Welch Group LLC Takes $148,000 Position in CenterPoint Energy, Inc. (CNP)

Welch Group LLC acquired a new stake in CenterPoint Energy, Inc. (NYSE:CNP) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 5,231 shares of the utilities provider’s stock, valued at approximately $148,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in CenterPoint Energy by 6.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 9,550,152 shares of the utilities provider’s stock valued at $278,959,000 after buying an additional 611,608 shares during the last quarter. APG Asset Management N.V. increased its stake in CenterPoint Energy by 24.3% in the 4th quarter. APG Asset Management N.V. now owns 8,968,519 shares of the utilities provider’s stock valued at $211,815,000 after buying an additional 1,754,009 shares during the last quarter. JPMorgan Chase & Co. increased its stake in CenterPoint Energy by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,583,166 shares of the utilities provider’s stock valued at $250,198,000 after buying an additional 554,719 shares during the last quarter. Janus Henderson Group PLC increased its stake in CenterPoint Energy by 3.1% in the 3rd quarter. Janus Henderson Group PLC now owns 4,693,486 shares of the utilities provider’s stock valued at $137,096,000 after buying an additional 143,291 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in CenterPoint Energy by 145.5% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 4,350,657 shares of the utilities provider’s stock valued at $127,083,000 after buying an additional 2,578,527 shares during the last quarter. 77.50% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Scott M. Prochazka sold 1,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $28.11, for a total transaction of $28,110.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.20% of the stock is owned by insiders.

CNP has been the topic of several recent research reports. SunTrust Banks reiterated a “hold” rating and issued a $28.00 price target on shares of CenterPoint Energy in a research note on Tuesday, December 26th. Zacks Investment Research upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Citigroup boosted their price objective on shares of CenterPoint Energy from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, November 20th. JPMorgan Chase & Co. set a $30.00 price objective on shares of CenterPoint Energy and gave the stock a “hold” rating in a research note on Thursday, October 12th. Finally, Guggenheim lowered shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $29.33.

CenterPoint Energy, Inc. (CNP) opened at $27.72 on Friday. The firm has a market cap of $12,146.52 and a PE ratio of 21.51. CenterPoint Energy, Inc. has a 52 week low of $25.51 and a 52 week high of $30.45. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.77 and a current ratio of 0.91.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Friday, November 3rd. The utilities provider reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.07 billion. CenterPoint Energy had a net margin of 6.59% and a return on equity of 16.00%. CenterPoint Energy’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 EPS. research analysts predict that CenterPoint Energy, Inc. will post 1.32 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.27. This represents a $1.11 annualized dividend and a dividend yield of 4.00%. CenterPoint Energy’s payout ratio is currently 78.10%.

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CenterPoint Energy Company 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.

Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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