CenterPoint Energy, Inc. (CNP) Stake Increased by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board increased its position in CenterPoint Energy, Inc. (NYSE:CNP) by 17.5% during the second quarter, Holdings Channel reports. The firm owned 1,729,341 shares of the utilities provider’s stock after buying an additional 257,300 shares during the period. Canada Pension Plan Investment Board’s holdings in CenterPoint Energy were worth $47,349,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. AXA bought a new stake in shares of CenterPoint Energy during the first quarter worth about $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 buying an additional 36,627,665 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in CenterPoint Energy by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 10,912 shares of the utilities provider’s stock valued at $281,000 after buying an additional 529 shares during the last quarter. Sawtooth Solutions LLC raised its position in CenterPoint Energy by 13.1% in the first quarter. Sawtooth Solutions LLC now owns 10,003 shares of the utilities provider’s stock valued at $276,000 after buying an additional 1,162 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in CenterPoint Energy by 647.6% in the first quarter. BNP Paribas Arbitrage SA now owns 762,017 shares of the utilities provider’s stock valued at $21,009,000 after buying an additional 660,085 shares during the last quarter. 77.16% of the stock is currently owned by institutional investors.
CenterPoint Energy, Inc. (NYSE CNP) opened at 29.13 on Friday. The firm has a 50-day moving average price of $27.98 and a 200-day moving average price of $27.66. The stock has a market cap of $12.56 billion, a P/E ratio of 20.81 and a beta of 0.64. CenterPoint Energy, Inc. has a 52 week low of $21.83 and a 52 week high of $29.45.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.07. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.98 billion. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The firm’s revenue was up 36.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. On average, equities research analysts predict that CenterPoint Energy, Inc. will post $1.33 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 16th will be paid a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Monday, August 14th. CenterPoint Energy’s payout ratio is presently 76.98%.
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Several research analysts recently weighed in on the company. BidaskClub raised CenterPoint Energy from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, J P Morgan Chase & Co assumed coverage on CenterPoint Energy in a research report on Thursday, June 29th. They set a “neutral” rating and a $29.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued 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 related news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $27.66, for a total transaction of $27,660.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 3,000 shares of company stock worth $84,560 in the last ninety days. 0.20% of the stock is currently owned by company insiders.
CenterPoint Energy Company 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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