Mainstay Capital Management LLC ADV boosted its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 2,671.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,313 shares of the utilities provider’s stock after buying an additional 8,013 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in CenterPoint Energy were worth $300,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of CNP. Braun Bostich & Associates Inc. grew its holdings in shares of 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 worth $115,000 after purchasing an additional 3,869 shares during the last quarter. Ropes Wealth Advisors LLC purchased a new position in shares of CenterPoint Energy during the second quarter worth about $130,000. Signet Financial Management LLC grew its holdings in shares of CenterPoint Energy by 649.6% during the second quarter. Signet Financial Management LLC now owns 5,322 shares of the utilities provider’s stock worth $147,000 after purchasing an additional 4,612 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of 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 purchasing an additional 8,235 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in shares of CenterPoint Energy by 55.9% during the second quarter. Qube Research & Technologies Ltd now owns 8,042 shares of the utilities provider’s stock worth $223,000 after purchasing an additional 2,882 shares during the last quarter. 77.27% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Milton Carroll sold 10,000 shares of the stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $28.27, for a total transaction of $282,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott M. Prochazka sold 4,000 shares of the stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $27.57, for a total transaction of $110,280.00. The disclosure for this sale can be found here. Insiders have sold 18,000 shares of company stock valued at $504,940 in the last quarter. Insiders own 0.22% of the company’s stock.
Several brokerages have issued reports on CNP. ValuEngine lowered CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Wednesday. JPMorgan Chase & Co. raised CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 price objective on the stock in a report on Wednesday, September 5th. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. SunTrust Banks reaffirmed a “hold” rating and set a $30.00 price objective on shares of CenterPoint Energy in a report on Monday, August 6th. Finally, Bank of America raised CenterPoint Energy from an “underperform” rating to a “neutral” rating in a report on Thursday, June 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $28.86.
Shares of CNP opened at $28.00 on Friday. CenterPoint Energy, Inc. has a fifty-two week low of $24.81 and a fifty-two week high of $30.17. The stock has a market cap of $12.04 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 3.06 and a beta of 0.45. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.95 and a quick ratio of 0.83.
CenterPoint Energy (NYSE:CNP) last announced its earnings results on Friday, August 3rd. The utilities provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 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 $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the company posted $0.29 EPS. CenterPoint Energy’s quarterly revenue was up 2.0% on a year-over-year basis. sell-side analysts anticipate that CenterPoint Energy, Inc. will post 1.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 13th. Stockholders of record on Thursday, August 16th were paid a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, August 15th. This represents a $1.11 annualized dividend and a dividend yield of 3.96%. CenterPoint Energy’s dividend payout ratio (DPR) 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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