Centerpoint Energy Inc (NYSE: CNP)’s stock price has increased by 0.63 compared to its previous closing price of 31.73. However, the company has seen a 3.47% increase in its stock price over the last five trading sessions. prnewswire.com reported 2024-11-19 that Company has installed or replaced nearly 4,600 stronger storm-resilient poles; cleared more than 800 miles of higher-risk vegetation; undergrounded more than 100 miles of power lines; and installed dozens of new, intelligent grid switching devices HOUSTON, Nov. 19, 2024 /PRNewswire/ — CenterPoint Energy today released the first of its public progress updates on the actions being taken throughout the Greater Houston 12-county area as part of Phase Two of its Greater Houston Resiliency Initiative (GHRI). In the first two months of the program, and in preparation for the 2025 hurricane season, CenterPoint has installed nearly 4,600 storm-resilient poles designed to better withstand extreme winds; installed more than 100 miles of power lines underground to reduce the impact of extreme weather; cleared more than 800 miles of hazardous vegetation to improve reliability; and installed more self-healing automation devices to help improve overall restoration times.
Is It Worth Investing in Centerpoint Energy Inc (NYSE: CNP) Right Now?
Centerpoint Energy Inc (NYSE: CNP) has a higher price-to-earnings ratio of 21.16x compared to its average ratio. CNP has 36-month beta value of 0.95. Analysts have mixed views on the stock, with 3 analysts rating it as a “buy,” 2 as “overweight,” 14 as “hold,” and 0 as “sell.”
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The public float for CNP is 648.18M, and currently, short sellers hold a 2.81% ratio of that float. The average trading volume of CNP on November 25, 2024 was 5.79M shares.
CNP’s Market Performance
CNP stock saw an increase of 3.47% in the past week, with a monthly gain of 8.31% and a quarterly increase of 17.48%. The volatility ratio for the week is 1.92%, and the volatility levels for the last 30 days are 2.45% for Centerpoint Energy Inc (CNP). The simple moving average for the last 20 days is 5.83% for CNP stock, with a simple moving average of 10.69% for the last 200 days.
Analysts’ Opinion of CNP
Many brokerage firms have already submitted their reports for CNP stocks, with BofA Securities repeating the rating for CNP by listing it as a “Neutral.” The predicted price for CNP in the upcoming period, according to BofA Securities is $29 based on the research report published on September 12, 2024 of the current year 2024.
Wells Fargo, on the other hand, stated in their research note that they expect to see CNP reach a price target of $28, previously predicting the price at $32. The rating they have provided for CNP stocks is “Equal Weight” according to the report published on August 13th, 2024.
CNP Trading at 7.49% from the 50-Day Moving Average
After a stumble in the market that brought CNP to its low price for the period of the last 52 weeks, the company was able to rebound, for now settling with 0.39% of gains for the given period.
Volatility was left at 2.45%, however, over the last 30 days, the volatility rate increased by 1.92%, as shares surge +8.94% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.32% upper at present.
During the last 5 trading sessions, CNP rose by +3.47%, which changed the moving average for the period of 200-days by +16.41% in comparison to the 20-day moving average, which settled at $30.17. In addition, Centerpoint Energy Inc saw 11.76% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CNP starting from Smitherman Barry T, who sale 5,670 shares at the price of $29.42 back on May 03 ’24. After this action, Smitherman Barry T now owns 21,203 shares of Centerpoint Energy Inc, valued at $166,811 using the latest closing price.
Foster Christopher A, the EVP and CFO of Centerpoint Energy Inc, purchase 5,000 shares at $28.10 during a trade that took place back on Nov 29 ’23, which means that Foster Christopher A is holding 147,693 shares at $140,496 based on the most recent closing price.
Stock Fundamentals for CNP
Current profitability levels for the company are sitting at:
- 0.21 for the present operating margin
- 0.36 for the gross margin
The net margin for Centerpoint Energy Inc stands at 0.11. The total capital return value is set at 0.05. Equity return is now at value 9.57, with 2.35 for asset returns.
Based on Centerpoint Energy Inc (CNP), the company’s capital structure generated 0.65 points at debt to capital in total, while cash flow to debt ratio is standing at 0.1. The debt to equity ratio resting at 1.89. The interest coverage ratio of the stock is 2.24.
Currently, EBITDA for the company is 3.19 billion with net debt to EBITDA at 6.03. When we switch over and look at the enterprise to sales, we see a ratio of 4.74. The receivables turnover for the company is 7.09for trailing twelve months and the total asset turnover is 0.2. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.11.
Conclusion
To put it simply, Centerpoint Energy Inc (CNP) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
