Ontario Teachers Pension Plan Board Grows Position in CenterPoint Energy, Inc. (CNP)

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Ontario Teachers Pension Plan Board lifted its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 42.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 273,268 shares of the utilities provider’s stock after buying an additional 81,372 shares during the quarter. Ontario Teachers Pension Plan Board owned approximately 0.06% of CenterPoint Energy worth $7,572,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Oppenheimer & Co. Inc. raised its holdings in CenterPoint Energy by 18.9% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 11,129 shares of the utilities provider’s stock worth $309,000 after purchasing an additional 1,771 shares during the period. First Allied Advisory Services Inc. raised its holdings in shares of CenterPoint Energy by 18.9% during the second quarter. First Allied Advisory Services Inc. now owns 11,719 shares of the utilities provider’s stock valued at $331,000 after acquiring an additional 1,865 shares during the last quarter. Amalgamated Bank raised its holdings in shares of CenterPoint Energy by 3.5% during the second quarter. Amalgamated Bank now owns 55,555 shares of the utilities provider’s stock valued at $1,539,000 after acquiring an additional 1,885 shares during the last quarter. Northpointe Capital LLC raised its holdings in shares of CenterPoint Energy by 2.0% during the second quarter. Northpointe Capital LLC now owns 98,431 shares of the utilities provider’s stock valued at $2,728,000 after acquiring an additional 1,927 shares during the last quarter. Finally, ING Groep NV raised its holdings in shares of CenterPoint Energy by 3.2% during the second quarter. ING Groep NV now owns 70,704 shares of the utilities provider’s stock valued at $1,959,000 after acquiring an additional 2,162 shares during the last quarter. Hedge funds and other institutional investors own 77.28% of the company’s stock.

In other news, CEO Scott M. Prochazka sold 4,000 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $27.99, for a total value of $111,960.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Milton Carroll sold 10,000 shares of the stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $28.27, for a total value of $282,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,000 shares of company stock worth $504,940. Insiders own 0.22% of the company’s stock.

Shares of CNP traded up $0.14 during midday trading on Friday, hitting $28.92. 4,597,585 shares of the stock were exchanged, compared to its average volume of 2,404,599. CenterPoint Energy, Inc. has a 52-week low of $24.81 and a 52-week high of $30.34. The firm has a market cap of $12.33 billion, a P/E ratio of 21.11, a P/E/G ratio of 3.14 and a beta of 0.45. The company has a quick ratio of 0.83, a current ratio of 0.95 and a debt-to-equity ratio of 1.66.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Friday, August 3rd. The utilities provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). CenterPoint Energy had a return on equity of 10.73% and a net margin of 15.43%. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the business earned $0.29 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. sell-side analysts expect that CenterPoint Energy, Inc. will post 1.61 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 13th. Stockholders of record on Thursday, August 16th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, August 15th. This represents a $1.11 annualized dividend and a dividend yield of 3.84%. CenterPoint Energy’s dividend payout ratio is currently 81.02%.

A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Monday, July 23rd. Bank of America upgraded CenterPoint Energy from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 28th. JPMorgan Chase & Co. upgraded CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 price target for the company in a research report on Wednesday, September 5th. ValuEngine upgraded CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Finally, SunTrust Banks restated a “hold” rating and issued a $30.00 price target on shares of CenterPoint Energy in a research report on Monday, August 6th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.86.

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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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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