In last trading session, Centerpoint Energy Inc. (NYSE:CNP) saw 4.07 million shares changing hands with its beta currently measuring 0.93. Company’s recent per share price level of $27.83 trading at -$0.16 or -0.57% at ring of the bell on the day assigns it a market valuation of $17.58B. That closing price of CNP’s stock is at a discount of -12.94% from its 52-week high price of $31.43 and is indicating a premium of 8.66% from its 52-week low price of $25.42. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 4.75 million shares which gives us an average trading volume of 3.97 million if we extend that period to 3-months.
Centerpoint Energy Inc. (NYSE:CNP) trade information
Upright in the red during last session for losing -0.57%, in the last five days CNP remained trading in the red while hitting it’s week-highest on Thursday, 03/21/24 when the stock touched $27.83 price level, adding 1.63% to its value on the day. Centerpoint Energy Inc.’s shares saw a change of -2.59% in year-to-date performance and have moved -0.14% in past 5-day. Centerpoint Energy Inc. (NYSE:CNP) showed a performance of -0.14% in past 30-days. Number of shares sold short was 11.99 million shares which calculate 3.24 days to cover the short interests.
Centerpoint Energy Inc. (CNP) estimates and forecasts
Statistics highlight that Centerpoint Energy Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -1.97% of value to its shares in past 6 months, showing an annual growth rate of 8.67% while that of industry is 6.20. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 4.00% in the current quarter and calculating 14.30% increase in the next quarter. This year revenue growth is estimated to rise 7.10% from the last financial year’s standing.
5 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $2.65 billion for the same. And 5 analysts are in estimates of company making revenue of $1.9 billion in the next quarter that will end on Jun 2024. Company posted $2.78 billion and $1.85 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -4.60% while estimating it to be 2.80% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 13.22% during past 5 years. In 2024, company’s earnings growth rate is likely to be around 7.84% while estimates for its earnings growth in next 5 years are of 7.70%.
CNP Dividends
Centerpoint Energy Inc. is more likely to be releasing its next quarterly report between April 25 and April 29 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Centerpoint Energy Inc. (NYSE:CNP)’s Major holders
Insiders are in possession of 0.34% of company’s total shares while institution are holding 92.99 percent of that, with stock having share float percentage of 93.31%. Investors also watch the number of corporate investors in a company very closely, which is 92.99% institutions for Centerpoint Energy Inc. that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at CNP for having 77.01 million shares of worth $2.24 billion. And as of Jun 29, 2023, it was holding 12.20% of the company’s outstanding shares.
The second largest institutional holder is Capital International Investors, which was holding about 69.93 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 11.08% of outstanding shares, having a total worth of $2.04 billion.
On the other hand, American Mutual Fund Inc and American Balanced Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2023, the former fund manager was holding 43.3 million shares of worth $1.16 billion or 6.86% of the total outstanding shares. The later fund manager was in possession of 27.01 million shares on Sep 29, 2023, making its stake of worth around $725.24 million in the company or a holder of 4.28% of company’s stock.
