Wealth Enhancement Advisory Services LLC purchased a new stake in CenterPoint Energy, Inc. (NYSE:CNP) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 35,786 shares of the utilities provider’s stock, valued at approximately $1,029,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of CenterPoint Energy by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 7,131,126 shares of the utilities provider’s stock worth $200,993,000 after purchasing an additional 550,475 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in CenterPoint Energy by 21.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,338,732 shares of the utilities provider’s stock valued at $37,789,000 after acquiring an additional 238,563 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in CenterPoint Energy by 3.0% in the first quarter. Retirement Systems of Alabama now owns 233,375 shares of the utilities provider’s stock valued at $7,165,000 after acquiring an additional 6,697 shares during the last quarter. Flagship Harbor Advisors LLC lifted its holdings in CenterPoint Energy by 174.6% in the first quarter. Flagship Harbor Advisors LLC now owns 950 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 604 shares during the last quarter. Finally, Carroll Financial Associates Inc. lifted its holdings in CenterPoint Energy by 2,252.3% in the first quarter. Carroll Financial Associates Inc. now owns 9,315 shares of the utilities provider’s stock valued at $285,000 after acquiring an additional 8,919 shares during the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Scott M. Prochazka sold 7,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $29.03, for a total transaction of $203,210.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Milton Carroll sold 19,780 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $29.70, for a total value of $587,466.00. Following the sale, the insider now directly owns 98,301 shares in the company, valued at approximately $2,919,539.70. The disclosure for this sale can be found here. In the last three months, insiders sold 40,780 shares of company stock worth $1,188,276. 0.24% of the stock is owned by corporate insiders.
NYSE CNP traded up $0.23 on Friday, reaching $27.80. The stock had a trading volume of 122,078 shares, compared to its average volume of 4,580,850. The firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 3.32 and a beta of 0.46. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 2.17. CenterPoint Energy, Inc. has a 12-month low of $26.74 and a 12-month high of $31.42. The stock has a fifty day moving average price of $28.70 and a two-hundred day moving average price of $29.82.
CenterPoint Energy (NYSE:CNP) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. The company had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.79 billion. CenterPoint Energy had a return on equity of 13.59% and a net margin of 5.55%. The firm’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 earnings per share. Sell-side analysts forecast that CenterPoint Energy, Inc. will post 1.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 15th will be given a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Wednesday, August 14th. CenterPoint Energy’s payout ratio is 71.88%.
CNP has been the topic of a number of recent analyst reports. Credit Suisse Group set a $33.00 price objective on CenterPoint Energy and gave the company a “buy” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. decreased their price objective on CenterPoint Energy from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, May 15th. Mizuho initiated coverage on CenterPoint Energy in a report on Monday, June 3rd. They issued a “buy” rating and a $31.00 price objective on the stock. KeyCorp assumed coverage on CenterPoint Energy in a report on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Finally, Morgan Stanley boosted their target price on CenterPoint Energy from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Friday, June 14th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $31.85.
CenterPoint Energy Profile
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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