06 million. Vanguard Total Stock Market Index, after buying 18.81 million shares, have now control over 2.99% of the stake in the company. It holds 12907.0 shares of worth $538.26 million.
CenterPoint Energy Inc. (NYSE: CNP) started trading at $30.38, below -$0.07 from concluding price of the previous day. However, the stock later moved at a day high price of 30.84, or with a gain of 1.18%. Stock saw a price change of 4.65% in past 5 days and over the past one month there was a price change of 11.43%. Year-to-date (YTD), CNP shares are showing a performance of 10.39% which increased to 15.78% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $25.03 but also hit the highest price of $33.50 during that period. The average intraday trading volume for CenterPoint Energy Inc. shares is 4.33 million. The stock is currently trading 7.04% above its 20-day simple moving average (SMA20), while that difference is up 6.94% for SMA50 and it goes to 2.85% higher than SMA200.
Capital Research & Management Co acquired 73.5 million shares of CenterPoint Energy Inc. having value of about $2.1 billion. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 18.69 million shares in the company valued at close to $575808860.25, or have control over 34.10% stake in the company. CenterPoint Energy Inc. (NYSE: CNP) currently have 630.00M outstanding shares and institutions hold larger chunk of about 93.20% of that. Holding of mutual funds in the company is about 26.85% while other institutional holders and individual stake holders have control over 65.34% and 1.04% of the stake respectively.
The stock has a current market capitalization of $19.08B and its 3Y-monthly beta is at 0.86. PE ratio of stock for trailing 12 months is 21.37, while it has posted earnings per share of $1.44 in the same period. It has Quick Ratio of 0.70 while making debt-to-equity ratio of 1.69. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CNP, volatility over the week remained 1.62% while standing at 2.18% over the month.
Analysts are in expectations that CenterPoint Energy Inc. (CNP) stock would likely to be making an EPS of $0.3 in the current quarter, while forecast for next quarter EPS is $0.31 and it is $1.49 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.24 which is $0.32 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.33 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 62.50% while it is estimated to increase by 7.65% in next year. EPS is likely to grow at an annualized rate of -1.07% for next 5-years, compared to annual growth of -1.20% made by the stock over the past 5-years.
Analysts at 14 brokerage firms have issued recommendations for the CenterPoint Energy Inc. (CNP)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 14 Wall Street analysts, 12 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Credit Suisse on April 26, 2022 offering an Outperform rating for the stock and assigned a target price of $34 to it. Coverage by Morgan Stanley stated CenterPoint Energy Inc. (CNP) stock as an Overweight in their note to investors on February 17, 2022, suggesting a price target of $30 for the stock. On January 13, 2022, Goldman Downgrade their recommendations, while on January 10, 2022, BMO Capital Markets Upgrade their ratings for the stock with a price target of $31. Stock get a Sector perform rating from Scotiabank on December 15, 2021.