Traders Sell Shares of CenterPoint Energy (CNP) on Strength After Earnings Miss
Traders sold shares of CenterPoint Energy, Inc. (NYSE:CNP) on strength during trading on Friday following a dissappointing earnings announcement. $14.38 million flowed into the stock on the tick-up and $35.08 million flowed out of the stock on the tick-down, for a money net flow of $20.70 million out of the stock. Of all stocks tracked, CenterPoint Energy had the 0th highest net out-flow for the day. CenterPoint Energy traded up $0.07 for the day and closed at $28.13The utilities provider reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.26 billion. CenterPoint Energy had a return on equity of 10.73% and a net margin of 15.43%. CenterPoint Energy’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 15th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.95%. The ex-dividend date is Wednesday, November 14th. CenterPoint Energy’s payout ratio is currently 81.02%.
Several equities analysts recently commented on CNP shares. Zacks Investment Research upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Monday, July 23rd. ValuEngine upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. SunTrust Banks reiterated 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. upgraded shares of 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. Finally, Wells Fargo & Co upgraded shares of CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Monday, October 8th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. CenterPoint Energy currently has an average rating of “Hold” and an average price target of $29.33.
Several hedge funds have recently made changes to their positions in the company. DnB Asset Management AS raised its stake in shares of CenterPoint Energy by 4.7% in the 2nd quarter. DnB Asset Management AS now owns 68,513 shares of the utilities provider’s stock valued at $1,898,000 after buying an additional 3,100 shares in the last quarter. IFM Investors Pty Ltd raised its stake in shares of CenterPoint Energy by 33.4% in the 2nd quarter. IFM Investors Pty Ltd now owns 23,532 shares of the utilities provider’s stock valued at $652,000 after buying an additional 5,887 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of CenterPoint Energy in the 2nd quarter valued at $1,018,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of CenterPoint Energy by 48.6% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 249,687 shares of the utilities provider’s stock valued at $6,919,000 after buying an additional 81,698 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its stake in shares of CenterPoint Energy by 27.2% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 22,000 shares of the utilities provider’s stock valued at $610,000 after buying an additional 4,700 shares in the last quarter. Institutional investors own 67.52% of the company’s stock.
The company has a market cap of $14.19 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 3.04 and a beta of 0.43. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.95.
WARNING: This piece was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international trademark and copyright law. The legal version of this piece can be read at https://www.watchlistnews.com/traders-sell-shares-of-centerpoint-energy-cnp-on-strength-after-earnings-miss/2599180.html.
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.
Further Reading: How to Invest in the Dividend Aristocrat Index
Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.