Los Angeles Capital Management & Equity Research Inc. raised its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 608,854 shares of the utilities provider’s stock after purchasing an additional 2,900 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in CenterPoint Energy were worth $16,835,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Braun Bostich & Associates Inc. lifted its holdings in CenterPoint Energy by 1,372.0% during the second quarter. Braun Bostich & Associates Inc. now owns 4,151 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 3,869 shares in the last quarter. Ropes Wealth Advisors LLC purchased a new position in CenterPoint Energy during the second quarter valued at approximately $130,000. Signet Financial Management LLC lifted its holdings in CenterPoint Energy by 649.6% during the second quarter. Signet Financial Management LLC now owns 5,322 shares of the utilities provider’s stock valued at $147,000 after purchasing an additional 4,612 shares in the last quarter. FNY Investment Advisers LLC lifted its holdings in CenterPoint Energy by 2,962.2% during the third quarter. FNY Investment Advisers LLC now owns 6,400 shares of the utilities provider’s stock valued at $176,000 after purchasing an additional 6,191 shares in the last quarter. Finally, UMB Bank N A MO purchased a new position in CenterPoint Energy during the third quarter valued at approximately $210,000. 67.52% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Scott M. Prochazka sold 4,000 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $27.09, for a total value of $108,360.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.22% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. ValuEngine cut shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 6th. Wells Fargo & Co reiterated a “buy” rating on shares of CenterPoint Energy in a research report on Friday. SunTrust Banks reiterated a “hold” rating and set a $30.00 price objective on shares of CenterPoint Energy in a research report on Monday, August 6th. Zacks Investment Research cut shares of CenterPoint Energy from a “buy” rating to a “sell” rating in a research report on Tuesday, October 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CenterPoint Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, October 9th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. CenterPoint Energy currently has an average rating of “Hold” and a consensus target price of $29.33.
CenterPoint Energy stock opened at $28.13 on Friday. The company has a market cap of $14.19 billion, a PE ratio of 20.53, a P/E/G ratio of 3.04 and a beta of 0.43. The company has a current ratio of 0.95, a quick ratio of 0.83 and a debt-to-equity ratio of 1.66. CenterPoint Energy, Inc. has a 1 year low of $24.81 and a 1 year high of $30.17.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, November 8th. The utilities provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). CenterPoint Energy had a return on equity of 10.73% and a net margin of 15.43%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts anticipate that CenterPoint Energy, Inc. will post 1.6 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 15th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.95%. The ex-dividend date is Wednesday, November 14th. CenterPoint Energy’s dividend 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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