Commonwealth Equity Services LLC grew its position in CenterPoint Energy, Inc. (NYSE:CNP) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 136,523 shares of the utilities provider’s stock after purchasing an additional 972 shares during the period. Commonwealth Equity Services LLC’s holdings in CenterPoint Energy were worth $4,120,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Commonwealth Bank of Australia lifted its position in CenterPoint Energy by 6,371.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 7,309,813 shares of the utilities provider’s stock worth $209,268,000 after buying an additional 7,196,865 shares in the last quarter. Zimmer Partners LP acquired a new position in CenterPoint Energy during the 2nd quarter worth about $138,386,000. Cohen & Steers Inc. lifted its position in CenterPoint Energy by 6,123.3% during the 2nd quarter. Cohen & Steers Inc. now owns 3,836,236 shares of the utilities provider’s stock worth $109,831,000 after buying an additional 3,774,593 shares in the last quarter. Unigestion Holding SA raised its holdings in CenterPoint Energy by 331.7% during the 2nd quarter. Unigestion Holding SA now owns 3,052,431 shares of the utilities provider’s stock worth $87,391,000 after purchasing an additional 2,345,348 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in CenterPoint Energy by 96.7% during the 2nd quarter. Renaissance Technologies LLC now owns 4,486,500 shares of the utilities provider’s stock worth $128,448,000 after purchasing an additional 2,205,900 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.
Several analysts have weighed in on the company. Stifel Nicolaus raised CenterPoint Energy from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $30.00 to $32.00 in a report on Friday, September 6th. UBS Group dropped their price objective on CenterPoint Energy from $35.00 to $34.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Barclays raised CenterPoint Energy from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $33.00 to $31.00 in a report on Tuesday, August 13th. Wells Fargo & Co dropped their price objective on CenterPoint Energy from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, September 18th. Finally, Zacks Investment Research cut CenterPoint Energy from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a report on Monday, October 14th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. CenterPoint Energy presently has a consensus rating of “Buy” and a consensus price target of $31.79.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.10. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.91 billion. CenterPoint Energy had a return on equity of 13.59% and a net margin of 5.55%. The business’s revenue was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 EPS. On average, analysts predict that CenterPoint Energy, Inc. will post 1.63 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Wednesday, November 20th. CenterPoint Energy’s payout ratio is presently 71.88%.
In other news, CEO Scott M. Prochazka sold 7,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $30.06, for a total value of $210,420.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 21,000 shares of company stock valued at $608,440. 0.24% of the stock is currently 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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