Capital Research & Management Co recently announced the acquisition of new stake in Centerpoint Energy Inc. (NYSE:CNP). The institutional investor has increased its shareholding in the Utilities company by 18.53% to 82.89 million shares with purchase of 12.96 million shares. This fresh investment now brings its stake to 13.13% valued currently at $2.37 billion. In addition, T. Rowe Price Investment Manageme raised its holdings by 5.97 million to 16.88 million shares. And Geode Capital Management LLC has lifted its position by 1.76% or 0.23 million shares – to 13.52 million shares.
Currently, there are 631.22M common shares owned by the public and among those 629.67M shares have been available to trade.
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Insiders at the company have transacted a total of 46 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 1,606,494 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 621,307 shares.
The top 3 mutual fund holders in Centerpoint Energy Inc. are American Mutual Fund, American Balanced Fund, and Vanguard Total Stock Market ETF. American Mutual Fund owns 43.29 million shares of the company’s stock, all valued at over $1.24 billion. The company sold 12835.0 shares recently to bring their total holdings to about 6.86% of the shares outstanding. American Balanced Fund sold -1.03 million shares to see its total holdings shrink to 25.99 million shares valued at over $742.41 million and representing 4.12% of the shares outstanding. Vanguard Total Stock Market ETF bought 16360.0 shares to bring its total holdings to over 19.73 million shares at a value of $563.8 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.13% of the shares outstanding.
However, the script later moved the day high at 27.51, up 0.11%. The company’s stock has a 5-day price change of -3.61% and 1.33% over the past three months. CNP shares are trading -3.75% year to date (YTD), with the 12-month market performance down to -8.67% lower. It has a 12-month low price of $25.42 and touched a high of $31.43 over the same period. CNP has an average intraday trading volume of 4.38 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.77%, -3.04%, and -4.28% respectively.
Institutional ownership of Centerpoint Energy Inc. (NYSE: CNP) shares accounts for 91.51% of the company’s 631.22M shares outstanding. Mutual fund holders own 27.54%, while other institutional holders and individual stakeholders account for 64.85% and 0.99% respectively.
It has a market capitalization of $17.36B and a beta (3y monthly) value of 0.94. The stock’s trailing 12-month PE ratio is 21.82, while the earnings-per-share (ttm) stands at $1.26. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.78% over the week and 1.44% over the month.
Analysts forecast that Centerpoint Energy Inc. (CNP) will achieve an EPS of $0.32 for the current quarter, $0.52 for the next quarter and $1.62 for 2024. The lowest estimate earnings-per-share for the quarter is $0.31 while analysts give the company a high EPS estimate of $0.36. Comparatively, EPS for the current quarter was $0.28 a year ago. Earnings per share for the fiscal year are expected to increase by 8.68%, and 8.06% over the next financial year. EPS should grow at an annualized rate of -1.07% over the next five years, compared to -17.32% over the past 5-year period.
Looking at the support for the CNP, a number of firms have released research notes about the stock. Evercore ISI stated their In-line rating for the stock in a research note on Jan-24-24, with the firm’s price target at $29-$30.
