Centerpoint Energy Inc. (NYSE:CNP) shares, rose in value, with the stock price down by -0.07% to the previous day’s close as strong demand from buyers drove the stock to $27.87.
Actively observing the price movement in the last trading, the stock closed the session at $27.89. The value of beta (5-year monthly) was 0.93 whereas the PE ratio was 20.34 over 12-month period. Referring to stock’s 52-week performance, its high was $31.43, and the low was $25.42. On the whole, CNP has fluctuated by 1.90% over the past month.
With the market capitalization of Centerpoint Energy Inc. currently standing at about $17.60 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 25, 2024 – Apr 29, 2024. The company’s Forward Dividend Ratio is 0.78, with its dividend yield at 2.80%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.5, which is expected to increase to $0.46 for fiscal year $1.62 and then to about $1.74 by fiscal year 2025. Data indicates that the EPS growth is expected to be 8.00% in 2025, while the next year’s EPS growth is forecast to be 7.40%.
Analysts have estimated the company’s revenue for the quarter at $2.62 billion, with a low estimate of $2.32 billion and a high estimate of $2.91 billion. According to the average forecast, sales growth in current quarter could jump down -5.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $9.34 billion, representing an increase of 7.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CNP’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CNP currently trading nearly -0.16% and -0.48% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 48.58, while the 7-day volatility ratio is showing 1.68% which for the 30-day chart, stands at 1.66%. Furthermore, Centerpoint Energy Inc. (CNP)’s beta value is 0.93, and its average true range (ATR) is 0.48.
A comparison of Centerpoint Energy Inc. (CNP) with its peers suggests the former has fared considerably weaker in the market. CNP showed an intraday change of -0.07% in last session, and over the past year, it shrunk by -4.19%%.
Data on historical trading for Centerpoint Energy Inc. (NYSE:CNP) indicates that the trading volumes over the past 10 days have averaged 4.04 million and over the past 3 months, they’ve averaged 3.91 million. According to company’s latest data on outstanding shares, there are 631.23 million shares outstanding.
Nearly 0.30% of Centerpoint Energy Inc.’s shares belong to company insiders and institutional investors own 92.49% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 11.99 million shares as on Feb 29, 2024, resulting in a short ratio of 3.24. According to the data, the short interest in Centerpoint Energy Inc. (CNP) stood at 1.90% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 12.92 million. The stock has fallen by -2.45% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CNP stock heading into the next quarter.
