Stifel Financial Corp raised its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 9.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,545 shares of the utilities provider’s stock after buying an additional 989 shares during the period. Stifel Financial Corp’s holdings in CenterPoint Energy were worth $321,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. raised its stake in CenterPoint Energy by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 377,979 shares of the utilities provider’s stock valued at $10,421,000 after buying an additional 11,276 shares during the last quarter. Macquarie Group Ltd. raised its stake in CenterPoint Energy by 1.2% in the fourth quarter. Macquarie Group Ltd. now owns 280,143 shares of the utilities provider’s stock valued at $6,903,000 after buying an additional 3,400 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in CenterPoint Energy during the fourth quarter valued at $503,000. Searle & CO. acquired a new stake in CenterPoint Energy during the fourth quarter valued at $341,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in CenterPoint Energy during the fourth quarter valued at $344,000. Hedge funds and other institutional investors own 77.44% of the company’s stock.
CenterPoint Energy, Inc. (CNP) traded up 0.04% during trading on Friday, hitting $28.14. 1,833,298 shares of the stock traded hands. The company has a 50-day moving average price of $27.92 and a 200 day moving average price of $27.47. The stock has a market cap of $12.13 billion, a PE ratio of 26.06 and a beta of 0.63. CenterPoint Energy, Inc. has a one year low of $21.83 and a one year high of $29.08.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Friday, May 5th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.01. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.14 billion. CenterPoint Energy had a return on equity of 15.20% and a net margin of 5.68%. The business’s revenue was up 37.9% on a year-over-year basis. During the same period last year, the business earned $0.32 earnings per share. Analysts expect that CenterPoint Energy, Inc. will post $1.31 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.2675 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 3.80%. CenterPoint Energy’s payout ratio is presently 100.00%.
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Several research firms have weighed in on CNP. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Deutsche Bank AG boosted their target price on shares of CenterPoint Energy from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. Finally, J P Morgan Chase & Co began coverage on shares of CenterPoint Energy in a research note on Thursday, June 29th. They set a “neutral” rating and a $29.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $27.33.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of CenterPoint Energy stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.
CenterPoint Energy Company Profile
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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