Renaissance Group LLC reduced its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,540 shares of the utilities provider’s stock after selling 1,786 shares during the quarter. Renaissance Group LLC’s holdings in CenterPoint Energy were worth $2,732,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Paradigm Asset Management Co. LLC lifted its stake in shares of CenterPoint Energy by 2.2% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock valued at $126,000 after buying an additional 100 shares in the last quarter. IHT Wealth Management LLC purchased a new stake in shares of CenterPoint Energy during the 2nd quarter valued at approximately $153,000. Pinebridge Investments L.P. purchased a new stake in shares of CenterPoint Energy during the 2nd quarter valued at approximately $154,000. Huntington National Bank lifted its stake in shares of CenterPoint Energy by 58.1% during the 2nd quarter. Huntington National Bank now owns 6,121 shares of the utilities provider’s stock valued at $168,000 after buying an additional 2,250 shares in the last quarter. Finally, Eagle Ridge Investment Management purchased a new stake in shares of CenterPoint Energy during the 3rd quarter valued at approximately $201,000. Institutional investors own 78.54% of the company’s stock.
In other news, CEO Scott M. Prochazka sold 1,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $29.08, for a total value of $29,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 3,000 shares of company stock valued at $88,300 in the last ninety days. 0.20% of the stock is owned by corporate insiders.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Friday, November 3rd. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.39. CenterPoint Energy had a net margin of 6.59% and a return on equity of 16.00%. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the prior year, the company earned $0.41 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. analysts predict that CenterPoint Energy, Inc. will post 1.31 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 16th will be paid a $0.2675 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 3.68%. CenterPoint Energy’s dividend payout ratio (DPR) is 77.54%.
CNP has been the topic of a number of recent research reports. Royal Bank Of Canada restated a “hold” rating and set a $29.00 price target on shares of CenterPoint Energy in a research note on Monday, September 11th. Credit Suisse Group upgraded shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating and upped their price target for the company from $28.82 to $29.00 in a research note on Monday, August 14th. J P Morgan Chase & Co set a $30.00 target price on shares of CenterPoint Energy and gave the stock a “hold” rating in a report on Thursday, October 12th. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $30.00 target price on shares of CenterPoint Energy in a report on Monday, October 2nd. Finally, BidaskClub raised shares of CenterPoint Energy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. Ten research 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 $28.89.
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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