Gs Investments Inc. purchased a new stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 23,075 shares of the utilities provider’s stock, valued at approximately $632,000.
Other large investors also recently added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC grew its holdings in CenterPoint Energy by 2.2% during the second quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 100 shares during the period. IHT Wealth Management LLC purchased a new position in shares of CenterPoint Energy in the second quarter valued at about $153,000. Pinebridge Investments L.P. purchased a new position in shares of CenterPoint Energy in the second quarter valued at about $154,000. Huntington National Bank lifted its position in shares of CenterPoint Energy by 58.1% in the second quarter. Huntington National Bank now owns 6,121 shares of the utilities provider’s stock valued at $168,000 after acquiring an additional 2,250 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of CenterPoint Energy by 13.2% in the second quarter. D.A. Davidson & CO. now owns 7,421 shares of the utilities provider’s stock valued at $203,000 after acquiring an additional 864 shares in the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $29.08, for a total transaction of $29,080.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 3,000 shares of company stock worth $86,920 over the last 90 days. Insiders own 0.20% of the company’s stock.
CNP has been the topic of several research analyst reports. BidaskClub upgraded CenterPoint Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. J P Morgan Chase & Co set a $30.00 price objective on CenterPoint Energy and gave the company a “hold” rating in a research report on Thursday, October 12th. SunTrust Banks, Inc. restated a “hold” rating and issued a $30.00 price objective on shares of CenterPoint Energy in a research report on Monday, October 2nd. Royal Bank Of Canada restated a “hold” rating and issued a $29.00 price objective on shares of CenterPoint Energy in a research report on Monday, September 11th. Finally, Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Eight equities research 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. The stock presently has an average rating of “Hold” and an average price target of $28.13.
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Shares of CenterPoint Energy, Inc. (NYSE:CNP) traded down 0.151% during trading on Friday, hitting $29.705. The stock had a trading volume of 300,708 shares. The firm has a 50 day moving average price of $29.53 and a 200 day moving average price of $28.54. The firm has a market cap of $12.80 billion, a P/E ratio of 21.218 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.
CenterPoint Energy (NYSE:CNP) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.07. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the firm earned $0.17 EPS. The company’s quarterly revenue was up 36.1% on a year-over-year basis. On average, equities analysts expect that CenterPoint Energy, Inc. will post $1.33 earnings per share for the current fiscal year.
CenterPoint Energy Profile
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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