CenterPoint Energy Target of Unusually High Options Trading (CNP)
CenterPoint Energy, Inc. (NYSE:CNP) was the recipient of some unusual options trading activity on Tuesday. Stock traders bought 5,123 call options on the stock. This is an increase of approximately 6,304% compared to the typical daily volume of 80 call options.
In other CenterPoint Energy news, insider Milton Carroll sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $28.27, for a total transaction of $282,700.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott M. Prochazka sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $27.57, for a total transaction of $110,280.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,000 shares of company stock worth $504,940. 0.22% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of CenterPoint Energy by 13.0% in the 2nd quarter. BlackRock Inc. now owns 45,260,445 shares of the utilities provider’s stock worth $1,254,170,000 after purchasing an additional 5,189,512 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of CenterPoint Energy by 2.3% in the 2nd quarter. Wells Fargo & Company MN now owns 5,940,888 shares of the utilities provider’s stock worth $164,622,000 after purchasing an additional 131,358 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of CenterPoint Energy by 27.9% in the 2nd quarter. Acadian Asset Management LLC now owns 4,640,194 shares of the utilities provider’s stock worth $128,578,000 after purchasing an additional 1,012,520 shares during the last quarter. Millennium Management LLC increased its position in shares of CenterPoint Energy by 1,227.8% in the second quarter. Millennium Management LLC now owns 3,452,630 shares of the utilities provider’s stock worth $95,672,000 after acquiring an additional 3,192,603 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of CenterPoint Energy by 1.2% in the second quarter. Legal & General Group Plc now owns 3,025,028 shares of the utilities provider’s stock worth $83,798,000 after acquiring an additional 34,891 shares in the last quarter. 77.26% of the stock is currently owned by institutional investors.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Friday, August 3rd. The utilities provider reported $0.30 earnings per share (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 analyst estimates 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 for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 EPS. research analysts forecast that CenterPoint Energy will post 1.61 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 13th. Stockholders of record on Thursday, August 16th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Wednesday, August 15th. This represents a $1.11 annualized dividend and a dividend yield of 4.07%. CenterPoint Energy’s dividend payout ratio is currently 81.02%.
Several equities analysts have commented on CNP shares. ValuEngine raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Zacks Investment Research cut shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. SunTrust Banks reissued a “hold” rating and set a $30.00 target price on shares of CenterPoint Energy in a research note on Monday, August 6th. JPMorgan Chase & Co. raised shares of CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 target price on the stock in a research note on Wednesday, September 5th. Finally, Bank of America raised shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $28.86.
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.
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