CenterPoint Energy, Inc. (CNP) Shares Bought by Segment Wealth Management LLC
Segment Wealth Management LLC raised its position in CenterPoint Energy, Inc. (NYSE:CNP) by 2.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,872 shares of the utilities provider’s stock after purchasing an additional 2,655 shares during the quarter. Segment Wealth Management LLC’s holdings in CenterPoint Energy were worth $3,090,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AXA purchased a new stake in CenterPoint Energy in the first quarter valued at approximately $3,436,000. BlackRock Inc. raised its position in CenterPoint Energy by 1,521.6% in the first quarter. BlackRock Inc. now owns 39,034,890 shares of the utilities provider’s stock valued at $1,076,193,000 after purchasing an additional 36,627,665 shares during the period. Federated Investors Inc. PA raised its position in CenterPoint Energy by 160.1% in the second quarter. Federated Investors Inc. PA now owns 84,599 shares of the utilities provider’s stock valued at $2,316,000 after purchasing an additional 52,078 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in CenterPoint Energy by 508.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 66,425 shares of the utilities provider’s stock valued at $1,819,000 after purchasing an additional 55,513 shares during the period. Finally, MUFG Securities EMEA plc purchased a new stake in CenterPoint Energy in the second quarter valued at approximately $5,476,000. 76.87% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on CNP. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. J P Morgan Chase & Co began coverage on CenterPoint Energy in a research report on Thursday, June 29th. They set a “neutral” rating and a $29.00 price objective on the stock. BidaskClub raised CenterPoint Energy from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 23rd. Credit Suisse Group raised CenterPoint Energy from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $28.82 to $29.00 in a research report on Monday, August 14th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $29.00 price objective on shares of CenterPoint Energy in a research report on Monday, September 11th. Eight investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. CenterPoint Energy currently has a consensus rating of “Hold” and an average price target of $27.89.
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In other news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $27.66, for a total value of $27,660.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders sold 3,000 shares of company stock worth $85,500. Insiders own 0.20% of the company’s stock.
CenterPoint Energy, Inc. (NYSE CNP) traded down 0.484% during mid-day trading on Wednesday, hitting $29.825. The stock had a trading volume of 564,986 shares. The company has a 50 day moving average price of $29.40 and a 200-day moving average price of $28.30. The company has a market cap of $12.86 billion, a price-to-earnings ratio of 21.304 and a beta of 0.63. CenterPoint Energy, Inc. has a one year low of $21.83 and a one year high of $30.45.
CenterPoint Energy (NYSE:CNP) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, beating 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 quarter last year, the firm posted $0.17 EPS. The business’s revenue for the quarter was up 36.1% compared to the same quarter last year. Equities analysts expect that CenterPoint Energy, Inc. will post $1.34 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Wednesday, August 16th were paid a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Monday, August 14th. CenterPoint Energy’s dividend payout ratio is presently 76.98%.
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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