Vanguard Group Inc. Acquires 3,051,778 Shares of CenterPoint Energy Inc. (CNP)
Vanguard Group Inc. raised its stake in shares of CenterPoint Energy Inc. (NYSE:CNP) by 8.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,770,130 shares of the company’s stock after buying an additional 3,051,778 shares during the period. Vanguard Group Inc. owned approximately 9.47% of CenterPoint Energy worth $978,482,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. increased its position in shares of CenterPoint Energy by 0.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 55,140 shares of the company’s stock worth $1,012,000 after buying an additional 300 shares during the period. Norges Bank purchased a new position in shares of CenterPoint Energy during the fourth quarter worth $42,628,000. Chevy Chase Trust Holdings Inc. increased its position in shares of CenterPoint Energy by 4.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 370,254 shares of the company’s stock worth $7,745,000 after buying an additional 15,454 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of CenterPoint Energy by 7.2% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 96,146 shares of the company’s stock worth $2,011,000 after buying an additional 6,432 shares during the period. Finally, Exxonmobil Investment Management Inc. TX increased its position in shares of CenterPoint Energy by 8.6% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 104,761 shares of the company’s stock worth $2,192,000 after buying an additional 8,321 shares during the period. 77.05% of the stock is currently owned by institutional investors.
CenterPoint Energy Inc. (NYSE:CNP) traded up 1.020% during mid-day trading on Thursday, hitting $24.265. 274,856 shares of the stock traded hands. CenterPoint Energy Inc. has a 12-month low of $16.05 and a 12-month high of $24.71. The firm’s 50-day moving average is $22.82 and its 200-day moving average is $22.37. The company’s market cap is $10.45 billion.
CenterPoint Energy (NYSE:CNP) last issued its earnings results on Friday, August 5th. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The firm earned $1.57 billion during the quarter, compared to analysts’ expectations of $1.62 billion. CenterPoint Energy had a negative net margin of 10.72% and a positive return on equity of 13.48%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. Equities research analysts expect that CenterPoint Energy Inc. will post $1.15 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Tuesday, August 16th were issued a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Friday, August 12th. CenterPoint Energy’s payout ratio is -59.20%.
Several research analysts recently weighed in on CNP shares. Evercore ISI started coverage on shares of CenterPoint Energy in a research report on Monday, September 12th. They set a “hold” rating for the company. Wells Fargo & Co. downgraded shares of CenterPoint Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 22nd. Argus restated a “buy” rating on shares of CenterPoint Energy in a research report on Wednesday, June 8th. Zacks Investment Research downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Finally, Deutsche Bank AG reduced their price target on shares of CenterPoint Energy from $24.50 to $24.00 and set a “hold” rating for the company in a research report on Monday, August 8th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $22.57.
About CenterPoint Energy
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.
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