Sound Income Strategies LLC boosted its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 793.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,126 shares of the utilities provider’s stock after buying an additional 1,000 shares during the period. Sound Income Strategies LLC’s holdings in CenterPoint Energy were worth $32,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in CenterPoint Energy by 5.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 38,624 shares of the utilities provider’s stock worth $1,070,000 after buying an additional 1,989 shares during the period. Zacks Investment Management lifted its holdings in shares of CenterPoint Energy by 5.1% during the second quarter. Zacks Investment Management now owns 43,053 shares of the utilities provider’s stock valued at $1,193,000 after purchasing an additional 2,090 shares during the last quarter. Bank of Hawaii lifted its holdings in shares of CenterPoint Energy by 24.5% during the third quarter. Bank of Hawaii now owns 10,865 shares of the utilities provider’s stock valued at $300,000 after purchasing an additional 2,140 shares during the last quarter. Signition LP lifted its holdings in shares of CenterPoint Energy by 24.1% during the third quarter. Signition LP now owns 11,007 shares of the utilities provider’s stock valued at $304,000 after purchasing an additional 2,141 shares during the last quarter. Finally, Krueger & Catalano Capital Partners LLC lifted its holdings in shares of CenterPoint Energy by 7.3% during the third quarter. Krueger & Catalano Capital Partners LLC now owns 32,124 shares of the utilities provider’s stock valued at $888,000 after purchasing an additional 2,174 shares during the last quarter. Institutional investors and hedge funds own 79.37% of the company’s stock.
Several research firms have recently issued reports on CNP. Wells Fargo & Co reiterated a “buy” rating on shares of CenterPoint Energy in a report on Friday, November 9th. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “sell” rating in a report on Tuesday, October 9th. Guggenheim upgraded shares of CenterPoint Energy from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. Barclays set a $31.00 target price on shares of CenterPoint Energy and gave the company a “hold” rating in a report on Saturday, November 17th. Finally, UBS Group upgraded shares of CenterPoint Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $30.00 to $34.00 in a report on Thursday, December 13th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $30.10.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, November 8th. The utilities provider reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.26 billion. CenterPoint Energy had a net margin of 15.15% and a return on equity of 14.40%. CenterPoint Energy’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. On average, sell-side analysts anticipate that CenterPoint Energy, Inc. will post 1.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 21st will be given a dividend of $0.2875 per share. The ex-dividend date of this dividend is Wednesday, February 20th. This represents a $1.15 annualized dividend and a dividend yield of 3.91%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.28. CenterPoint Energy’s dividend payout ratio (DPR) is 81.02%.
In related news, CEO Scott M. Prochazka sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $28.17, for a total transaction of $112,680.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 12,000 shares of company stock valued at $332,520 in the last three months. 0.22% of the stock is owned by insiders.
CenterPoint Energy Profile
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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