Bridgewater Associates LP reduced its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 91.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,349 shares of the utilities provider’s stock after selling 235,419 shares during the quarter. Bridgewater Associates LP’s holdings in CenterPoint Energy were worth $590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. GAM Holding AG grew its holdings in CenterPoint Energy by 95.4% during the 3rd quarter. GAM Holding AG now owns 48,944 shares of the utilities provider’s stock valued at $1,353,000 after buying an additional 23,899 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in CenterPoint Energy by 1,277.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 40,437 shares of the utilities provider’s stock valued at $1,118,000 after buying an additional 37,502 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in CenterPoint Energy by 9.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 4,199,185 shares of the utilities provider’s stock valued at $116,107,000 after buying an additional 350,563 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in CenterPoint Energy by 160.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 171,085 shares of the utilities provider’s stock valued at $4,731,000 after buying an additional 105,366 shares in the last quarter. Finally, GSA Capital Partners LLP grew its holdings in CenterPoint Energy by 338.6% during the 3rd quarter. GSA Capital Partners LLP now owns 454,646 shares of the utilities provider’s stock valued at $12,571,000 after buying an additional 350,989 shares in the last quarter. 79.72% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Scott M. Prochazka sold 4,000 shares of the firm’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $27.54, for a total value of $110,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.

CNP stock opened at $28.05 on Thursday. CenterPoint Energy, Inc. has a fifty-two week low of $24.81 and a fifty-two week high of $29.36. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $14.06 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 3.01 and a beta of 0.46.

CenterPoint Energy (NYSE:CNP) last posted its earnings results on Thursday, November 8th. The utilities provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). CenterPoint Energy had a net margin of 15.15% and a return on equity of 14.40%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts predict that CenterPoint Energy, Inc. will post 1.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 15th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Wednesday, November 14th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 81.02%.

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised shares of CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 price objective for the company in a report on Wednesday, September 5th. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “sell” rating in a report on Tuesday, October 9th. ValuEngine lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Barclays started coverage on shares of CenterPoint Energy in a report on Monday, October 22nd. They issued a “hold” rating and a $30.00 target price for the company. Finally, Wells Fargo & Co raised shares of CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a report on Monday, October 8th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $29.44.

ILLEGAL ACTIVITY NOTICE: This piece was first reported by Watch List News and is the property of of Watch List News. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright legislation. The correct version of this piece can be viewed at https://www.watchlistnews.com/centerpoint-energy-inc-cnp-shares-sold-by-bridgewater-associates-lp/2664056.html.

About CenterPoint Energy

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.

Featured Story: Inflation

Want to see what other hedge funds are holding CNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CenterPoint Energy, Inc. (NYSE:CNP).

Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.