Murphy Capital Management Inc. decreased its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 95.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,422 shares of the utilities provider’s stock after selling 164,452 shares during the period. Murphy Capital Management Inc.’s holdings in CenterPoint Energy were worth $232,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. DnB Asset Management AS boosted its holdings in shares of CenterPoint Energy by 4.7% during the 2nd quarter. DnB Asset Management AS now owns 68,513 shares of the utilities provider’s stock valued at $1,898,000 after acquiring an additional 3,100 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of CenterPoint Energy by 33.4% during the 2nd quarter. IFM Investors Pty Ltd now owns 23,532 shares of the utilities provider’s stock valued at $652,000 after acquiring an additional 5,887 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of CenterPoint Energy during the 2nd quarter valued at $1,018,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of CenterPoint Energy by 48.6% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 249,687 shares of the utilities provider’s stock valued at $6,919,000 after acquiring an additional 81,698 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC boosted its holdings in shares of CenterPoint Energy by 27.2% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 22,000 shares of the utilities provider’s stock valued at $610,000 after acquiring an additional 4,700 shares in the last quarter. Institutional investors own 77.39% of the company’s stock.
CNP has been the topic of several recent research reports. ValuEngine raised CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. SunTrust Banks reissued a “hold” rating and set a $30.00 price objective on shares of CenterPoint Energy in a report on Monday, August 6th. JPMorgan Chase & Co. raised their price objective on CenterPoint Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Wells Fargo & Co raised CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a report on Monday, October 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. CenterPoint Energy presently has a consensus rating of “Hold” and an average target price of $29.25.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 4,000 shares of CenterPoint Energy stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $27.54, for a total transaction of $110,160.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Milton Carroll sold 10,000 shares of CenterPoint Energy stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $28.27, for a total value of $282,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 18,000 shares of company stock worth $504,820 over the last ninety days. Company insiders own 0.22% of the company’s stock.
Shares of CNP opened at $27.34 on Friday. The stock has a market cap of $11.93 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 2.92 and a beta of 0.44. CenterPoint Energy, Inc. has a 12 month low of $24.81 and a 12 month high of $30.17. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.95.
CenterPoint Energy (NYSE:CNP) last announced its earnings results on Friday, August 3rd. The utilities provider reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.02). The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. CenterPoint Energy had a return on equity of 10.73% and a net margin of 15.43%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.29 earnings per share. On average, equities research analysts forecast that CenterPoint Energy, Inc. will post 1.61 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 13th. Shareholders of record on Thursday, August 16th were issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 4.06%. The ex-dividend date was Wednesday, August 15th. CenterPoint Energy’s payout ratio is presently 81.02%.
CenterPoint Energy Company 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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