Daiwa Securities Group Inc. cut its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 38.4% during the second quarter, Holdings Channel reports. The firm owned 58,300 shares of the utilities provider’s stock after selling 36,400 shares during the period. Daiwa Securities Group Inc.’s holdings in CenterPoint Energy were worth $1,596,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNP. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in CenterPoint Energy by 0.3% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 9,398 shares of the utilities provider’s stock valued at $260,000 after buying an additional 32 shares during the period. Cleararc Capital Inc. boosted its position in CenterPoint Energy by 0.8% in the first quarter. Cleararc Capital Inc. now owns 10,542 shares of the utilities provider’s stock valued at $291,000 after buying an additional 84 shares during the period. Advantus Capital Management Inc boosted its position in CenterPoint Energy by 0.3% in the first quarter. Advantus Capital Management Inc now owns 43,232 shares of the utilities provider’s stock valued at $1,192,000 after buying an additional 119 shares during the period. CIBC Asset Management Inc boosted its position in CenterPoint Energy by 0.3% in the second quarter. CIBC Asset Management Inc now owns 43,536 shares of the utilities provider’s stock valued at $1,192,000 after buying an additional 144 shares during the period. Finally, Conning Inc. boosted its position in CenterPoint Energy by 1.5% in the first quarter. Conning Inc. now owns 11,302 shares of the utilities provider’s stock valued at $312,000 after buying an additional 170 shares during the period. Hedge funds and other institutional investors own 77.16% of the company’s stock.

CenterPoint Energy, Inc. (NYSE:CNP) opened at 29.06 on Thursday. The company has a market capitalization of $12.52 billion, a PE ratio of 26.91 and a beta of 0.64. CenterPoint Energy, Inc. has a 12-month low of $21.83 and a 12-month high of $29.45. The stock has a 50 day moving average of $27.95 and a 200 day moving average of $27.65.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.07. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.98 billion. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. The company’s quarterly revenue was up 36.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. On average, equities research analysts predict that CenterPoint Energy, Inc. will post $1.32 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Wednesday, August 16th will be given a $0.2675 dividend. This represents a $1.07 annualized dividend and a yield of 3.68%. The ex-dividend date is Monday, August 14th. CenterPoint Energy’s payout ratio is presently 76.98%.

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Several research analysts have commented on the stock. Zacks Investment Research cut shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. BidaskClub cut shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, J P Morgan Chase & Co assumed coverage on shares of CenterPoint Energy in a research report on Thursday, June 29th. They issued a “neutral” rating and a $29.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $27.33.

In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $27.66, for a total value of $27,660.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 3,000 shares of company stock valued at $84,560 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.

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

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