Engineers Gate Manager LP acquired a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 154,489 shares of the utilities provider’s stock, valued at approximately $4,259,000.
Several other large investors also recently made changes to their positions in the stock. Kernodle & Katon Asset Management Group LLC raised its stake in CenterPoint Energy by 2,490.1% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 4,714 shares of the utilities provider’s stock valued at $109,000 after buying an additional 4,532 shares during the last quarter. Guidant Wealth Advisors acquired a new stake in CenterPoint Energy during the third quarter valued at approximately $107,000. Usca Ria LLC acquired a new stake in CenterPoint Energy during the first quarter valued at approximately $204,000. Wetherby Asset Management Inc. acquired a new stake in CenterPoint Energy during the first quarter valued at approximately $207,000. Finally, Tdam USA Inc. acquired a new stake in CenterPoint Energy during the first quarter valued at approximately $212,000. 77.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CenterPoint Energy, Inc. (CNP) opened at 28.88 on Friday. The stock has a market capitalization of $12.45 billion, a PE ratio of 26.74 and a beta of 0.62. CenterPoint Energy, Inc. has a one year low of $21.83 and a one year high of $29.08. The firm’s 50-day moving average is $28.05 and its 200-day moving average is $26.78.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Friday, May 5th. The utilities provider reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $2.14 billion. During the same period in the prior year, the company earned $0.32 earnings per share. The company’s revenue was up 37.9% compared to the same quarter last year. On average, analysts expect that CenterPoint Energy, Inc. will post $1.31 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Tuesday, May 16th were issued a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Friday, May 12th. CenterPoint Energy’s dividend payout ratio is presently 100.00%.
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CNP has been the topic of several research reports. Zacks Investment Research raised shares of CenterPoint Energy from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Monday, June 5th. Deutsche Bank AG upped their target price on shares of CenterPoint Energy from $27.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. Royal Bank of Canada downgraded shares of CenterPoint Energy from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $17.00 to $28.00 in a research note on Thursday, March 16th. They noted that the move was a valuation call. Barclays PLC upped their target price on shares of CenterPoint Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Monday, March 20th. Finally, BidaskClub downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $27.50.
In related news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $28.67, for a total transaction of $28,670.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by company insiders.
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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