Hartford Investment Management Co. lowered its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 6.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 95,784 shares of the utilities provider’s stock after selling 6,190 shares during the period. Hartford Investment Management Co.’s holdings in CenterPoint Energy were worth $2,798,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Paradigm Asset Management Co. LLC grew its position 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 worth $126,000 after purchasing an additional 100 shares in the last quarter. IHT Wealth Management LLC acquired a new position in shares of CenterPoint Energy during the 2nd quarter worth approximately $153,000. Pinebridge Investments L.P. acquired a new position in shares of CenterPoint Energy during the 2nd quarter worth approximately $154,000. Eagle Ridge Investment Management acquired a new position in shares of CenterPoint Energy during the 3rd quarter worth approximately $201,000. Finally, Buckingham Asset Management LLC acquired a new position in shares of CenterPoint Energy during the 3rd quarter worth approximately $201,000. Institutional investors and hedge funds own 77.98% of the company’s stock.
A number of brokerages have issued reports on CNP. Guggenheim lowered shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a research report on Monday. Zacks Investment Research lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, November 28th. BidaskClub raised shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Credit Suisse Group raised shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $28.82 to $29.00 in a report on Monday, August 14th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $29.00 price target on shares of CenterPoint Energy in a report on Monday, September 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $28.89.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Friday, November 3rd. The utilities provider reported $0.39 earnings per share for the quarter, hitting 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 the consensus estimate of $2.07 billion. During the same quarter in the prior year, the firm posted $0.41 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. research analysts forecast that CenterPoint Energy, Inc. will post 1.31 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Wednesday, November 15th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 78.10%.
In related news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $29.61, for a total value of $29,610.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.
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CenterPoint Energy 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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