Oakbrook Investments LLC cut its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,714 shares of the utilities provider’s stock after selling 700 shares during the period. Oakbrook Investments LLC’s holdings in CenterPoint Energy were worth $708,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of CNP. Dimensional Fund Advisors LP raised its holdings in shares of CenterPoint Energy by 21.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,338,732 shares of the utilities provider’s stock valued at $37,789,000 after purchasing an additional 238,563 shares in the last quarter. Stifel Financial Corp grew its position in shares of CenterPoint Energy by 34.0% during the fourth quarter. Stifel Financial Corp now owns 123,869 shares of the utilities provider’s stock valued at $3,509,000 after purchasing an additional 31,407 shares in the last quarter. Geode Capital Management LLC grew its position in shares of CenterPoint Energy by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 7,131,126 shares of the utilities provider’s stock valued at $200,993,000 after purchasing an additional 550,475 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in shares of CenterPoint Energy by 3.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 72,820 shares of the utilities provider’s stock valued at $2,056,000 after purchasing an additional 2,524 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of CenterPoint Energy during the fourth quarter valued at about $1,348,000. 78.75% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on CNP. Credit Suisse Group set a $199.00 price objective on NextEra Energy and gave the company a “buy” rating in a research report on Monday, April 22nd. Goldman Sachs Group lowered LATAM Airlines Group from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $9.20 to $9.30 in a research report on Tuesday, July 2nd. Mizuho lowered Cypress Semiconductor from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $18.00 to $23.85 in a research report on Monday, June 3rd. Bank of America set a $10.00 price target on HEXO and gave the stock a “buy” rating in a research report on Thursday, June 13th. Finally, Morgan Stanley set a $18.00 target price on PG&E and gave the company a “hold” rating in a research report on Friday, June 14th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $31.69.
In related news, Chairman Milton Carroll sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $29.76, for a total value of $357,120.00. Following the completion of the transaction, the chairman now owns 98,301 shares of the company’s stock, valued at $2,925,437.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott M. Prochazka sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $30.90, for a total transaction of $216,300.00. The disclosure for this sale can be found here. Insiders have sold 52,780 shares of company stock valued at $1,558,486 in the last ninety days. Insiders own 0.24% of the company’s stock.
Shares of CenterPoint Energy stock traded up $0.01 on Tuesday, hitting $28.68. 256,855 shares of the company traded hands, compared to its average volume of 3,813,999. The company has a 50 day moving average of $29.11. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.97 and a current ratio of 1.09. CenterPoint Energy, Inc. has a 52 week low of $26.74 and a 52 week high of $31.42. The stock has a market cap of $14.41 billion, a P/E ratio of 17.93, a PEG ratio of 3.32 and a beta of 0.48.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Thursday, May 9th. The utilities provider reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.06). CenterPoint Energy had a net margin of 3.39% and a return on equity of 13.31%. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the prior year, the firm posted $0.55 EPS. The business’s revenue was up 11.9% on a year-over-year basis. On average, analysts forecast that CenterPoint Energy, Inc. will post 1.64 EPS for the current fiscal year.
About CenterPoint Energy
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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