CenterPoint Energy Inc. [CNP] gain 9.21% so far this year. What now?

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CenterPoint Energy Inc. [NYSE: CNP] price surged by 0.33 percent to reach at $0.1. The company report on May 4, 2022 that CenterPoint Energy receives approval for 335 megawatts of renewable energy to serve southwestern Indiana.

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CenterPoint Energy, Inc. (NYSE: CNP) today announced its Indiana-based electric utility business, CenterPoint Energy Indiana South, received approval from the Indiana Utility Regulatory Commission (IURC) to enter into two power purchase agreements (PPAs) for an additional 335 megawatts (MWs) of solar energy as part of the next component in the company’s long-term electric generation transition plan.

The PPAs consist of 185 MWs of solar power under a 15-year PPA from Oriden, which is developing a solar project in Vermillion County, Ind., and 150 MWs of solar power, under a 20-year PPA from Origis Energy, which is developing a solar project in Knox County, Ind. The 335 MWs from both developments are expected to supply enough power to meet the needs of more than 70,000 homes or 12,000 commercial customers each year.

A sum of 6334859 shares traded at recent session while its average daily volume was at 5.32M shares. CenterPoint Energy Inc. shares reached a high of $31.18 and dropped to a low of $30.00 until finishing in the latest session at $30.48.

The one-year CNP stock forecast points to a potential upside of 8.33. The average equity rating for CNP stock is currently 2.10, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $33.25 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.

Credit Suisse have made an estimate for CenterPoint Energy Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 26, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Overweight. The new note on the price target was released on February 17, 2022, representing the official price target for CenterPoint Energy Inc. stock. Previously, the target price had yet another drop from $31 to $30, while Goldman kept a Neutral rating on CNP stock. On January 10, 2022, analysts increased their price target for CNP shares from 27 to 31.

The Average True Range (ATR) for CenterPoint Energy Inc. is set at 0.74, with the Price to Sales ratio for CNP stock in the period of the last 12 months amounting to 2.25. The Price to Book ratio for the last quarter was 2.09, with the Price to Cash per share for the same quarter was set at 1.33.

CNP Stock Performance Analysis:

CenterPoint Energy Inc. [CNP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.20. With this latest performance, CNP shares dropped by -6.19% in over the last four-week period, additionally plugging by 14.93% over the last 6 months – not to mention a rise of 27.21% 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 44.16, with the RSI for the last a single of trading hit 39.65, and the three-weeks RSI is set at 48.14 for CenterPoint Energy Inc. [CNP]. The present Moving Average for the last 50 days of trading for this stock 30.42, while it was recorded at 30.77 for the last single week of trading, and 27.56 for the last 200 days.

Insight into CenterPoint Energy Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and CenterPoint Energy Inc. [CNP] shares currently have an operating margin of +16.32 and a Gross Margin at +22.64. CenterPoint Energy Inc.’s Net Margin is presently recorded at +8.00.

Return on Equity for this stock inclined to 7.52, with Return on Assets sitting at 1.83.

CenterPoint Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.90.

CNP Stock EPS

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 -0.79%.

CenterPoint Energy Inc. [CNP] Insider Position Details

There are presently around $17,487 million, or 93.90% of CNP stock, in the hands of institutional investors. The top three institutional holders of CNP stocks are: VANGUARD GROUP INC with ownership of 72,003,301, which is approximately 2.549% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 62,536,247 shares of the stock with an approximate value of $1.9 billion in CNP stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $1.39 billion in CNP stock with ownership of nearly 0.003% of the company’s market capitalization.

Positions in CenterPoint Energy Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 297 institutional holders increased their position in CenterPoint Energy Inc. [NYSE:CNP] by around 42,923,869 shares. Additionally, 235 investors decreased positions by around 42,041,510 shares, while 123 investors held positions by with 490,658,827 shares. The mentioned changes placed institutional holdings at 575,624,206 shares, according to the latest SEC report filing. CNP stock had 107 new institutional investments in for a total of 5,504,017 shares, while 45 institutional investors sold positions of 2,302,766 shares during the same period.