EP Wealth Advisors LLC acquired a new stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 29,750 shares of the utilities provider’s stock, valued at approximately $815,000.
Other hedge funds also recently modified their holdings of the company. IHT Wealth Management LLC bought a new stake in CenterPoint Energy during the second quarter valued at about $153,000. Van ECK Associates Corp boosted its holdings in CenterPoint Energy by 18.0% in the first quarter. Van ECK Associates Corp now owns 3,695 shares of the utilities provider’s stock worth $102,000 after acquiring an additional 564 shares in the last quarter. Paradigm Asset Management Co. LLC boosted its holdings in CenterPoint Energy by 2.2% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock worth $126,000 after acquiring an additional 100 shares in the last quarter. Pinebridge Investments L.P. acquired a new stake in CenterPoint Energy in the second quarter worth about $154,000. Finally, Huntington National Bank boosted its holdings in CenterPoint Energy by 58.1% in the second quarter. Huntington National Bank now owns 6,121 shares of the utilities provider’s stock worth $168,000 after acquiring an additional 2,250 shares in the last quarter. 76.87% of the stock is currently owned by institutional investors.
In other news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $29.61, for a total value of $29,610.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 3,000 shares of company stock worth $86,920. Company insiders own 0.20% of the company’s stock.
CNP has been the subject of several recent analyst reports. BidaskClub raised CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. J P Morgan Chase & Co set a $30.00 price target on CenterPoint Energy and gave the stock a “hold” rating in a report on Thursday. SunTrust Banks, Inc. reissued a “hold” rating and issued a $30.00 price target on shares of CenterPoint Energy in a report on Monday, October 2nd. Royal Bank Of Canada reissued a “hold” rating and issued a $29.00 price target on shares of CenterPoint Energy in a report on Monday, September 11th. Finally, Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Eight analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $28.13.
Shares of CenterPoint Energy, Inc. (CNP) traded down 1.21% during midday trading on Friday, reaching $29.36. The company’s stock had a trading volume of 2,650,610 shares. The company has a market cap of $12.65 billion, a P/E ratio of 20.97 and a beta of 0.62. CenterPoint Energy, Inc. has a 12-month low of $21.91 and a 12-month high of $30.45. The stock’s 50-day moving average price is $29.55 and its 200-day moving average price is $28.49.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.07. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the business posted $0.17 EPS. The business’s revenue for the quarter was up 36.1% on a year-over-year basis. On average, analysts expect that CenterPoint Energy, Inc. will post $1.33 EPS for the current fiscal year.
About CenterPoint Energy
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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