CenterPoint Energy (NYSE:CNP) Share Price Breaks Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• CenterPoint Energy shares fell below their 200-day moving average of $41.58, reaching $40.25 before last trading at about $41.04.
• Analysts maintain a Moderate Buy consensus, with 10 Buy and 7 Hold ratings and an average price target of $44.29.
• The company beat quarterly earnings and revenue estimates, reporting EPS of $0.53 versus $0.50 expected; it also declared a $0.24 quarterly dividend, equivalent to a 2.3% annual yield.

CenterPoint Energy, Inc. (NYSE:CNP - Get Free Report)'s share price passed 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.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Mizuho set a $43.00 price objective on CenterPoint Energy in a report on Wednesday, October 28th. JPMorgan Chase & Co. lowered 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. TD Cowen started coverage on CenterPoint Energy in a research report on Thursday, October 22nd. They issued a "buy" rating and a $47.00 target price on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of CenterPoint Energy in a research report on Friday, September 11th. Finally, Citigroup cut their price target on CenterPoint Energy from $47.00 to $43.00 and set a "neutral" rating for the company in a research note on Thursday, October 8th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $44.29.

CenterPoint Energy Stock Down 3.5%

The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.02. The business's fifty day moving average price is $39.33 and its two-hundred day moving average price is $41.58. The firm has a market cap of $27.20 billion, a P/E ratio of 23.45, a P/E/G ratio of 2.81 and a beta of 0.43.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.03. The firm had revenue of $2.19 billion during the quarter, compared to analysts' expectations of $2.17 billion. CenterPoint Energy had a net margin of 11.76% and a return on equity of 11.16%. During the same period in the prior year, the company posted $0.50 earnings per share. As a group, equities research analysts anticipate that CenterPoint Energy, Inc. will post 1.91 EPS for the current year.

CenterPoint Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.3%. CenterPoint Energy's payout ratio is currently 54.86%.

Institutional Trading of CenterPoint Energy

Several large investors have recently made changes to their positions in CNP. Keating Financial Advisory Services Inc. acquired a new stake in shares of CenterPoint Energy during the 2nd quarter worth approximately $27,000. MidFirst Bank bought a new stake in CenterPoint Energy during the second quarter worth about $38,000. Transamerica Financial Advisors LLC bought a new position in shares of CenterPoint Energy in the second quarter valued at about $40,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of CenterPoint Energy during the second quarter valued at approximately $44,000. Finally, N.E.W. Advisory Services LLC bought a new position in CenterPoint Energy in the 2nd quarter valued at $54,000. Institutional investors own 91.77% of the company's stock.

CenterPoint Energy Company Profile

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.

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