CenterPoint Energy Target of Unusually Large Options Trading (CNP)
CenterPoint Energy, Inc. (NYSE:CNP) was the target of unusually large options trading on Wednesday. Stock traders bought 10,408 put options on the stock. This represents an increase of approximately 1,817% compared to the typical volume of 543 put options.
CenterPoint Energy (CNP) opened at 30.01 on Friday. The firm has a 50-day moving average price of $29.00 and a 200 day moving average price of $28.13. CenterPoint Energy has a 52-week low of $21.83 and a 52-week high of $30.11. The stock has a market cap of $12.94 billion, a PE ratio of 21.44 and a beta of 0.63.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.07. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm posted $0.17 EPS. The firm’s quarterly revenue was up 36.1% on a year-over-year basis. Equities analysts anticipate that CenterPoint Energy will post $1.34 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Wednesday, August 16th were given a dividend of $0.2675 per share. The ex-dividend date was Monday, August 14th. This represents a $1.07 dividend on an annualized basis and a yield of 3.57%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 76.98%.
CNP has been the subject of several analyst reports. Zacks Investment Research upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Friday, June 16th. BidaskClub upgraded CenterPoint Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Credit Suisse Group upgraded CenterPoint Energy from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $28.82 to $29.00 in a research note on Monday, August 14th. Finally, J P Morgan Chase & Co initiated coverage on CenterPoint Energy in a research note on Thursday, June 29th. They set a “neutral” rating and a $29.00 price target for the company. Nine research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. CenterPoint Energy presently has an average rating of “Hold” and a consensus price target of $27.78.
In other news, CEO Scott M. Prochazka sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $28.23, for a total transaction of $28,230.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 3,000 shares of company stock valued at $85,500 in the last 90 days. Company insiders own 0.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in CenterPoint Energy by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 49,060,465 shares of the utilities provider’s stock worth $1,343,275,000 after acquiring an additional 1,767,259 shares during the period. BlackRock Inc. boosted its position in CenterPoint Energy by 1,521.6% during the 1st quarter. BlackRock Inc. now owns 39,034,890 shares of the utilities provider’s stock worth $1,076,193,000 after acquiring an additional 36,627,665 shares during the period. State Street Corp boosted its position in CenterPoint Energy by 3.6% during the 1st quarter. State Street Corp now owns 23,857,898 shares of the utilities provider’s stock worth $657,763,000 after acquiring an additional 818,887 shares during the period. Ameriprise Financial Inc. boosted its position in CenterPoint Energy by 1.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,938,544 shares of the utilities provider’s stock worth $244,648,000 after acquiring an additional 164,857 shares during the period. Finally, FMR LLC boosted its position in CenterPoint Energy by 1.2% during the 2nd quarter. FMR LLC now owns 8,841,881 shares of the utilities provider’s stock worth $242,091,000 after acquiring an additional 108,431 shares during the period. Institutional investors own 76.89% of the company’s stock.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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