“During August, the number of short positions held in CenterPoint Energy, Inc. (NYSE: CNP) fell by a sizeable amount. As of August 31, there were 10,420,000 shares borrowed, representing a decline of 10.2% from 11,610,000 shares borrowed on August 15. Based on an average daily trading volume of 3,650,000 shares, the days-to-cover ratio is now at 2.9 days at the time of this writing.
The topic of CNP has been the focus of various examinations that research analysts have carried out. In a research note published on Tuesday, August 9, Evercore ISI boosted their price objective on CenterPoint Energy shares to $33.00. In a research report made public by Barclays on July 18, the brokerage firm had a price target for CenterPoint Energy shares that was reduced from $36.00 to $33.00. Despite this, the company remained “overweight” in the firm’s rating of the company. CNP stock has been the subject of several significant investors’ recent buying and selling activity. During the last quarter of 2018, BlackRock Inc. boosted the percentage of CenterPoint Energy stock owned by 12.0%. BlackRock Inc. now owns 62,536,247 shares of the utility provider’s stock, valued at $1,745,384,000.
This is the result after the company acquired an additional 6,679,825 shares. During the second quarter, Deutsche Bank AG boosted its ownership in CenterPoint Energy by 32.9%. The provider of utilities now has ownership of 19,775,849 shares acquired from Deutsche. The 12-month low for CenterPoint Energy is $24.33, and the 12-month high for CenterPoint Energy is $33.22. The company has a beta of 0.86, a P/E ratio of 13.19, and a P/E/G ratio of 5.95, and its market capitalization is currently valued at $20.17 billion. The price of a share of CNP stock was $32.04 when trading started on Monday. On Tuesday, August 2, CenterPoint Energy (NYSE: CNP) released the quarterly financial data it had been withholding. The utility company’s earnings per share for the quarter came in at $0.31, which was $0.04 more than the median forecast of $0.27.
The performance of CenterPoint Energy was strong, as evidenced by the company’s achievement of a return on equity of 10.92% and a profit margin of 18.16. In the prior year’s comparable period, the business realized $0.36 per share earnings. According to projections made by analysts, CenterPoint Energy’s current fiscal year will result in earnings of $1.38 per share. In addition, the corporation just announced and paid out a quarterly dividend on September 8 after having done so recently. This constitutes an increase compared to the prior quarterly payment made by CenterPoint Energy, which was $0.17. The dividend payment issued on August 17 reflected a yield of 2.25 percent and a payout of $0.72 per share each year. At this time, 29.63% of CenterPoint Energy’s earnings are distributed to shareholders as dividends.