Raymond James Financial Services Advisors Inc. reduced its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 8.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,073 shares of the utilities provider’s stock after selling 4,049 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in CenterPoint Energy were worth $1,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Aperio Group LLC increased its holdings in CenterPoint Energy by 21.1% in the second quarter. Aperio Group LLC now owns 431,125 shares of the utilities provider’s stock valued at $11,946,000 after buying an additional 75,259 shares during the last quarter. Park Avenue Securities LLC increased its holdings in CenterPoint Energy by 22.5% in the second quarter. Park Avenue Securities LLC now owns 14,406 shares of the utilities provider’s stock valued at $397,000 after buying an additional 2,645 shares during the last quarter. Virtu Financial LLC purchased a new position in CenterPoint Energy in the second quarter valued at $404,000. Dupont Capital Management Corp increased its holdings in CenterPoint Energy by 93.4% in the second quarter. Dupont Capital Management Corp now owns 120,860 shares of the utilities provider’s stock valued at $3,349,000 after buying an additional 58,380 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in CenterPoint Energy by 39.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,795,150 shares of the utilities provider’s stock valued at $77,453,000 after buying an additional 791,903 shares during the last quarter. Institutional investors and hedge funds own 79.94% of the company’s stock.

Shares of CNP stock opened at $27.88 on Friday. The stock has a market cap of $12.01 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 3.06 and a beta of 0.51. CenterPoint Energy, Inc. has a 1 year low of $24.81 and a 1 year high of $30.45. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.95.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Friday, August 3rd. The utilities provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.02). The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 EPS. analysts predict that CenterPoint Energy, Inc. will post 1.61 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Thursday, August 16th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Wednesday, August 15th. CenterPoint Energy’s payout ratio is 81.02%.

In related news, insider Milton Carroll sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $28.27, for a total transaction of $282,700.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Scott M. Prochazka sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $27.57, for a total value of $110,280.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,000 shares of company stock worth $607,940. Corporate insiders own 0.22% of the company’s stock.

CNP has been the topic of several recent analyst reports. Zacks Investment Research raised CenterPoint Energy from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Tuesday, June 12th. ValuEngine lowered CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. SunTrust Banks reaffirmed a “hold” rating and set a $30.00 price objective on shares of CenterPoint Energy in a report on Monday, August 6th. Finally, Credit Suisse Group raised CenterPoint Energy from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $27.00 to $30.00 in a report on Wednesday, May 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.50.

CenterPoint Energy 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.

Further Reading: Understanding Price to Earnings Ratio (PE)

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

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