Alps Advisors Inc. lifted its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 210,979 shares of the utilities provider’s stock after purchasing an additional 4,762 shares during the period. Alps Advisors Inc.’s holdings in CenterPoint Energy were worth $6,163,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Paradigm Asset Management Co. LLC increased its stake in shares of CenterPoint Energy by 2.2% during the second quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 100 shares during the period. IHT Wealth Management LLC bought a new position in shares of CenterPoint Energy during the second quarter worth approximately $153,000. Pinebridge Investments L.P. bought a new position in shares of CenterPoint Energy during the second quarter worth approximately $154,000. Huntington National Bank increased its stake in shares of CenterPoint Energy by 58.1% during the second quarter. Huntington National Bank now owns 6,121 shares of the utilities provider’s stock worth $168,000 after purchasing an additional 2,250 shares during the period. Finally, Eagle Ridge Investment Management bought a new position in shares of CenterPoint Energy during the third quarter worth approximately $201,000. Institutional investors own 78.11% of the company’s stock.
In related news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $29.08, for a total transaction of $29,080.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 3,000 shares of company stock worth $88,300. 0.20% of the stock is currently owned by company insiders.
CNP has been the topic of a number of analyst reports. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Royal Bank Of Canada reissued a “hold” rating and set a $29.00 price target on shares of CenterPoint Energy in a research report on Monday, September 11th. Credit Suisse Group raised CenterPoint Energy from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $28.82 to $29.00 in a research report on Monday, August 14th. J P Morgan Chase & Co set a $30.00 price target on CenterPoint Energy and gave the stock a “hold” rating in a research report on Thursday, October 12th. Finally, SunTrust Banks, Inc. reissued a “hold” rating and set a $30.00 price target on shares of CenterPoint Energy in a research report on Monday, October 2nd. Nine analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. CenterPoint Energy presently has a consensus rating of “Hold” and a consensus target price of $28.75.
CenterPoint Energy, Inc. (NYSE:CNP) traded down $0.40 during midday trading on Friday, hitting $29.41. The company had a trading volume of 2,403,700 shares, compared to its average volume of 2,474,904. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.81 and a current ratio of 0.91. CenterPoint Energy, Inc. has a 12 month low of $22.32 and a 12 month high of $30.45. The firm has a market cap of $12,676.71, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 4.07 and a beta of 0.64.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Friday, November 3rd. The utilities provider reported $0.39 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. CenterPoint Energy had a return on equity of 16.00% and a net margin of 6.59%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the business posted $0.41 EPS. CenterPoint Energy’s revenue for the quarter was up 11.1% on a year-over-year basis. equities research analysts anticipate that CenterPoint Energy, Inc. will post 1.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 16th will be issued a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Wednesday, November 15th. CenterPoint Energy’s dividend payout ratio (DPR) is 78.10%.
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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