Steward Partners Investment Advisory LLC acquired a new stake in CenterPoint Energy, Inc. (NYSE:CNP) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,794 shares of the utilities provider’s stock, valued at approximately $578,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Carnegie Capital Asset Management LLC raised its stake in CenterPoint Energy by 0.3% during the 2nd quarter. Carnegie Capital Asset Management LLC now owns 12,513 shares of the utilities provider’s stock worth $353,000 after acquiring an additional 39 shares in the last quarter. Paradigm Asset Management Co. LLC raised its stake in CenterPoint Energy by 2.2% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock worth $126,000 after acquiring an additional 100 shares in the last quarter. IHT Wealth Management LLC acquired a new stake in CenterPoint Energy during the 2nd quarter worth $153,000. Veritable L.P. raised its stake in CenterPoint Energy by 2.9% during the 2nd quarter. Veritable L.P. now owns 11,989 shares of the utilities provider’s stock worth $328,000 after acquiring an additional 342 shares in the last quarter. Finally, Sentry Investment Management LLC raised its stake in CenterPoint Energy by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 33,735 shares of the utilities provider’s stock worth $924,000 after acquiring an additional 351 shares in the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.
CNP has been the topic of several research analyst reports. BidaskClub upgraded shares of CenterPoint Energy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Royal Bank of Canada reiterated a “hold” rating and set a $29.00 price target on shares of CenterPoint Energy in a research note on Monday, September 11th. SunTrust Banks restated a “hold” rating and issued a $30.00 price objective on shares of CenterPoint Energy in a research note on Monday, October 2nd. J P Morgan Chase & Co set a $30.00 price objective on shares of CenterPoint Energy and gave the company a “hold” rating in a research note on Thursday, October 12th. Finally, Bank of America assumed coverage on shares of CenterPoint Energy in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $30.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.89.
CenterPoint Energy, Inc. (NYSE CNP) opened at $28.80 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 2.08. The company has a market cap of $12,409.47, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 3.84 and a beta of 0.62. CenterPoint Energy, Inc. has a one year low of $24.13 and a one year high of $30.45.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Friday, November 3rd. The utilities provider reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.07 billion. CenterPoint Energy had a net margin of 6.59% and a return on equity of 16.00%. CenterPoint Energy’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 earnings per share. equities research analysts anticipate that CenterPoint Energy, Inc. will post 1.31 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a $0.2775 dividend. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.11 annualized dividend and a dividend yield of 3.85%. CenterPoint Energy’s payout ratio is presently 78.10%.
In other news, CEO Scott M. Prochazka sold 1,000 shares of CenterPoint Energy stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $29.08, for a total value of $29,080.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 3,000 shares of company stock worth $88,080. Insiders own 0.20% of the company’s stock.
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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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