CenterPoint Energy, Inc. (NYSE:CNP) Short Interest Down 14.2% in October

CenterPoint Energy, Inc. (NYSE:CNPGet Rating) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 12,620,000 shares, a drop of 14.2% from the October 15th total of 14,710,000 shares. Based on an average trading volume of 4,230,000 shares, the days-to-cover ratio is currently 3.0 days.

Insider Activity at CenterPoint Energy

In other CenterPoint Energy news, Director Barry T. Smitherman purchased 8,005 shares of CenterPoint Energy stock in a transaction dated Monday, November 7th. The shares were acquired at an average price of $28.38 per share, with a total value of $227,181.90. Following the completion of the transaction, the director now owns 20,534 shares of the company’s stock, valued at $582,754.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CNP. Horizon Investments LLC grew its position in CenterPoint Energy by 6.7% in the 3rd quarter. Horizon Investments LLC now owns 7,205 shares of the utilities provider’s stock valued at $203,000 after buying an additional 454 shares during the last quarter. Principal Street Partners LLC increased its stake in shares of CenterPoint Energy by 98.0% during the third quarter. Principal Street Partners LLC now owns 16,866 shares of the utilities provider’s stock worth $476,000 after acquiring an additional 8,348 shares during the period. Zacks Investment Management purchased a new position in CenterPoint Energy during the third quarter worth about $201,000. Segall Bryant & Hamill LLC lifted its position in CenterPoint Energy by 13.3% in the third quarter. Segall Bryant & Hamill LLC now owns 8,918 shares of the utilities provider’s stock valued at $251,000 after purchasing an additional 1,050 shares during the period. Finally, LMR Partners LLP purchased a new stake in CenterPoint Energy in the 3rd quarter valued at approximately $14,120,000. 88.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CNP has been the subject of several analyst reports. Morgan Stanley boosted their target price on CenterPoint Energy from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday. Wells Fargo & Company reduced their target price on shares of CenterPoint Energy from $35.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday, October 19th. Barclays decreased their price target on shares of CenterPoint Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. KeyCorp dropped their price objective on shares of CenterPoint Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Finally, Guggenheim decreased their price objective on shares of CenterPoint Energy from $35.00 to $30.00 in a research report on Monday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.08.

CenterPoint Energy Price Performance

Shares of NYSE:CNP opened at $29.13 on Tuesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.89 and a quick ratio of 0.69. The stock has a market cap of $18.34 billion, a P/E ratio of 12.09, a P/E/G ratio of 5.95 and a beta of 0.85. CenterPoint Energy has a 1-year low of $25.03 and a 1-year high of $33.50. The firm has a fifty day moving average price of $29.16 and a 200 day moving average price of $30.13.

CenterPoint Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Wednesday, November 16th. CenterPoint Energy’s dividend payout ratio is presently 29.88%.

About CenterPoint Energy

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CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as assets in the wholesale power market.

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