Waverton Investment Management Ltd Grows Position in CenterPoint Energy, Inc. (CNP)
Waverton Investment Management Ltd increased its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 2.8% in the 4th quarter, Holdings Channel reports. The firm owned 35,277 shares of the utilities provider’s stock after purchasing an additional 955 shares during the quarter. Waverton Investment Management Ltd’s holdings in CenterPoint Energy were worth $996,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its holdings in shares of CenterPoint Energy by 54.0% during the 3rd quarter. Mackenzie Financial Corp now owns 21,429 shares of the utilities provider’s stock worth $593,000 after buying an additional 7,513 shares in the last quarter. Rehmann Capital Advisory Group grew its position in CenterPoint Energy by 2,773.0% during the 3rd quarter. Rehmann Capital Advisory Group now owns 60,332 shares of the utilities provider’s stock worth $2,182,000 after acquiring an additional 58,232 shares during the last quarter. Marshall Wace LLP grew its position in CenterPoint Energy by 454.6% during the 2nd quarter. Marshall Wace LLP now owns 230,154 shares of the utilities provider’s stock worth $6,378,000 after acquiring an additional 188,654 shares during the last quarter. Pensionfund Sabic bought a new stake in CenterPoint Energy during the 3rd quarter worth $1,714,000. Finally, Gradient Investments LLC grew its position in CenterPoint Energy by 20,374.5% during the 3rd quarter. Gradient Investments LLC now owns 293,400 shares of the utilities provider’s stock worth $8,113,000 after acquiring an additional 291,967 shares during the last quarter. 79.37% of the stock is owned by institutional investors and hedge funds.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 4,000 shares of the company’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $28.17, for a total value of $112,680.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 12,000 shares of company stock worth $332,520 in the last quarter. Corporate insiders own 0.22% of the company’s stock.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Thursday, November 8th. The utilities provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). CenterPoint Energy had a net margin of 15.15% and a return on equity of 14.40%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the firm posted $0.38 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts forecast that CenterPoint Energy, Inc. will post 1.59 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Thursday, February 21st will be given a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Wednesday, February 20th. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.28. CenterPoint Energy’s payout ratio is 81.02%.
A number of equities research analysts recently weighed in on CNP shares. UBS Group upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $30.00 to $34.00 in a research report on Thursday, December 13th. ValuEngine upgraded CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 11th. Wells Fargo & Co restated a “buy” rating on shares of CenterPoint Energy in a research report on Friday, November 9th. Zacks Investment Research upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Wednesday, October 3rd. Finally, Barclays started coverage on CenterPoint Energy in a research report on Monday, October 22nd. They set a “hold” rating and a $30.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. CenterPoint Energy presently has an average rating of “Buy” and an average price target of $30.10.
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.
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