Bank of New York Mellon Corp decreased its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,484,390 shares of the utilities provider’s stock after selling 168,288 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.04% of CenterPoint Energy worth $124,262,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of CNP. Braun Bostich & Associates Inc. boosted its position 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 bought a new stake in CenterPoint Energy during the second quarter valued at about $130,000. Signet Financial Management LLC boosted its position 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. Whittier Trust Co. boosted 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 valued at $218,000 after purchasing an additional 8,235 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in CenterPoint Energy by 55.9% during the second quarter. Qube Research & Technologies Ltd now owns 8,042 shares of the utilities provider’s stock valued at $223,000 after purchasing an additional 2,882 shares in the last quarter. 67.52% of the stock is currently owned by institutional investors and hedge funds.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 4,000 shares of the stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $27.09, for a total value of $108,360.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.
A number of equities research analysts recently weighed in on the company. ValuEngine raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. JPMorgan Chase & Co. raised their price objective on CenterPoint Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, October 9th. Barclays assumed coverage on CenterPoint Energy in a research report on Monday, October 22nd. They set a “hold” rating and a $30.00 price objective on the stock. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $30.00 price objective on shares of CenterPoint Energy in a research report on Monday, August 6th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $29.33.
CenterPoint Energy stock opened at $27.80 on Wednesday. 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, Inc. has a one year low of $24.81 and a one year high of $30.17. The stock has a market capitalization of $13.51 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 2.90 and a beta of 0.43.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 15th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Wednesday, November 14th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 81.02%.
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CenterPoint Energy 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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