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CenterPoint Energy Inc. (NYSE: CNP) Is A Hot Stock At The Moment

CenterPoint Energy Inc. (NYSE:CNP) traded at $30.19 at close of the session on Tuesday, 01/24/23, made an upward move of 0.63% on its previous day’s price.

Looking at the stock we see that its previous close was $30.00 and the beta (5Y monthly) reads 0.88 with the day’s price range being $29.51 – $30.32. The company has a trailing 12-month PE ratio of 20.94. In terms of its 52-week price range, CNP has a high of $33.50 and a low of $25.03. The company’s stock has lost about -1.11% over that past 30 days.

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CenterPoint Energy Inc. has a market cap of $19.11 billion and is expected to release its quarterly earnings report on Feb 17, 2023. With its Forward Dividend at 0.76 and a yield of 2.52%, 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 $0.3, with the EPS growth for the year raised at $1.38 for 2022 and $1.49 for next year. These figures represent -15.90% and 8.00% 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 $1.78 billion, with a low of $1.69 billion and a high of $1.99 billion. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $8.68 billion, or 3.90% 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 Hold. Long term indicators on average place the stock in the category of Hold.

Based on estimates by 15 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 5 have rated the CenterPoint Energy Inc. (CNP) stock as a Hold, while 10 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is -0.61% off its SMA20 and -0.28% from its 50-day simple moving average. The RSI (14) is pointing at 48.16 while the volatility over the past week is 2.16% and jumps to 2.14% over the past one month. The beta value is 0.88, while the average true range (ATR) is currently pointing at 0.65. The average price target for the stock over the next 12 months is $32.50, with the estimates having a low of $31.00 and a high of $35.00. These price ends are -2.68% and -15.93% off the current price level respectively, although investors could be excited at the prospect of a -7.65% if the CNP share price touches on the median price of $32.50.

Let’s briefly compare CenterPoint Energy Inc. (CNP) stock to its peers. We find that current price change of 0.63% and 10.42% over the past 12 months for CNP competes that of Duke Energy Corporation (DUK), which has seen its stock price rise 0.38% in the last trading session and was -1.56% over the last one year. Another of its peers Exelon Corporation (EXC) has dropped -0.74% previous session, and was 2.54% up over the past year, while Sempra (SRE) was also up 0.24% in the last session, while its price remained in the green at 17.95% over the same period. CenterPoint Energy Inc. has a P/E ratio of 20.94 compared to Duke Energy Corporation’s 20.56 and Exelon Corporation’s 20.31. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at -0.07% and 0.31%, respectively, at close of the trading.

Coming back to CenterPoint Energy Inc. (NYSE:CNP), we note that the average 3-month trading volume was 3.49 million, while that of the preceding 10-day period stands at 3.36 million. Current shares outstanding are 630.00 million.

The insiders hold 0.20% of the company’s shares while institutions hold 93.10%. The data shows that short shares as of Dec 29, 2022, stood at 10.32 million at a short ratio of 3.16. This represents a 1.64% short interest in shares outstanding on Dec 29, 2022. Shares short fall in December from the previous month at 11.9 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 0.67% up in year-to-date price movement.

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