CSat Investment Advisory L.P. reduced its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 12.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,350 shares of the utilities provider’s stock after selling 7,509 shares during the quarter. CSat Investment Advisory L.P.’s holdings in CenterPoint Energy were worth $1,527,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the business. US Bancorp DE grew its stake in CenterPoint Energy by 21.6% during the 1st quarter. US Bancorp DE now owns 86,928 shares of the utilities provider’s stock worth $2,670,000 after buying an additional 15,417 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in CenterPoint Energy by 134.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,622,538 shares of the utilities provider’s stock worth $46,308,000 after purchasing an additional 931,444 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in CenterPoint Energy by 3.7% during the second quarter. Crossmark Global Holdings Inc. now owns 45,561 shares of the utilities provider’s stock worth $1,304,000 after purchasing an additional 1,641 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in CenterPoint Energy by 13.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 52,569 shares of the utilities provider’s stock worth $1,614,000 after purchasing an additional 6,107 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in CenterPoint Energy during the second quarter worth $1,029,000. Institutional investors own 80.21% of the company’s stock.
Several brokerages recently issued reports on CNP. KeyCorp began coverage on CenterPoint Energy in a report on Tuesday, June 4th. They set a “sector weight” rating for the company. SunTrust Banks raised CenterPoint Energy from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $30.00 to $32.00 in a report on Friday, September 6th. Bank of America raised CenterPoint Energy from a “neutral” rating to a “buy” rating and set a $29.32 price objective for the company in a report on Thursday, June 13th. They noted that the move was a valuation call. Stifel Nicolaus raised CenterPoint Energy from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $30.00 to $32.00 in a report on Friday, September 6th. Finally, Goldman Sachs Group raised their price target on CenterPoint Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $32.02.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.04. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.79 billion. CenterPoint Energy had a return on equity of 13.59% and a net margin of 5.55%. The business’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. Sell-side analysts anticipate that CenterPoint Energy, Inc. will post 1.66 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 15th were given a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Wednesday, August 14th. CenterPoint Energy’s dividend payout ratio is currently 71.88%.
In other news, CEO Scott M. Prochazka sold 7,000 shares of CenterPoint Energy stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $29.03, for a total value of $203,210.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 21,000 shares of company stock valued at $596,890. Company insiders own 0.24% of the company’s stock.
CenterPoint Energy Profile
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
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