Fmr LLC lowered its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 48.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,018,035 shares of the utilities provider’s stock after selling 2,893,459 shares during the period. Fmr LLC owned about 0.70% of CenterPoint Energy worth $83,630,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Whittier Trust Co. raised its position in CenterPoint Energy by 2,745.0% during the second quarter. Whittier Trust Co. now owns 8,535 shares of the utilities provider’s stock worth $218,000 after acquiring an additional 8,235 shares during the last quarter. Signition LP acquired a new position in shares of CenterPoint Energy in the second quarter valued at approximately $246,000. Advisor Partners LLC acquired a new position in shares of CenterPoint Energy in the second quarter valued at approximately $260,000. Cornerstone Wealth Management LLC acquired a new position in shares of CenterPoint Energy in the second quarter valued at approximately $349,000. Finally, Oppenheimer & Co. Inc. raised its position in shares of CenterPoint Energy by 18.9% in the second quarter. Oppenheimer & Co. Inc. now owns 11,129 shares of the utilities provider’s stock valued at $309,000 after buying an additional 1,771 shares during the last quarter. Institutional investors own 77.27% of the company’s stock.
In related news, CEO Scott M. Prochazka sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $27.99, for a total value of $111,960.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Milton Carroll sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $28.27, for a total transaction of $282,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,000 shares of company stock valued at $504,940. 0.22% of the stock is owned by insiders.
A number of research firms have recently weighed in on CNP. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Monday, June 25th. ValuEngine lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Wednesday. Bank of America raised shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 28th. JPMorgan Chase & Co. raised shares of CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 price objective for the company in a research report on Wednesday, September 5th. Finally, SunTrust Banks reissued a “hold” rating and issued a $30.00 price objective on shares of CenterPoint Energy in a research report on Monday, August 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. CenterPoint Energy presently has a consensus rating of “Hold” and a consensus price target of $28.86.
NYSE:CNP opened at $27.91 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.95 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $12.34 billion, a PE ratio of 18.33, a PEG ratio of 3.14 and a beta of 0.45. CenterPoint Energy, Inc. has a 1-year low of $24.81 and a 1-year high of $30.17.
CenterPoint Energy (NYSE:CNP) last released its earnings results on Friday, August 3rd. The utilities provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). CenterPoint Energy had a net margin of 15.43% and a return on equity of 10.73%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the firm posted $0.29 earnings per share. CenterPoint Energy’s revenue for the quarter was up 2.0% compared to the same quarter last year. research analysts anticipate that CenterPoint Energy, Inc. will post 1.61 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 13th. Investors of record on Thursday, August 16th were issued a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, August 15th. This represents a $1.11 dividend on an annualized basis and a yield of 3.98%. CenterPoint Energy’s payout ratio is 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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