Capital Research & Management Co has recently announced that it has increased stake in Centerpoint Energy Inc. (NYSE:CNP) by 18.53%. After grabbing 82.89 million shares, the institutional investor is now in possession of 12.96 million shares of the Utilities Company. The new investment brought the stake of investor firm to 13.13% having worth around $2.34 billion. Moreover, T. Rowe Price Investment Manageme increased its share by 5.97 million to have a control over 16.88 million shares. And Geode Capital Management LLC raised its holdings to 0.23 million shares by acquiring 13.52 million shares or 2.14% of the stake.
Centerpoint Energy Inc. (CNP) concluded trading on December 20, 2023 at a closing price of $28.30, with 4.38 million shares of worth about $123.86 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -2.78% during that period and On Wednesday the price saw a loss of about -2.31%. Currently the company’s common shares owned by public are about 629.54M shares, out of which, 629.49M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 49 times over the past 12 months. They bought 1,652,054 shares in 31 of the transactions. In 18 selling transactions, insiders dumped 819,367 shares.
American Mutual Fund, American Balanced Fund, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Centerpoint Energy Inc. American Mutual Fund is currently holding 43.3 million shares of worth totaling $1.22 billion. The company recently came buying 1.36 million shares which brought its stake up to 6.86% of the company’s outstanding shares. American Balanced Fund bought 1.44 million shares, after which its hold over company’s outstanding shares expand to 4.28%, leaving 27.01 million shares with the mutual fund that have a worth of about $763.6 million. Vanguard Total Stock Market ETF, after buying 19.69 million shares, have now control over 3.12% of the stake in the company. It holds 31583.0 shares of worth $556.75 million.
However, the stock later moved at a day high price of 28.98, or with a loss of -2.31%. Stock saw a price change of -6.29% in past 5 days and over the past one month there was a price change of 2.57%. Year-to-date (YTD), CNP shares are showing a performance of -5.64% which decreased to -5.60% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $25.42 but also hit the highest price of $31.47 during that period. The average intraday trading volume for Centerpoint Energy Inc. shares is 4.82 million. The stock is currently trading -1.15% below its 20-day simple moving average (SMA20), while that difference is up 1.59% for SMA50 and it goes to -1.50% lower than SMA200.
Capital Research & Management Co acquired 82.89 million shares of Centerpoint Energy Inc. having value of about $2.34 billion. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 12.96 million shares in the company valued at close to $366802243.0, or have control over 18.53% stake in the company. Centerpoint Energy Inc. (NYSE: CNP) currently have 629.54M outstanding shares and institutions hold larger chunk of about 91.52% of that. Holding of mutual funds in the company is about 28.06% while other institutional holders and individual stake holders have control over 64.28% and 1.03% of the stake respectively.
The stock has a current market capitalization of $17.86B and its 3Y-monthly beta is at 0.95. PE ratio of stock for trailing 12 months is 22.46, while it has posted earnings per share of $1.26 in the same period. It has Quick Ratio of 0.57 while making debt-to-equity ratio of 1.97. 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 2.14% while standing at 1.86% over the month.
Analysts are in expectations that Centerpoint Energy Inc. (CNP) stock would likely to be making an EPS of $0.33 in the current quarter, while forecast for next quarter EPS is $0.52 and it is $1.62 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.31 which is $0.36 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 $0.28 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 8.71% while it is estimated to increase by 7.95% in next year. EPS is likely to grow at an annualized rate of -1.07% for next 5-years, compared to annual growth of -17.32% made by the stock over the past 5-years.
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 KeyBanc Capital Markets on October 05, 2023 offering an Overweight rating for the stock and assigned a target price of $29 to it.
