CenterPoint Energy's stock performance compared to the Dow Jones Industrial Average?
Centerpoint Energy, Inc. (CNP), a public utility holding company based in Houston, Texas, has been making waves in the market over the past year. With a market cap of $24.8 billion, CNP is classified as a "large-cap stock."
The company, which provides home services including the repair and maintenance of gas and electric equipment, as well as owning some power generation capacity, has outperformed its rival, Entergy Corporation, as well as the Dow Jones Industrial Average (DOWI).
Over the past 52 weeks, CNP has rallied 34.4%, outperforming DOWI's 10.6% uptick over the same time period. In the same three-month period, CNP's shares have gained 6.5%, compared to DOWI's 9%. On a YTD basis, CNP's shares are up 19.9%, compared to DOWI's 8.2% rise. Meanwhile, CNP has lagged behind Entergy Corporation's 36.6% rise over the past 52 weeks, but has outpaced its 16.3% uptick on a YTD basis.
On Jul. 24, shares of CNP surged 1.9% after its mixed Q2 earnings release. The company's overall revenue improved 2% year-over-year to $1.9 billion, surpassing consensus estimates. However, CNP's adjusted EPS fell 19.4% from the year-ago quarter to $0.29, missing analyst expectations by a notable margin of 14.7%.
Despite this, the mean price target of $40.67 suggests a 6.9% potential upside from its current price levels. Centerpoint Energy, Inc. currently has a consensus rating of "Moderate Buy" from 16 analysts covering the stock, but the information does not specify which individual analysts have given this rating.
It's important to note that this article's information and data are solely for informational purposes. For more detailed information, please view the website's Disclosure Policy here. Neharika Jain did not have positions in any of the securities mentioned in this article at the date of publication.
CNP delivers both natural gas and electric utility services. The company has been trading above its 200-day and 50-day moving averages over the past year, with some fluctuations. CNP's shares are currently trading 3.4% below its 52-week high of $39.39.
Recently, CNP announced an increase in its fiscal 2025 and 10-year capital investment plan by $500 million without the anticipated need for incremental equity. This move is aimed at strengthening the company's long-term growth prospects.
In conclusion, despite a slight miss in its Q2 earnings, Centerpoint Energy, Inc. has been performing well over the past year, outperforming both the market and its rivals. The company's long-term growth prospects seem promising, given its recent capital investment plan expansion. As always, investors are advised to do their own research and consider seeking advice from a financial advisor before making investment decisions.
