CenterPoint Energy, Inc. (CNP) Shares Sold by Adell Harriman & Carpenter Inc.
Adell Harriman & Carpenter Inc. lowered its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 5.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,059 shares of the utilities provider’s stock after selling 2,300 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in CenterPoint Energy were worth $1,141,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in CNP. Paradigm Asset Management Co. LLC increased its stake in shares of CenterPoint Energy by 2.2% in the 2nd quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 100 shares in the last quarter. IHT Wealth Management LLC bought a new stake in shares of CenterPoint Energy in the 2nd quarter valued at $153,000. Pinebridge Investments L.P. bought a new stake in CenterPoint Energy during the 2nd quarter valued at $154,000. Huntington National Bank increased its stake in CenterPoint Energy by 58.1% during the 2nd quarter. Huntington National Bank now owns 6,121 shares of the utilities provider’s stock valued at $168,000 after purchasing an additional 2,250 shares in the last quarter. Finally, Eagle Ridge Investment Management bought a new stake in CenterPoint Energy during the 3rd quarter valued at $201,000. Institutional investors own 77.49% of the company’s stock.
CenterPoint Energy, Inc. (NYSE:CNP) traded up $0.22 on Tuesday, reaching $29.63. 2,215,800 shares of the company’s stock were exchanged, compared to its average volume of 2,836,091. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 2.08. The stock has a market cap of $12,676.70, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 4.07 and a beta of 0.64. CenterPoint Energy, Inc. has a 1 year low of $22.32 and a 1 year high of $30.45.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Friday, November 3rd. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.39. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.07 billion. CenterPoint Energy had a net margin of 6.59% and a return on equity of 16.00%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. sell-side analysts forecast that CenterPoint Energy, Inc. will post 1.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 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 3.61%. The ex-dividend date is Wednesday, November 15th. CenterPoint Energy’s dividend payout ratio is 78.10%.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of CenterPoint Energy stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $29.08, for a total transaction of $29,080.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 3,000 shares of company stock worth $88,300 over the last ninety days. Insiders own 0.20% of the company’s stock.
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A number of analysts have commented on CNP shares. BidaskClub upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. J P Morgan Chase & Co set a $30.00 price target on shares of CenterPoint Energy and gave the company a “hold” rating in a research note on Thursday, October 12th. SunTrust Banks, Inc. restated a “hold” rating and set a $30.00 price target on shares of CenterPoint Energy in a research note on Monday, October 2nd. Royal Bank Of Canada restated a “hold” rating and set a $29.00 price target on shares of CenterPoint Energy in a research note on Monday, September 11th. Finally, Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Nine equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $28.75.
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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