Coann Capital LLC increased its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 9.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 498,622 shares of the utilities provider’s stock after acquiring an additional 41,745 shares during the quarter. CenterPoint Energy makes up about 9.6% of Coann Capital LLC’s investment portfolio, making the stock its 2nd largest position. Coann Capital LLC’s holdings in CenterPoint Energy were worth $11,294,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the business. MAI Capital Management increased its stake in CenterPoint Energy by 3.5% during the first quarter. MAI Capital Management now owns 12,246 shares of the utilities provider’s stock worth $277,000 after acquiring an additional 412 shares during the last quarter. Cadence Bank NA increased its stake in CenterPoint Energy by 2.9% during the first quarter. Cadence Bank NA now owns 16,083 shares of the utilities provider’s stock worth $364,000 after acquiring an additional 448 shares during the last quarter. Synovus Financial Corp grew its stake in shares of CenterPoint Energy by 3.4% in the fourth quarter. Synovus Financial Corp now owns 15,305 shares of the utilities provider’s stock valued at $331,000 after buying an additional 508 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of CenterPoint Energy by 52.6% in the first quarter. Rockefeller Capital Management L.P. now owns 1,569 shares of the utilities provider’s stock valued at $35,000 after buying an additional 541 shares in the last quarter. Finally, Usca Ria LLC grew its stake in shares of CenterPoint Energy by 1.7% in the first quarter. Usca Ria LLC now owns 34,012 shares of the utilities provider’s stock valued at $770,000 after buying an additional 557 shares in the last quarter. 89.02% of the stock is owned by institutional investors.
In other news, CEO David J. Lesar bought 50,000 shares of CenterPoint Energy stock in a transaction dated Thursday, May 13th. The stock was acquired at an average cost of $23.58 per share, with a total value of $1,179,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jason P. Wells bought 10,000 shares of CenterPoint Energy stock in a transaction dated Tuesday, May 11th. The stock was purchased at an average cost of $24.06 per share, with a total value of $240,600.00. The disclosure for this purchase can be found here. 0.12% of the stock is owned by insiders.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, May 6th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.09. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.28 billion. CenterPoint Energy had a return on equity of 16.59% and a net margin of 10.12%. During the same period in the previous year, the business earned $0.65 EPS. As a group, research analysts anticipate that CenterPoint Energy, Inc. will post 1.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 10th. Shareholders of record on Thursday, May 20th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Wednesday, May 19th. CenterPoint Energy’s dividend payout ratio (DPR) is 45.71%.
A number of brokerages have recently weighed in on CNP. Credit Suisse Group lifted their price objective on CenterPoint Energy from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, April 16th. Barclays lifted their price objective on CenterPoint Energy from $25.00 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 25th. TheStreet raised CenterPoint Energy from a “c” rating to a “b-” rating in a research note on Thursday, May 6th. Mizuho lifted their price objective on CenterPoint Energy from $25.50 to $27.00 and gave the company a “buy” rating in a research note on Thursday, May 13th. They noted that the move was a valuation call. Finally, Bank of America raised CenterPoint Energy from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Monday, May 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $24.90.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric, Natural Gas, and Midstream Investments segments. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as assets in the wholesale power market.
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