SG Americas Securities LLC Sells 87,892 Shares of CenterPoint Energy, Inc. (CNP)
SG Americas Securities LLC lowered its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 42.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,879 shares of the utilities provider’s stock after selling 87,892 shares during the period. SG Americas Securities LLC’s holdings in CenterPoint Energy were worth $3,443,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Paradigm Asset Management Co. LLC boosted its stake in CenterPoint Energy by 2.2% during the second quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock worth $126,000 after buying an additional 100 shares in the last quarter. IHT Wealth Management LLC acquired a new stake in CenterPoint Energy during the second quarter worth $153,000. Pinebridge Investments L.P. acquired a new stake in CenterPoint Energy during the second quarter worth $154,000. Huntington National Bank boosted its stake in CenterPoint Energy by 58.1% during the second quarter. Huntington National Bank now owns 6,121 shares of the utilities provider’s stock worth $168,000 after buying an additional 2,250 shares in the last quarter. Finally, Eagle Ridge Investment Management acquired a new stake in CenterPoint Energy during the third quarter worth $201,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.
CenterPoint Energy, Inc. (NYSE CNP) traded up $0.12 during trading on Tuesday, hitting $29.12. The company had a trading volume of 2,123,200 shares, compared to its average volume of 2,837,283. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.91 and a quick ratio of 0.77. CenterPoint Energy, Inc. has a fifty-two week low of $23.36 and a fifty-two week high of $30.45. The company has a market capitalization of $12,440.00, a PE ratio of 22.14, a price-to-earnings-growth ratio of 4.00 and a beta of 0.64.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Friday, November 3rd. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.39. CenterPoint Energy had a return on equity of 16.00% and a net margin of 6.59%. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. equities analysts predict that CenterPoint Energy, Inc. will post 1.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 16th will be issued a $0.2675 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 3.67%. CenterPoint Energy’s dividend payout ratio is 77.54%.
In related news, CEO Scott M. Prochazka sold 1,000 shares of CenterPoint Energy stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $29.61, for a total value of $29,610.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 3,000 shares of company stock valued at $88,300 over the last ninety days. 0.20% of the stock is currently owned by company insiders.
A number of brokerages have issued reports on CNP. BidaskClub raised CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Citigroup Inc. lifted their price objective on CenterPoint Energy from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Monday. Zacks Investment Research cut CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Bank of America Corporation began coverage on CenterPoint Energy in a report on Tuesday, October 24th. They set a “neutral” rating and a $30.00 price objective for the company. Finally, SunTrust Banks, Inc. reissued a “hold” rating and set a $30.00 price objective on shares of CenterPoint Energy in a report on Monday, October 2nd. Ten investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $28.89.
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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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