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Is CenterPoint Energy Inc. (NYSE: CNP) Stock Good For Medium-Term Investing?

CenterPoint Energy Inc. (NYSE:CNP) traded at $31.99 at close of the session on Tuesday, 09/20/22, made a downward move of -1.45% on its previous day’s price.

Looking at the stock we see that its previous close was $32.46 and the beta (5Y monthly) reads 0.88 with the day’s price range being $31.63 – $32.34. The company has a trailing 12-month PE ratio of 23.66. In terms of its 52-week price range, CNP has a high of $33.22 and a low of $24.33. The company’s stock has lost about -2.02% over that past 30 days.

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CenterPoint Energy Inc. has a market cap of $20.23 billion and is expected to release its quarterly earnings report on Feb 23, 2022 – Feb 28, 2022. With its Forward Dividend at 0.72 and a yield of 2.25%, the company’s investors could be anxious for the CNP stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $0.27, with the EPS growth for the year raised at $1.37 for 2022 and $1.49 for next year. These figures represent -16.50% and 8.80% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $1.68 billion, with a low of $1.45 billion and a high of $1.74 billion. The median projection represents growth adding up to -3.40% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $8.54 billion, or 2.20% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the CNP stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.

Looking further, we note the current price level is -0.67% off its SMA20 and 1.60% from its 50-day simple moving average. The RSI (14) is pointing at 48.83 while the volatility over the past week is 1.77% and jumps to 1.88% over the past one month. The beta value is 0.86, while the average true range (ATR) is currently pointing at 0.62.

Let’s briefly compare CenterPoint Energy Inc. (CNP) stock to its peers. We find that current price change of -1.45% and 29.46% over the past 12 months for CNP competes that of Duke Energy Corporation (DUK), which has seen its stock price fall -1.10% in the last trading session and was 6.02% over the last one year. Another of its peers Exelon Corporation (EXC) has dropped -1.41% previous session, and was 20.69% up over the past year, while Sempra (SRE) was also down -2.35% in the last session, while its price remained in the green at 28.87% over the same period. CenterPoint Energy Inc. has a P/E ratio of 23.66 compared to Duke Energy Corporation’s 21.38 and Exelon Corporation’s 16.53. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at -1.13% and -1.01%, respectively, at close of the trading.

Coming back to CenterPoint Energy Inc. (NYSE:CNP), we note that the average 3-month trading volume was 3.43 million, while that of the preceding 10-day period stands at 3.78 million. Current shares outstanding are 629.00 million.

The insiders hold 0.20% of the company’s shares while institutions hold 91.80%. The data shows that short shares as of Jul 14, 2022, stood at 12.83 million at a short ratio of 3.04. This represents a 2.04% short interest in shares outstanding on Jul 14, 2022. Shares short rose in July from the previous month at 9.59 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 14.62% up in year-to-date price movement.

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