CenterPoint Energy (NYSE:CNP) Shares Break Below 200-Day Moving Average – What’s Next?

CenterPoint Energy, Inc. (NYSE:CNP) shares crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $41.58 and traded as low as $40.25. CenterPoint Energy shares last traded at $41.0360, with a volume of 20,802,466 shares changing hands.

Wall Street Analysts Forecast Growth

CNP has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on CenterPoint Energy from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. Weiss Ratings restated a “buy (b)” rating on shares of CenterPoint Energy in a research note on Friday, September 11th. TD Cowen started coverage on CenterPoint Energy in a report on Thursday, October 22nd. They set a “buy” rating and a $47.00 price target on the stock. Truist Financial dropped their price objective on CenterPoint Energy from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Finally, Barclays lifted their price objective on CenterPoint Energy from $41.00 to $43.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 28th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.29.

CenterPoint Energy Stock Performance

The business has a 50-day moving average of $39.37 and a 200 day moving average of $41.59. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.15 and a quick ratio of 0.97. The company has a market cap of $26.95 billion, a PE ratio of 23.23, a PEG ratio of 2.82 and a beta of 0.43.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Tuesday, October 27th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.03. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.17 billion. CenterPoint Energy had a return on equity of 11.16% and a net margin of 11.76%. During the same period last year, the firm posted $0.50 earnings per share. Equities research analysts anticipate that CenterPoint Energy, Inc. will post 1.91 EPS for the current fiscal year.

CenterPoint Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 19th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, November 19th. CenterPoint Energy’s payout ratio is presently 54.86%.

Institutional Investors Weigh In On CenterPoint Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNP. Aberdeen Group plc grew its holdings in CenterPoint Energy by 1.1% in the third quarter. Aberdeen Group plc now owns 1,397,254 shares of the utilities provider’s stock worth $51,419,000 after purchasing an additional 14,832 shares during the last quarter. Allworth Financial LP increased its position in shares of CenterPoint Energy by 54.7% during the third quarter. Allworth Financial LP now owns 11,791 shares of the utilities provider’s stock worth $434,000 after purchasing an additional 4,170 shares in the last quarter. Eurizon Capital SGR S.p.A. lifted its holdings in shares of CenterPoint Energy by 11.1% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 95,268 shares of the utilities provider’s stock valued at $3,507,000 after purchasing an additional 9,540 shares during the last quarter. Jacobi Capital Management LLC purchased a new stake in shares of CenterPoint Energy during the 3rd quarter valued at $122,000. Finally, First Command Advisory Services Inc. lifted its holdings in shares of CenterPoint Energy by 145.9% during the 3rd quarter. First Command Advisory Services Inc. now owns 1,426 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 846 shares during the last quarter. 91.77% of the stock is owned by hedge funds and other institutional investors.

About CenterPoint Energy

CenterPoint Energy, Inc is a public utility holding company that provides electric and natural gas energy services in the United States. Its operations include electric transmission and distribution, natural gas distribution, and related infrastructure services for residential, commercial, and industrial customers.

The company is the primary electric delivery utility for the Houston, Texas, area and operates electric and natural gas businesses in several states, including Texas, Indiana, Ohio, Louisiana, and Mississippi.