CenterPoint Energy Sees Unusually Large Options Volume (CNP)

CenterPoint Energy, Inc. (NYSE:CNP) was the recipient of unusually large options trading activity on Thursday. Investors purchased 935 put options on the company. This is an increase of 790% compared to the average volume of 105 put options.

Several equities analysts have issued reports on CNP shares. ValuEngine raised shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Goldman Sachs Group started coverage on shares of CenterPoint Energy in a report on Monday, February 25th. They set a “buy” rating and a $34.00 price objective on the stock. Wells Fargo & Co reaffirmed a “buy” rating on shares of CenterPoint Energy in a report on Monday, December 24th. Credit Suisse Group set a $32.00 price objective on shares of CenterPoint Energy and gave the company a “buy” rating in a report on Friday, March 1st. Finally, Zacks Investment Research raised shares of CenterPoint Energy from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective on the stock in a report on Tuesday, January 8th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $31.18.

In other CenterPoint Energy news, VP Joseph John Vortherms sold 2,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $30.10, for a total transaction of $60,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Milton Carroll sold 40,000 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $30.02, for a total transaction of $1,200,800.00. The disclosure for this sale can be found here. Insiders have sold 129,000 shares of company stock worth $3,881,030 over the last three months. 0.22% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Financial Architects Inc acquired a new stake in shares of CenterPoint Energy in the fourth quarter valued at about $28,000. PRW Wealth Management LLC acquired a new stake in CenterPoint Energy during the fourth quarter worth about $29,000. Claybrook Capital LLC acquired a new stake in CenterPoint Energy during the fourth quarter worth about $31,000. Sound Income Strategies LLC increased its position in CenterPoint Energy by 793.7% during the fourth quarter. Sound Income Strategies LLC now owns 1,126 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in CenterPoint Energy by 89.4% during the fourth quarter. Parallel Advisors LLC now owns 1,352 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 638 shares during the last quarter. Institutional investors and hedge funds own 80.50% of the company’s stock.

Shares of NYSE CNP opened at $30.41 on Friday. The stock has a market capitalization of $15.24 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 3.47 and a beta of 0.46. The company has a quick ratio of 2.01, a current ratio of 2.13 and a debt-to-equity ratio of 1.37. CenterPoint Energy has a 52 week low of $24.81 and a 52 week high of $31.42.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Thursday, February 28th. The utilities provider reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.02. CenterPoint Energy had a net margin of 3.48% and a return on equity of 14.16%. During the same period in the previous year, the business earned $0.33 earnings per share. As a group, equities research analysts predict that CenterPoint Energy will post 1.64 EPS for the current fiscal year.

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About CenterPoint Energy

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.

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