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CenterPoint Energy Inc. (NYSE: CNP) Stock: Will It Keep Climbing Higher?

In the last trading session, 5.39 million shares of the CenterPoint Energy Inc. (NYSE:CNP) were traded, and its beta was 0.89. Most recently the company’s share price was $28.86, and it changed around $0.31 or 1.09% from the last close, which brings the market valuation of the company to $18.12B. CNP currently trades at a discount to its 52-week high of $33.50, offering almost -16.08% off that amount. The share price’s 52-week low was $25.03, which indicates that the current value has risen by an impressive 13.27% since then. We note from CenterPoint Energy Inc.’s average daily trading volume that its 10-day average is 4.8 million shares, with the 3-month average coming to 3.91 million.

CenterPoint Energy Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.10. If we narrow it down even further, the data shows that 0 out of 16 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 5 recommended CNP as a Hold, whereas 11 deemed it a Buy, and 0 rated it as Underweight. CenterPoint Energy Inc. is expected to report earnings per share of $0.29 for the current quarter.

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CenterPoint Energy Inc. (NYSE:CNP) trade information

Instantly CNP has showed a green trend with a performance of 1.09% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 28.94 on Tuesday, 05/23/23 increased the stock’s daily price by 0.28%. The company’s shares are currently down -3.77% year-to-date, but still down -0.28% over the last five days. On the other hand, CenterPoint Energy Inc. (NYSE:CNP) is -6.33% down in the 30-day period. We can see from the shorts that 8.23 million shares have been sold at a short interest cover period of 2.78 day(s).

The consensus price target as assigned by Wall Street analysts is $32.54, which translates to bulls needing to increase their stock price by 11.31% from its current value. Analyst projections state that CNP is forecast to be at a low of $30.00 and a high of $35.00. In order for the stock price to hit the forecast high, the stock would need to plunge -21.28% from its current level, while the stock would need to crash -3.95% from its current level to reach the projected low.

CenterPoint Energy Inc. (CNP) estimates and forecasts

CenterPoint Energy Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -2.73 percent over the past six months and at a 7.97% annual growth rate that is well above the industry average of 1.90%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -6.50% in revenue this quarter, and will report an increase of 9.40% in the next quarter. The year-over-year growth rate is expected to be -2.20%, down from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $1.86 billion in revenue for the current quarter. 2 analysts expect CenterPoint Energy Inc. to make $1.86 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $1.94 billion and $1.78 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -4.40%. Forecasts for the next quarter put sales growth at 4.50%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 0.40%. CenterPoint Energy Inc. earnings are expected to increase by 69.80% in 2023, but the outlook is negative -1.07% per year for the next five years.

CNP Dividends

CenterPoint Energy Inc.’s next quarterly earnings report is expected to be released around July 31 and August 04. The annual dividend yield of the stock is 2.63 percent and its annual dividend per share was 0.76. It is important to note, however, that the 2.63% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

CenterPoint Energy Inc. (NYSE:CNP)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.17% of CenterPoint Energy Inc. shares, and 92.77% of them are in the hands of institutional investors. The stock currently has a share float of 92.94%. CenterPoint Energy Inc. stock is held by 899 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 12.24% of the shares, which is about 77.23 million shares worth $2.28 billion.

Capital International Investors, with 11.00% or 69.4 million shares worth $2.04 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

American Mutual Fund Inc and American Balanced Fund were the top two Mutual Funds as of Mar 30, 2023. The former held 42.14 million shares worth $1.24 billion, making up 6.68% of all outstanding shares. On the other hand, American Balanced Fund held roughly 25.47 million shares worth around $750.32 million, which represents about 4.04% of the total shares outstanding.

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