DnB Asset Management AS boosted its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 10.9% during the second quarter, according to its most recent 13F 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 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in CNP. Van ECK Associates Corp boosted its position in shares of CenterPoint Energy by 18.0% in the first quarter. Van ECK Associates Corp now owns 3,695 shares of the utilities provider’s stock valued at $102,000 after buying an additional 564 shares in the last quarter. Johnson Financial Group Inc. boosted its position in shares of CenterPoint Energy by 28.8% in the first quarter. Johnson Financial Group Inc. now owns 4,843 shares of the utilities provider’s stock valued at $134,000 after buying an additional 1,084 shares in the last quarter. Mirador Capital Partners LP purchased a new position in shares of CenterPoint Energy during the first quarter valued at about $200,000. Usca Ria LLC purchased a new position in shares of CenterPoint Energy during the first quarter valued at about $204,000. Finally, Private Advisory Group LLC purchased a new position in shares of CenterPoint Energy during the first quarter valued at about $205,000. 77.61% of the stock is currently owned by institutional investors.
Shares of CenterPoint Energy, Inc. (NYSE CNP) opened at 27.15 on Wednesday. The firm’s 50 day moving average is $28.08 and its 200 day moving average is $27.05. CenterPoint Energy, Inc. has a 12 month low of $21.83 and a 12 month high of $29.08. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 25.14 and a beta of 0.63.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Friday, May 5th. The utilities provider reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.01. CenterPoint Energy had a return on equity of 15.20% and a net margin of 5.68%. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the company posted $0.32 EPS. CenterPoint Energy’s revenue for the quarter was up 37.9% on a year-over-year basis. On average, equities analysts predict that CenterPoint Energy, Inc. will post $1.31 earnings per share for the current fiscal year.
Several equities analysts have issued reports on the stock. BidaskClub cut shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Wednesday. J P Morgan Chase & Co assumed coverage on shares of CenterPoint Energy in a research note on Thursday, June 29th. They issued a “neutral” rating and a $29.00 price objective on the stock. Zacks Investment Research cut shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Barclays PLC boosted their price objective on shares of CenterPoint Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Monday, March 20th. Finally, Royal Bank Of Canada cut shares of CenterPoint Energy from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $17.00 to $28.00 in a research note on Thursday, March 16th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. CenterPoint Energy has a consensus rating of “Hold” and an average price target of $27.63.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $27.66, for a total transaction of $27,660.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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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