In the latest trading session, 1.27 million Centerpoint Energy Inc. (NYSE:CNP) shares changed hands as the company’s beta touched 0.93. With the company’s most recent per share price at $27.86 changing hands around $0.63 or 2.33% at last look, the market valuation stands at $17.60B. CNP’s current price is a discount, trading about -12.81% off its 52-week high of $31.43. The share price had its 52-week low at $25.42, which suggests the last value was 8.76% up since then. When we look at Centerpoint Energy Inc.’s average trading volume, we note the 10-day average is 5.08 million shares, with the 3-month average coming to 4.06 million.
Centerpoint Energy Inc. (NYSE:CNP) trade information
Instantly CNP is in green as seen in intraday trades today. With action -0.84%, the performance over the past five days has been red. The jump to weekly highs of 28.29 added 2.33% to the stock’s daily price. The company’s shares are showing year-to-date downside of -2.47%, with the 5-day performance at -0.84% in the red. However, in the 30-day time frame, Centerpoint Energy Inc. (NYSE:CNP) is 0.78% up. Looking at the short shares, we see there were 11.99 million shares sold at short interest cover period of 3.24 days.
Centerpoint Energy Inc. (CNP) estimates and forecasts
Data shows that the Centerpoint Energy Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 2.11% over the past 6 months, a 8.67% in annual growth rate that is considerably higher than the industry average of 6.10%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Centerpoint Energy Inc. will rise 4.00%, while the growth in revenue is estimated to hit 14.30% for the next quarter. Year-over-year growth is forecast to reach 7.10% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $2.65 billion. 5 analysts are of the opinion that Centerpoint Energy Inc.’s revenue for the quarter ending Jun 2024 will be $1.9 billion. The company’s revenue for the corresponding quarters a year ago was $2.78 billion and $1.85 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -4.60%. The estimates for the next quarter sales put growth at 2.80%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 13.22%. The 2024 estimates are for Centerpoint Energy Inc. earnings to increase by 7.84%, but the outlook for the next 5-year period is at 7.70% per year.
CNP Dividends
Centerpoint Energy Inc. is expected to release its next quarterly earnings report between April 25 and April 29. The 2.80% annual yield figure for the share gives it an annual dividend of 0.78. It is important to note, however, that the 2.80% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Centerpoint Energy Inc. (NYSE:CNP)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.34% of Centerpoint Energy Inc. shares while 93.01% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 93.32%. There are 93.01% institutions holding the Centerpoint Energy Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 12.20% of the shares, roughly 77.01 million CNP shares worth $2.24 billion.
Capital International Investors holds the second largest percentage of outstanding shares, with 11.08% or 69.93 million shares worth $2.04 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were American Mutual Fund Inc and American Balanced Fund. With 43.3 million shares estimated at $1.16 billion under it, the former controlled 6.86% of total outstanding shares. On the other hand, American Balanced Fund held about 4.28% of the shares, roughly 27.01 million shares worth around $725.24 million.
