Symphony Asset Management LLC lessened its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,248 shares of the utilities provider’s stock after selling 3,594 shares during the period. Symphony Asset Management LLC’s holdings in CenterPoint Energy were worth $2,388,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in CNP. BlackRock Inc. lifted its holdings in shares of CenterPoint Energy by 1,521.6% during the 1st quarter. BlackRock Inc. now owns 39,034,890 shares of the utilities provider’s stock valued at $1,076,193,000 after purchasing an additional 36,627,665 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of CenterPoint Energy by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 47,293,206 shares of the utilities provider’s stock valued at $1,303,873,000 after purchasing an additional 2,359,375 shares in the last quarter. AJO LP lifted its holdings in shares of CenterPoint Energy by 74.9% during the 2nd quarter. AJO LP now owns 2,540,198 shares of the utilities provider’s stock valued at $69,551,000 after purchasing an additional 1,087,736 shares in the last quarter. Janus Capital Management LLC lifted its holdings in shares of CenterPoint Energy by 30.5% during the 1st quarter. Janus Capital Management LLC now owns 3,812,467 shares of the utilities provider’s stock valued at $105,110,000 after purchasing an additional 891,785 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of CenterPoint Energy by 3.6% during the 1st quarter. State Street Corp now owns 23,857,898 shares of the utilities provider’s stock valued at $657,763,000 after purchasing an additional 818,887 shares in the last quarter. Institutional investors and hedge funds own 76.89% of the company’s stock.
CNP has been the topic of several recent analyst reports. Zacks Investment Research upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Monday, June 5th. BidaskClub upgraded CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Finally, Credit Suisse Group upgraded CenterPoint Energy from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $28.82 to $29.00 in a report on Monday, August 14th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $27.89.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $27.66, for a total value of $27,660.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 3,000 shares of company stock worth $85,500. Corporate insiders own 0.20% of the company’s stock.
CenterPoint Energy, Inc. (CNP) traded down 0.805% during midday trading on Tuesday, reaching $30.205. The company’s stock had a trading volume of 229,433 shares. The firm has a market cap of $13.02 billion, a P/E ratio of 21.575 and a beta of 0.63. CenterPoint Energy, Inc. has a 52-week low of $21.83 and a 52-week high of $30.44. The firm has a 50 day moving average of $29.03 and a 200 day moving average of $28.16.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.07. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.98 billion. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The company’s quarterly revenue was up 36.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. Analysts anticipate that CenterPoint Energy, Inc. will post $1.34 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Wednesday, August 16th were issued a $0.2675 dividend. The ex-dividend date was Monday, August 14th. This represents a $1.07 annualized dividend and a yield of 3.51%. CenterPoint Energy’s payout ratio is currently 76.98%.
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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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