Creative Planning cut its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 1.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,462 shares of the utilities provider’s stock after selling 811 shares during the period. Creative Planning’s holdings in CenterPoint Energy were worth $1,734,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of CNP. First Mercantile Trust Co. increased its stake in shares of CenterPoint Energy by 48.9% during the third quarter. First Mercantile Trust Co. now owns 33,907 shares of the utilities provider’s stock worth $1,023,000 after buying an additional 11,134 shares during the period. Gs Investments Inc. increased its stake in shares of CenterPoint Energy by 8.9% during the third quarter. Gs Investments Inc. now owns 27,245 shares of the utilities provider’s stock worth $822,000 after buying an additional 2,220 shares during the period. Yorktown Management & Research Co Inc purchased a new stake in shares of CenterPoint Energy during the third quarter worth approximately $999,000. Hallmark Capital Management Inc. increased its stake in shares of CenterPoint Energy by 3.6% during the third quarter. Hallmark Capital Management Inc. now owns 80,185 shares of the utilities provider’s stock worth $2,420,000 after buying an additional 2,780 shares during the period. Finally, United Asset Strategies Inc. purchased a new stake in shares of CenterPoint Energy during the third quarter worth approximately $2,135,000. Institutional investors own 79.99% of the company’s stock.
A number of research firms recently weighed in on CNP. Stifel Nicolaus upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating and upped their target price for the stock from $30.00 to $32.00 in a research note on Friday, September 6th. Wells Fargo & Co cut their target price on shares of CenterPoint Energy from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 18th. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Monday, October 14th. Barclays raised CenterPoint Energy from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $33.00 to $31.00 in a report on Tuesday, August 13th. Finally, UBS Group lowered their price target on CenterPoint Energy from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $31.79.
Shares of CNP opened at $28.78 on Friday. The stock has a 50 day moving average price of $29.19 and a 200 day moving average price of $29.10. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 2.17. The company has a market capitalization of $14.43 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 3.37 and a beta of 0.47. CenterPoint Energy, Inc. has a 52-week low of $26.81 and a 52-week high of $31.42.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.10. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.91 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 24.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 earnings per share. On average, equities analysts anticipate that CenterPoint Energy, Inc. will post 1.63 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Wednesday, November 20th. CenterPoint Energy’s payout ratio is currently 71.88%.
CenterPoint Energy Company 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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