Advisors Asset Management Inc. Reduces Position in CenterPoint Energy, Inc. (CNP)
Advisors Asset Management Inc. reduced its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 43.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,115 shares of the utilities provider’s stock after selling 237,536 shares during the quarter. Advisors Asset Management Inc. owned 0.07% of CenterPoint Energy worth $9,205,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. WINTON GROUP Ltd acquired a new stake in shares of CenterPoint Energy during the second quarter valued at approximately $678,000. Shell Asset Management Co. raised its holdings in shares of CenterPoint Energy by 196.2% during the third quarter. Shell Asset Management Co. now owns 61,861 shares of the utilities provider’s stock valued at $1,514,000 after acquiring an additional 40,976 shares during the period. Federated Investors Inc. PA raised its holdings in shares of CenterPoint Energy by 160.1% during the second quarter. Federated Investors Inc. PA now owns 84,599 shares of the utilities provider’s stock valued at $2,316,000 after acquiring an additional 52,078 shares during the period. MUFG Securities EMEA plc acquired a new stake in shares of CenterPoint Energy during the second quarter valued at approximately $5,476,000. Finally, Toronto Dominion Bank raised its holdings in shares of CenterPoint Energy by 25.6% during the second quarter. Toronto Dominion Bank now owns 145,724 shares of the utilities provider’s stock valued at $3,989,000 after acquiring an additional 29,740 shares during the period. Institutional investors and hedge funds own 77.49% of the company’s stock.
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In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $29.08, for a total value of $29,080.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders sold 3,000 shares of company stock worth $88,300. Company insiders own 0.20% of the company’s stock.
CenterPoint Energy, Inc. (CNP) traded down $0.03 during trading on Friday, reaching $29.00. 2,775,142 shares of the company’s stock traded hands, compared to its average volume of 2,840,485. The firm has a market cap of $12,510.00, a price-to-earnings ratio of 22.86, a PEG ratio of 4.14 and a beta of 0.64. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 2.08. CenterPoint Energy, Inc. has a 1 year low of $23.24 and a 1 year high of $30.45.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Friday, November 3rd. The utilities provider reported $0.39 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.07 billion. CenterPoint Energy had a net margin of 6.59% and a return on equity of 16.00%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. research analysts expect that CenterPoint Energy, Inc. will post 1.31 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 16th will be paid a $0.2675 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.07 annualized dividend and a yield of 3.69%. CenterPoint Energy’s dividend payout ratio is presently 77.54%.
A number of equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Royal Bank Of Canada restated a “hold” rating and set a $29.00 price target on shares of CenterPoint Energy in a report on Monday, September 11th. Credit Suisse Group upgraded shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $28.82 to $29.00 in a report on Monday, August 14th. Bank of America Corporation assumed coverage on shares of CenterPoint Energy in a report on Tuesday, October 24th. They set a “neutral” rating and a $30.00 price target on the stock. Finally, Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Nine analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $28.75.
CenterPoint Energy Profile
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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