Captrust Financial Advisors lifted its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 313.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 139,371 shares of the utilities provider’s stock after buying an additional 105,674 shares during the quarter. Captrust Financial Advisors’ holdings in CenterPoint Energy were worth $3,953,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its stake in shares of CenterPoint Energy by 6.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 65,817 shares of the utilities provider’s stock worth $1,922,000 after acquiring an additional 4,236 shares during the period. Stifel Financial Corp boosted its stake in shares of CenterPoint Energy by 36.3% in the third quarter. Stifel Financial Corp now owns 101,185 shares of the utilities provider’s stock worth $2,960,000 after acquiring an additional 26,964 shares during the period. California Public Employees Retirement System boosted its stake in shares of CenterPoint Energy by 3.8% in the third quarter. California Public Employees Retirement System now owns 1,414,659 shares of the utilities provider’s stock worth $41,322,000 after acquiring an additional 51,222 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of CenterPoint Energy by 7.1% in the third quarter. Parametric Portfolio Associates LLC now owns 1,719,131 shares of the utilities provider’s stock worth $50,216,000 after acquiring an additional 114,428 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of CenterPoint Energy by 68.9% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 484,694 shares of the utilities provider’s stock worth $14,158,000 after acquiring an additional 197,788 shares during the period. 76.79% of the stock is owned by hedge funds and other institutional investors.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $28.11, for a total transaction of $28,110.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Milton Carroll sold 43,363 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $27.20, for a total value of $1,179,473.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,363 shares of company stock valued at $1,262,484. 0.20% of the stock is owned by corporate insiders.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. CenterPoint Energy had a return on equity of 15.51% and a net margin of 18.64%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the company earned $0.26 earnings per share. The firm’s revenue was up 26.8% on a year-over-year basis. equities analysts anticipate that CenterPoint Energy, Inc. will post 1.55 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 8th. Investors of record on Thursday, February 15th were paid a dividend of $0.2775 per share. The ex-dividend date was Wednesday, February 14th. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.27. This represents a $1.11 dividend on an annualized basis and a yield of 4.09%. CenterPoint Energy’s dividend payout ratio is presently 26.88%.
CNP has been the subject of a number of recent analyst reports. Guggenheim reaffirmed a “hold” rating and issued a $28.00 price objective on shares of CenterPoint Energy in a research note on Friday, February 23rd. Zacks Investment Research raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. SunTrust Banks set a $27.00 price objective on CenterPoint Energy and gave the stock a “hold” rating in a research note on Monday, February 12th. Finally, Citigroup upped their price objective on CenterPoint Energy from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, November 20th. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. CenterPoint Energy has a consensus rating of “Hold” and a consensus price target of $29.10.
About CenterPoint Energy
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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