Nissay Asset Management Corp Japan ADV raised its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 10.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,227 shares of the utilities provider’s stock after acquiring an additional 5,036 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in CenterPoint Energy were worth $975,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. NuWave Investment Management LLC acquired a new position in CenterPoint Energy during the second quarter valued at approximately $26,000. Arden Trust Co bought a new position in CenterPoint Energy in the first quarter valued at approximately $35,000. Rockefeller Capital Management L.P. lifted its stake in CenterPoint Energy by 129.5% in the first quarter. Rockefeller Capital Management L.P. now owns 2,311 shares of the utilities provider’s stock valued at $36,000 after buying an additional 1,304 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in CenterPoint Energy by 135.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,528 shares of the utilities provider’s stock valued at $39,000 after buying an additional 1,454 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. bought a new stake in shares of CenterPoint Energy in the second quarter worth $45,000. Hedge funds and other institutional investors own 75.66% of the company’s stock.
In other news, Director David J. Lesar acquired 11,110 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $18.05 per share, with a total value of $200,535.50. Following the completion of the transaction, the director now directly owns 6,110 shares of the company’s stock, valued at approximately $110,285.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.22. CenterPoint Energy had a negative net margin of 5.28% and a positive return on equity of 15.75%. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the company posted $0.46 earnings per share. CenterPoint Energy’s revenue was down 2.8% compared to the same quarter last year. On average, analysts forecast that CenterPoint Energy, Inc. will post 1.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.60 annualized dividend and a yield of 3.16%. CenterPoint Energy’s dividend payout ratio is 33.52%.
CNP has been the topic of a number of research reports. Cfra boosted their price objective on shares of CenterPoint Energy from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Mizuho cut their price objective on shares of CenterPoint Energy from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Bank of America lowered shares of CenterPoint Energy from a “neutral” rating to an “underperform” rating and set a $18.00 price objective on the stock. in a research report on Friday, May 8th. JPMorgan Chase & Co. boosted their price objective on shares of CenterPoint Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Finally, Credit Suisse Group boosted their price objective on shares of CenterPoint Energy from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $20.89.
About CenterPoint Energy
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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