Piedmont Investment Advisors LLC boosted its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 1.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 244,234 shares of the utilities provider’s stock after buying an additional 4,590 shares during the quarter. Piedmont Investment Advisors LLC owned about 0.06% of CenterPoint Energy worth $7,134,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of CNP. Tortoise Investment Management LLC bought a new stake in CenterPoint Energy during the third quarter valued at about $120,000. Paradigm Asset Management Co. LLC boosted its holdings in CenterPoint Energy by 2.2% during the second quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 100 shares during the period. IHT Wealth Management LLC bought a new stake in CenterPoint Energy during the second quarter valued at about $153,000. Pinebridge Investments L.P. bought a new stake in CenterPoint Energy during the second quarter valued at about $154,000. Finally, Eagle Ridge Investment Management bought a new stake in CenterPoint Energy during the third quarter valued at about $201,000. 77.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have issued reports on CNP. Zacks Investment Research upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Tuesday. Guggenheim cut shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a report on Monday, December 4th. They noted that the move was a valuation call. Royal Bank of Canada restated a “hold” rating and set a $29.00 price target on shares of CenterPoint Energy in a report on Monday, September 11th. Bank of America began coverage on shares of CenterPoint Energy in a report on Tuesday, October 24th. They set a “neutral” rating and a $30.00 price target for the company. Finally, SunTrust Banks restated a “hold” rating and set a $30.00 price target on shares of CenterPoint Energy in a report on Monday, October 2nd. Eleven research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.89.
Shares of CenterPoint Energy, Inc. (NYSE:CNP) opened at $28.40 on Thursday. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.91 and a quick ratio of 0.77. CenterPoint Energy, Inc. has a one year low of $23.95 and a one year high of $30.45. The firm has a market cap of $12,232.73, a PE ratio of 21.66, a P/E/G ratio of 3.78 and a beta of 0.62.
CenterPoint Energy (NYSE:CNP) last released its earnings results on Friday, November 3rd. The utilities provider reported $0.39 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. CenterPoint Energy had a net margin of 6.59% and a return on equity of 16.00%. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter last year, the company earned $0.41 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. research analysts forecast that CenterPoint Energy, Inc. will post 1.31 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Thursday, February 15th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 3.91%. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.27. CenterPoint Energy’s dividend payout ratio (DPR) is presently 78.10%.
In related news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $29.39, for a total value of $29,390.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 3,000 shares of company stock valued at $88,080. 0.20% of the stock is owned by corporate insiders.
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CenterPoint Energy Profile
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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