Wealthfront Advisers LLC raised its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 4.8% during the first quarter, Holdings Channel reports. The institutional investor owned 55,577 shares of the utilities provider’s stock after acquiring an additional 2,530 shares during the period. Wealthfront Advisers LLC’s holdings in CenterPoint Energy were worth $1,706,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. TIAA CREF Investment Management LLC increased its holdings in CenterPoint Energy by 2.4% in the third quarter. TIAA CREF Investment Management LLC now owns 1,160,870 shares of the utilities provider’s stock valued at $32,098,000 after buying an additional 27,645 shares in the last quarter. Vanguard Group Inc raised its stake in shares of CenterPoint Energy by 10.6% in the 3rd quarter. Vanguard Group Inc now owns 54,775,862 shares of the utilities provider’s stock valued at $1,514,553,000 after acquiring an additional 5,270,138 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of CenterPoint Energy by 10.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 11,725 shares of the utilities provider’s stock valued at $331,000 after acquiring an additional 1,112 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of CenterPoint Energy by 7.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 31,528 shares of the utilities provider’s stock valued at $890,000 after acquiring an additional 2,295 shares during the period. Finally, BB&T Securities LLC raised its stake in shares of CenterPoint Energy by 274.2% in the 4th quarter. BB&T Securities LLC now owns 54,602 shares of the utilities provider’s stock valued at $1,541,000 after acquiring an additional 40,010 shares during the period. Hedge funds and other institutional investors own 78.35% of the company’s stock.
CNP has been the topic of a number of research analyst reports. Goldman Sachs Group initiated coverage on shares of CenterPoint Energy in a research note on Monday, February 25th. They issued a “buy” rating and a $34.00 price target on the stock. Wells Fargo & Co reissued a “buy” rating on shares of CenterPoint Energy in a research note on Thursday, February 28th. ValuEngine downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Credit Suisse Group set a $32.00 price target on shares of CenterPoint Energy and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, JPMorgan Chase & Co. reduced their price target on shares of CenterPoint Energy from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 15th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $32.00.
CNP traded up $0.29 during trading hours on Wednesday, hitting $28.93. 102,012 shares of the company’s stock were exchanged, compared to its average volume of 4,789,022. CenterPoint Energy, Inc. has a 12-month low of $25.27 and a 12-month high of $31.42. The company has a market cap of $14.53 billion, a P/E ratio of 18.07, a PEG ratio of 3.22 and a beta of 0.51. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 2.12.
CenterPoint Energy (NYSE:CNP) last announced its earnings results on Thursday, May 9th. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.06). CenterPoint Energy had a return on equity of 13.31% and a net margin of 3.39%. The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same period in the previous year, the company earned $0.55 earnings per share. CenterPoint Energy’s quarterly revenue was up 11.9% on a year-over-year basis. Research analysts forecast that CenterPoint Energy, Inc. will post 1.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 16th will be paid a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 3.98%. The ex-dividend date is Wednesday, May 15th. CenterPoint Energy’s payout ratio is currently 71.88%.
In related news, Chairman Milton Carroll sold 12,000 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $29.76, for a total transaction of $357,120.00. Following the completion of the sale, the chairman now owns 98,301 shares in the company, valued at approximately $2,925,437.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Scott M. Prochazka sold 7,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $30.58, for a total transaction of $214,060.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,780 shares of company stock worth $1,573,746. 0.24% of the stock is owned by insiders.
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About CenterPoint Energy
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
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