PNC Financial Services Group Inc. cut its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 9.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,808 shares of the utilities provider’s stock after selling 11,120 shares during the period. PNC Financial Services Group Inc.’s holdings in CenterPoint Energy were worth $2,902,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Whittier Trust Co. grew its position in CenterPoint Energy by 2,745.0% during the second quarter. Whittier Trust Co. now owns 8,535 shares of the utilities provider’s stock valued at $218,000 after purchasing an additional 8,235 shares in the last quarter. Signition LP purchased a new position in CenterPoint Energy during the second quarter valued at approximately $246,000. Advisor Partners LLC purchased a new position in CenterPoint Energy during the second quarter valued at approximately $260,000. Oppenheimer & Co. Inc. grew its position in CenterPoint Energy by 18.9% during the second quarter. Oppenheimer & Co. Inc. now owns 11,129 shares of the utilities provider’s stock valued at $309,000 after purchasing an additional 1,771 shares in the last quarter. Finally, First Allied Advisory Services Inc. grew its position in CenterPoint Energy by 18.9% during the second quarter. First Allied Advisory Services Inc. now owns 11,719 shares of the utilities provider’s stock valued at $331,000 after purchasing an additional 1,865 shares in the last quarter. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

CNP stock opened at $28.78 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.95 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $12.33 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 3.14 and a beta of 0.45. CenterPoint Energy, Inc. has a 12 month low of $24.81 and a 12 month high of $30.34.

CenterPoint Energy (NYSE:CNP) last posted its earnings results on Friday, August 3rd. The utilities provider reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.02). The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. CenterPoint Energy had a return on equity of 10.73% and a net margin of 15.43%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 earnings per share. equities research analysts predict that CenterPoint Energy, Inc. will post 1.61 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 13th. Shareholders of record on Thursday, August 16th were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Wednesday, August 15th. CenterPoint Energy’s dividend payout ratio is 81.02%.

In other CenterPoint Energy news, CEO Scott M. Prochazka sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $27.57, for a total value of $110,280.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Milton Carroll sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $28.27, for a total transaction of $282,700.00. The disclosure for this sale can be found here. Insiders sold 18,000 shares of company stock valued at $504,940 over the last three months. Insiders own 0.22% of the company’s stock.

A number of research analysts recently commented on CNP shares. Zacks Investment Research raised shares of CenterPoint Energy from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Tuesday, June 12th. Bank of America raised shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 28th. ValuEngine raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Thursday, June 28th. SunTrust Banks reissued a “hold” rating and issued a $30.00 target price on shares of CenterPoint Energy in a research report on Monday, August 6th. Finally, JPMorgan Chase & Co. raised shares of CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 target price for the company in a research report on Wednesday, September 5th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $28.86.

CenterPoint Energy Company Profile

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.

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

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