CenterPoint Energy Inc. [NYSE: CNP] traded at a high on 07/14/21, posting a 0.36 gain after which it closed the day’ session at $24.77. The company report on June 17, 2021 that CenterPoint Energy proposes next step in Smart Energy Future Plan.
Natural gas combustion turbines to complement expanded renewables portfolio.
CenterPoint Energy (NYSE: CNP) announced the filing of an application with the Indiana Utility Regulatory Commission (IURC) requesting approval to construct two natural gas combustion turbines to replace portions of its existing coal-fired generation fleet. The filing comes as the next component in CenterPoint Energy’s long-term generation transition plan, which seeks to significantly change the way the company generates power and deliver on its commitment to provide a cost-effective, well-balanced energy mix for its 145,000 customers in southwest Indiana.
The results of the trading session contributed to over 3601825 shares changing hands. Over the past one week, the price volatility of CenterPoint Energy Inc. stands at 1.67% while the volatility over the past one month is 1.79%.
The market cap for CNP stock reached $14.26 billion, with 552.00 million shares outstanding. Compared to the average trading volume of 6.18M shares, CNP reached a trading volume of 3601825 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about CenterPoint Energy Inc. [CNP]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNP shares is $27.23 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CNP stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BofA Securities have made an estimate for CenterPoint Energy Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 24, 2021. The new note on the price target was released on February 26, 2021, representing the official price target for CenterPoint Energy Inc. stock. On January 15, 2021, analysts increased their price target for CNP shares from 26 to 27.
The Average True Range (ATR) for CenterPoint Energy Inc. is set at 0.42, with the Price to Sales ratio for CNP stock in the period of the last 12 months amounting to 1.83. The Price to Book ratio for the last quarter was 2.15, with the Price to Cash per share for the same quarter was set at 1.73.
How has CNP stock performed recently?
CenterPoint Energy Inc. [CNP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.96. With this latest performance, CNP shares dropped by -4.66% in over the last four-week period, additionally plugging by 19.66% over the last 6 months – not to mention a rise of 28.48% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CNP stock in for the last two-week period is set at 46.48, with the RSI for the last a single of trading hit 44.14, and the three-weeks RSI is set at 48.81 for CenterPoint Energy Inc. [CNP]. The present Moving Average for the last 50 days of trading for this stock 24.96, while it was recorded at 25.08 for the last single week of trading, and 22.74 for the last 200 days.
CenterPoint Energy Inc. [CNP]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and CenterPoint Energy Inc. [CNP] shares currently have an operating margin of +16.50 and a Gross Margin at +23.46. CenterPoint Energy Inc.’s Net Margin is presently recorded at -7.97.
Return on Total Capital for CNP is now 5.29, given the latest momentum, and Return on Invested Capital for the company is -2.78. Return on Equity for this stock declined to -7.07, with Return on Assets sitting at -1.67. When it comes to the capital structure of this company, CenterPoint Energy Inc. [CNP] has a Total Debt to Total Equity ratio set at 172.80. Additionally, CNP Total Debt to Total Capital is recorded at 63.34, with Total Debt to Total Assets ending up at 41.96. Long-Term Debt to Equity for the company is recorded at 192.93, with the Long-Term Debt to Total Capital now at 50.70.
Reflecting on the efficiency of the workforce at the company, CenterPoint Energy Inc. [CNP] managed to generate an average of -$45,518 per employee. Receivables Turnover for the company is 4.63 with a Total Asset Turnover recorded at a value of 0.21.CenterPoint Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.
Earnings analysis for CenterPoint Energy Inc. [CNP]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CNP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CenterPoint Energy Inc. go to 4.61%.
Insider trade positions for CenterPoint Energy Inc. [CNP]
There are presently around $13,040 million, or 92.70% of CNP stock, in the hands of institutional investors. The top three institutional holders of CNP stocks are: VANGUARD GROUP INC with ownership of 66,001,207, which is approximately 1.678% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 44,652,269 shares of the stock with an approximate value of $1.11 billion in CNP stocks shares; and FMR LLC, currently with $847.47 million in CNP stock with ownership of nearly 8.92% of the company’s market capitalization.
Positions in CenterPoint Energy Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 260 institutional holders increased their position in CenterPoint Energy Inc. [NYSE:CNP] by around 41,883,261 shares. Additionally, 257 investors decreased positions by around 32,200,733 shares, while 94 investors held positions by with 452,363,163 shares. The mentioned changes placed institutional holdings at 526,447,157 shares, according to the latest SEC report filing. CNP stock had 68 new institutional investments in for a total of 8,416,550 shares, while 80 institutional investors sold positions of 6,830,175 shares during the same period.