CenterPoint Energy, Inc. (CNP) Position Decreased by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado cut its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 81,133 shares of the utilities provider’s stock after selling 113 shares during the period. Public Employees Retirement Association of Colorado’s holdings in CenterPoint Energy were worth $2,221,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of CNP. Van ECK Associates Corp boosted its stake in CenterPoint Energy by 18.0% in the first quarter. Van ECK Associates Corp now owns 3,695 shares of the utilities provider’s stock valued at $102,000 after buying an additional 564 shares in the last quarter. Johnson Financial Group Inc. boosted its stake in CenterPoint Energy by 28.8% in the first quarter. Johnson Financial Group Inc. now owns 4,843 shares of the utilities provider’s stock valued at $134,000 after buying an additional 1,084 shares in the last quarter. Huntington National Bank boosted its stake in CenterPoint Energy by 58.1% in the second quarter. Huntington National Bank now owns 6,121 shares of the utilities provider’s stock valued at $168,000 after buying an additional 2,250 shares in the last quarter. Mirador Capital Partners LP acquired a new stake in CenterPoint Energy during the first quarter valued at approximately $200,000. Finally, Usca Ria LLC acquired a new stake in CenterPoint Energy during the first quarter valued at approximately $204,000. 77.16% of the stock is owned by institutional investors and hedge funds.
CenterPoint Energy, Inc. (CNP) opened at 29.06 on Thursday. The company’s 50-day moving average price is $27.95 and its 200 day moving average price is $27.65. CenterPoint Energy, Inc. has a one year low of $21.83 and a one year high of $29.45. The firm has a market capitalization of $12.52 billion, a PE ratio of 26.91 and a beta of 0.64.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.07. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the business posted $0.17 earnings per share. CenterPoint Energy’s revenue for the quarter was up 36.1% compared to the same quarter last year. On average, analysts forecast that CenterPoint Energy, Inc. will post $1.32 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Wednesday, August 16th will be paid a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Monday, August 14th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 76.98%.
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Several analysts have recently commented on the company. BidaskClub cut CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. J P Morgan Chase & Co assumed coverage on CenterPoint Energy in a report on Thursday, June 29th. They issued a “neutral” rating and a $29.00 price target for the company. Finally, Zacks Investment Research cut CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $27.33.
In other news, CEO Scott M. Prochazka sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $28.23, for a total value of $28,230.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 3,000 shares of company stock worth $84,560 over the last ninety days. 0.20% of the stock is currently owned by company insiders.
About CenterPoint Energy
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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