CenterPoint Energy Inc (Holding Co) (CNP) Moves Lower on Volume Spike for February 28

Equities Staff  |

CenterPoint Energy Inc (Holding Co) (CNP) traded on unusually high volume on Feb. 28, as the stock lost 3.27% to close at $30.14. On the day, CenterPoint Energy Inc (Holding Co) saw 11.2 million shares trade hands on 52,107 trades. Considering that the stock averages only a daily volume of 4.75 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $31.01 and $24.81 over the last 52-weeks, its 50-day SMA is now $29.52, and its 200-day SMA $27.52. CenterPoint Energy Inc (Holding Co) has a P/B ratio of 3.2. It also has a P/E ratio of 8.8.

CenterPoint Energy owns a portfolio of energy-related businesses. Its regulated electric utility provides transmission and distribution services to Houston and the surrounding area to approximately 2.5 million customers. The company has natural gas distribution systems in six states, including the cities of Houston and Minneapolis, serving approximately 3.5 million customers. CenterPoint owns approximately 54% of Enable Midstream Partners, a partnership consisting of natural gas processing and storage facilities and more than 21,000 miles of interstate, intrastate, and gathering pipelines in the midcontinent region. The merger with Vectren would add approximately 145,000 electric customers in southwestern Indiana and over 1 million natural gas customers in Indiana and west-central Ohio.

Headquartered in Houston, TX, CenterPoint Energy Inc (Holding Co) has 7,977 employees and is currently under the leadership of CEO Scott M. Prochazka.

For a complete fundamental analysis analysis of CenterPoint Energy Inc (Holding Co), check out Equities.com’s Stock Valuation Analysis report for CNP.

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To get more information on CenterPoint Energy Inc (Holding Co) and to follow the company’s latest updates, you can visit the company’s profile page here: CNP’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.



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