Chicago Equity Partners LLC Increases Stake in CenterPoint Energy, Inc. (CNP)
Chicago Equity Partners LLC raised its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 274.7% during the third quarter, Holdings Channel reports. The firm owned 77,695 shares of the company’s stock after buying an additional 56,960 shares during the period. Chicago Equity Partners LLC’s holdings in CenterPoint Energy were worth $1,805,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Advisory Services Network LLC increased its position in CenterPoint Energy by 228.5% in the second quarter. Advisory Services Network LLC now owns 5,145 shares of the company’s stock valued at $123,000 after buying an additional 3,579 shares during the period. Washington Trust Bank increased its position in CenterPoint Energy by 1.7% in the third quarter. Washington Trust Bank now owns 5,474 shares of the company’s stock valued at $127,000 after buying an additional 90 shares during the period. Pacer Advisors Inc. increased its position in CenterPoint Energy by 10.4% in the second quarter. Pacer Advisors Inc. now owns 7,293 shares of the company’s stock valued at $175,000 after buying an additional 685 shares during the period. Shinko Asset Management Co. Ltd. increased its position in CenterPoint Energy by 618.5% in the third quarter. Shinko Asset Management Co. Ltd. now owns 8,248 shares of the company’s stock valued at $192,000 after buying an additional 7,100 shares during the period. Finally, IFC Holdings Incorporated FL acquired a new position in CenterPoint Energy during the second quarter valued at approximately $209,000. Institutional investors and hedge funds own 73.55% of the company’s stock.
Shares of CenterPoint Energy, Inc. (NYSE:CNP) opened at 25.42 on Friday. The stock has a 50 day moving average of $24.52 and a 200-day moving average of $23.48. CenterPoint Energy, Inc. has a one year low of $16.38 and a one year high of $25.47. The stock’s market capitalization is $10.95 billion.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Friday, November 4th. The company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.04. The business earned $1.89 billion during the quarter, compared to analyst estimates of $1.98 billion. CenterPoint Energy had a negative net margin of 2.46% and a positive return on equity of 15.00%. The business’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the business earned $0.34 EPS. Equities analysts predict that CenterPoint Energy, Inc. will post $1.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Thursday, February 16th will be issued a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a yield of 4.21%. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Tuesday, February 14th. CenterPoint Energy’s dividend payout ratio (DPR) is presently -245.24%.
Several equities analysts have commented on the stock. TheStreet upgraded shares of CenterPoint Energy to a “buy” rating in a research note on Tuesday. Barclays PLC reaffirmed a “hold” rating and set a $27.00 price objective on shares of CenterPoint Energy in a research report on Monday, January 9th. SunTrust Banks, Inc. lifted their price objective on shares of CenterPoint Energy from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Monday, September 26th. Credit Suisse Group cut shares of CenterPoint Energy from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $24.00 to $25.00 in a research report on Tuesday, November 8th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Monday, January 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $24.20.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc is a public utility holding company. The Company’s segments include Electric Transmission & Distribution, Natural Gas Distribution, Energy Services, Midstream Investments and Other Operations. Its Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
Want to see what other hedge funds are holding CNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CenterPoint Energy, Inc. (NYSE:CNP).
Receive News & Ratings for CenterPoint Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.