Eagle Ridge Investment Management acquired a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,878 shares of the utilities provider’s stock, valued at approximately $201,000.
Other large investors have also added to or reduced their stakes in the company. IHT Wealth Management LLC bought a new position in shares of CenterPoint Energy during the 2nd quarter worth about $153,000. Paradigm Asset Management Co. LLC lifted its holdings in CenterPoint Energy by 2.2% during the 2nd 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 last quarter. Pinebridge Investments L.P. bought a new position in CenterPoint Energy during the 2nd quarter valued at about $154,000. Huntington National Bank lifted its holdings in CenterPoint Energy by 58.1% during the 2nd quarter. Huntington National Bank now owns 6,121 shares of the utilities provider’s stock valued at $168,000 after purchasing an additional 2,250 shares during the last quarter. Finally, CAPROCK Group Inc. bought a new position in CenterPoint Energy during the 3rd quarter valued at about $206,000. 78.44% of the stock is owned by institutional investors.
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In other news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $29.61, for a total value of $29,610.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 3,000 shares of company stock valued at $86,920 in the last three months. Company insiders own 0.20% of the company’s stock.
CNP has been the subject of several analyst reports. Zacks Investment Research downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Royal Bank Of Canada reissued a “hold” rating and set a $29.00 price target on shares of CenterPoint Energy in a report on Monday, September 11th. Credit Suisse Group raised shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $28.82 to $29.00 in a report on Monday, August 14th. BidaskClub downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, J P Morgan Chase & Co set a $30.00 price target on shares of CenterPoint Energy and gave the company a “hold” rating in a report on Thursday, October 12th. Nine research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $28.33.
CenterPoint Energy, Inc. (NYSE CNP) traded down 0.81% during midday trading on Monday, reaching $29.51. 271,695 shares of the company’s stock traded hands. The stock has a 50-day moving average of $29.52 and a 200 day moving average of $28.61. CenterPoint Energy, Inc. has a 52-week low of $21.91 and a 52-week high of $30.45. The company has a market cap of $12.72 billion, a P/E ratio of 21.08 and a beta of 0.62.
CenterPoint Energy (NYSE:CNP) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.07. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.98 billion. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. The business’s revenue for the quarter was up 36.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 earnings per share. On average, analysts anticipate that CenterPoint Energy, Inc. will post $1.33 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 16th will be issued a $0.2675 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 3.60%. CenterPoint Energy’s dividend payout ratio (DPR) is currently 76.98%.
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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