Janney Montgomery Scott LLC decreased its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 76.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 114,136 shares of the utilities provider’s stock after selling 363,042 shares during the quarter. Janney Montgomery Scott LLC’s holdings in CenterPoint Energy were worth $2,131,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in CNP. Retirement Systems of Alabama increased its holdings in shares of CenterPoint Energy by 0.7% in the second quarter. Retirement Systems of Alabama now owns 1,791,691 shares of the utilities provider’s stock worth $33,451,000 after acquiring an additional 12,104 shares in the last quarter. Trilogy Capital Inc. increased its holdings in shares of CenterPoint Energy by 3.1% in the second quarter. Trilogy Capital Inc. now owns 38,638 shares of the utilities provider’s stock worth $741,000 after acquiring an additional 1,147 shares in the last quarter. Smith Graham & Co. Investment Advisors LP increased its holdings in shares of CenterPoint Energy by 0.4% in the second quarter. Smith Graham & Co. Investment Advisors LP now owns 225,239 shares of the utilities provider’s stock worth $4,205,000 after acquiring an additional 972 shares in the last quarter. Steel Peak Wealth Management LLC bought a new stake in shares of CenterPoint Energy in the second quarter worth about $285,000. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of CenterPoint Energy by 36.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 145,059 shares of the utilities provider’s stock worth $2,708,000 after acquiring an additional 39,000 shares in the last quarter. 75.66% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the company. Cfra increased their price target on CenterPoint Energy from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, May 7th. ValuEngine upgraded CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Friday, May 8th. Morgan Stanley reiterated a “hold” rating and set a $20.00 price objective on shares of CenterPoint Energy in a report on Monday, July 6th. Credit Suisse Group increased their price objective on CenterPoint Energy from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. Finally, Bank of America downgraded CenterPoint Energy from a “neutral” rating to an “underperform” rating and set a $18.00 price objective for the company. in a report on Friday, May 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $20.89.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, May 7th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.22. CenterPoint Energy had a positive return on equity of 15.75% and a negative net margin of 5.28%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period last year, the firm posted $0.46 earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. As a group, analysts expect that CenterPoint Energy, Inc. will post 1.28 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 20th will be given a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.16%. CenterPoint Energy’s payout ratio is 33.52%.
In other news, Director David J. Lesar purchased 11,110 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $18.05 per share, with a total value of $200,535.50. Following the acquisition, the director now owns 6,110 shares in the company, valued at approximately $110,285.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.13% 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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