Investors Sell Shares of CenterPoint Energy (CNP) on Strength Following Insider Selling
Investors sold shares of CenterPoint Energy, Inc. (NYSE:CNP) on strength during trading on Friday following insider selling activity. $12.57 million flowed into the stock on the tick-up and $43.45 million flowed out of the stock on the tick-down, for a money net flow of $30.88 million out of the stock. Of all equities tracked, CenterPoint Energy had the 11th highest net out-flow for the day. CenterPoint Energy traded up $0.21 for the day and closed at $28.38Specifically, CEO Scott M. Prochazka sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $27.09, for a total value of $108,360.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 12,000 shares of company stock valued at $331,200 in the last 90 days. 0.22% of the stock is currently owned by company insiders.
A number of equities analysts recently issued reports on the company. Wells Fargo & Co restated a “buy” rating on shares of CenterPoint Energy in a research note on Friday, November 9th. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “sell” rating in a research note on Tuesday, October 9th. Barclays set a $31.00 target price on CenterPoint Energy and gave the stock a “hold” rating in a research note on Saturday, November 17th. ValuEngine lowered CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Finally, JPMorgan Chase & Co. upgraded CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 target price for the company in a research note on Wednesday, September 5th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $29.44.
The company has a market cap of $14.06 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 3.01 and a beta of 0.46. 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 15th will be paid a dividend of $0.2775 per share. The ex-dividend date is Wednesday, November 14th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.91%. CenterPoint Energy’s payout ratio is currently 81.02%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Braun Bostich & Associates Inc. raised its stake in shares of CenterPoint Energy by 1,372.0% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 4,151 shares of the utilities provider’s stock valued at $115,000 after buying an additional 3,869 shares during the last quarter. Ropes Wealth Advisors LLC purchased a new position in shares of CenterPoint Energy during the 2nd quarter valued at about $130,000. Signet Financial Management LLC raised its stake in shares of CenterPoint Energy by 649.6% during the 2nd quarter. Signet Financial Management LLC now owns 5,322 shares of the utilities provider’s stock valued at $147,000 after buying an additional 4,612 shares during the last quarter. FNY Investment Advisers LLC raised its stake in shares of CenterPoint Energy by 2,962.2% during the 3rd quarter. FNY Investment Advisers LLC now owns 6,400 shares of the utilities provider’s stock valued at $176,000 after buying an additional 6,191 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of CenterPoint Energy by 422.1% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,396 shares of the utilities provider’s stock valued at $177,000 after buying an additional 5,171 shares during the last quarter. Institutional investors and hedge funds own 79.72% of the company’s stock.
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About CenterPoint Energy (NYSE:CNP)
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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