Swiss National Bank reduced its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,956,657 shares of the utilities provider’s stock after selling 26,100 shares during the quarter. Swiss National Bank owned about 0.36% of CenterPoint Energy worth $37,861,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of CenterPoint Energy by 7.1% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,872,009 shares of the utilities provider’s stock valued at $146,971,000 after purchasing an additional 521,559 shares during the last quarter. Blackstone Group Inc bought a new position in CenterPoint Energy in the second quarter valued at approximately $141,685,000. Prudential PLC boosted its stake in CenterPoint Energy by 33.9% in the second quarter. Prudential PLC now owns 4,446,501 shares of the utilities provider’s stock valued at $83,016,000 after acquiring an additional 1,126,500 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its stake in CenterPoint Energy by 17.8% in the third quarter. Duff & Phelps Investment Management Co. now owns 3,960,005 shares of the utilities provider’s stock valued at $76,626,000 after acquiring an additional 598,680 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in CenterPoint Energy in the second quarter valued at approximately $62,909,000. 80.88% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on CNP shares. KeyCorp raised shares of CenterPoint Energy from an “underweight” rating to a “sector weight” rating in a research note on Thursday, November 5th. Barclays raised their price objective on shares of CenterPoint Energy from $21.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday. Bank of America raised shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $19.00 to $21.00 in a research note on Friday, August 7th. BMO Capital Markets lifted their price target on shares of CenterPoint Energy from $21.00 to $23.00 and gave the stock a “market perform” rating in a research report on Friday, November 6th. Finally, Morgan Stanley lifted their price target on shares of CenterPoint Energy from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. CenterPoint Energy presently has an average rating of “Hold” and a consensus price target of $21.18.
Shares of NYSE:CNP opened at $23.46 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.73 and a debt-to-equity ratio of 2.01. CenterPoint Energy, Inc. has a 12 month low of $11.58 and a 12 month high of $27.53. The company’s fifty day simple moving average is $21.95 and its 200 day simple moving average is $19.68. The firm has a market cap of $12.78 billion, a price-to-earnings ratio of -12.03, a PEG ratio of 3.85 and a beta of 0.95.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Thursday, November 5th. The utilities provider reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.04. CenterPoint Energy had a positive return on equity of 14.78% and a negative net margin of 9.49%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the company earned $0.53 EPS. CenterPoint Energy’s revenue for the quarter was down 2.2% compared to the same quarter last year. Research analysts expect that CenterPoint Energy, Inc. will post 1.32 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, November 18th. This represents a $0.60 annualized dividend and a yield of 2.56%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 33.52%.
CenterPoint Energy Profile
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Houston Electric T&D segment electric transmission and distribution services to electric utility. It owns 236 substation sites with a total installed rated transformer capacity of 68,053 megavolt amperes.
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