DnB Asset Management AS boosted its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 10.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 59,813 shares of the utilities provider’s stock after buying an additional 5,900 shares during the period. DnB Asset Management AS’s holdings in CenterPoint Energy were worth $1,638,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Sowell Financial Services LLC boosted its stake in CenterPoint Energy by 117.2% in the first quarter. Sowell Financial Services LLC now owns 7,653 shares of the utilities provider’s stock worth $214,000 after buying an additional 4,129 shares in the last quarter. Piedmont Investment Advisors LLC boosted its stake in CenterPoint Energy by 1.8% in the first quarter. Piedmont Investment Advisors LLC now owns 231,238 shares of the utilities provider’s stock worth $6,375,000 after buying an additional 4,099 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in CenterPoint Energy by 303.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 411,771 shares of the utilities provider’s stock worth $11,353,000 after buying an additional 309,662 shares in the last quarter. Ballentine Partners LLC bought a new position in shares of CenterPoint Energy during the first quarter valued at approximately $240,000. Finally, Achmea Investment Management B.V. bought a new position in shares of CenterPoint Energy during the first quarter valued at approximately $4,312,000. Institutional investors and hedge funds own 77.35% of the company’s stock.
Shares of CenterPoint Energy, Inc. (CNP) traded up 0.25% during midday trading on Friday, hitting $28.54. 2,701,124 shares of the stock were exchanged. The company has a market cap of $12.30 billion, a price-to-earnings ratio of 26.43 and a beta of 0.64. CenterPoint Energy, Inc. has a one year low of $21.83 and a one year high of $29.08. The firm has a 50 day moving average of $27.92 and a 200-day moving average of $27.54.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.07. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the prior year, the business earned $0.17 earnings per share. The company’s quarterly revenue was up 36.1% compared to the same quarter last year. Equities analysts expect that CenterPoint Energy, Inc. will post $1.31 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Wednesday, August 16th will be paid a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Monday, August 14th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 76.98%.
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Several brokerages recently commented on CNP. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Deutsche Bank AG increased their price objective on shares of CenterPoint Energy from $27.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, April 11th. Finally, J P Morgan Chase & Co started coverage on shares of CenterPoint Energy in a research report on Thursday, June 29th. They set a “neutral” rating and a $29.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $27.33.
In other news, CEO Scott M. Prochazka sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $27.66, for a total transaction of $27,660.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 3,000 shares of company stock valued at $84,560 in the last 90 days. Company insiders own 0.20% of the company’s stock.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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