Venturi Wealth Management LLC Has $2.43 Million Stock Position in CenterPoint Energy, Inc. (NYSE:CNP)

Venturi Wealth Management LLC lowered its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 5.0% during the third quarter, HoldingsChannel.com reports. The firm owned 98,694 shares of the utilities provider’s stock after selling 5,170 shares during the period. Venturi Wealth Management LLC’s holdings in CenterPoint Energy were worth $2,428,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Samalin Investment Counsel LLC acquired a new stake in CenterPoint Energy during the 2nd quarter worth $37,000. Dark Forest Capital Management LP acquired a new stake in CenterPoint Energy during the 2nd quarter worth $48,000. Rockefeller Capital Management L.P. raised its stake in CenterPoint Energy by 94.5% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 3,052 shares of the utilities provider’s stock worth $74,000 after buying an additional 1,483 shares during the period. Field & Main Bank acquired a new stake in shares of CenterPoint Energy in the 3rd quarter valued at about $197,000. Finally, ERTS Wealth Advisors LLC acquired a new stake in shares of CenterPoint Energy in the 2nd quarter valued at about $204,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

CenterPoint Energy stock opened at $27.61 on Friday. CenterPoint Energy, Inc. has a 52 week low of $19.31 and a 52 week high of $28.36. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.58 and a current ratio of 1.71. The stock has a market capitalization of $17.36 billion, a P/E ratio of 18.16, a PEG ratio of 4.26 and a beta of 0.97. The stock has a 50-day simple moving average of $27.19 and a 200 day simple moving average of $26.22.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Thursday, November 4th. The utilities provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. CenterPoint Energy had a return on equity of 15.38% and a net margin of 12.75%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the company posted $0.34 earnings per share. Research analysts forecast that CenterPoint Energy, Inc. will post 1.55 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 10th. Investors of record on Thursday, February 17th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Wednesday, February 16th. CenterPoint Energy’s payout ratio is currently 44.74%.

Several analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on CenterPoint Energy in a research note on Friday, December 10th. They issued an “overweight” rating on the stock. Scotiabank assumed coverage on CenterPoint Energy in a research note on Wednesday, December 15th. They issued a “sector perform” rating and a $29.00 price target on the stock. Barclays raised CenterPoint Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $28.00 to $30.00 in a research note on Friday, October 1st. The Goldman Sachs Group downgraded CenterPoint Energy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $31.00 to $30.00 in a research note on Thursday. Finally, Zacks Investment Research cut CenterPoint Energy from a “buy” rating to a “hold” rating and set a $29.00 price objective for the company. in a report on Tuesday, December 7th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, CenterPoint Energy currently has an average rating of “Buy” and a consensus price target of $28.60.

In related news, Director Barry T. Smitherman sold 16,910 shares of CenterPoint Energy stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $26.50, for a total transaction of $448,115.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.12% of the company’s stock.

CenterPoint Energy Profile

CenterPoint Energy, Inc is a holding company, which engages in the business of power generation and distribution. It operates through the following segments: Houston Electric Transmission & Distribution (T&D); Indiana Electric Integrated; Natural Gas Distribution; Energy Services; Infrastructure Services; Midstream Investments; and Corporate and Other.

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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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