Zurich Insurance Group Ltd FI lowered its position in CenterPoint Energy, Inc. (NYSE:CNP) by 58.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 62,083 shares of the utilities provider’s stock after selling 88,949 shares during the period. Zurich Insurance Group Ltd FI’s holdings in CenterPoint Energy were worth $1,700,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the business. Sun Life Financial INC raised its position in shares of CenterPoint Energy by 4,762.2% in the second quarter. Sun Life Financial INC now owns 12,204 shares of the utilities provider’s stock worth $334,000 after acquiring an additional 11,953 shares during the period. Picton Mahoney Asset Management acquired a new position in shares of CenterPoint Energy in the second quarter worth about $6,363,000. Carnegie Capital Asset Management LLC raised its position in shares of CenterPoint Energy by 0.3% in the second quarter. Carnegie Capital Asset Management LLC now owns 12,513 shares of the utilities provider’s stock worth $353,000 after acquiring an additional 39 shares during the period. Stifel Financial Corp raised its position in shares of CenterPoint Energy by 542.9% in the second quarter. Stifel Financial Corp now owns 74,221 shares of the utilities provider’s stock worth $2,032,000 after acquiring an additional 62,676 shares during the period. Finally, Voya Investment Management LLC raised its position in shares of CenterPoint Energy by 9.5% in the second quarter. Voya Investment Management LLC now owns 733,151 shares of the utilities provider’s stock worth $20,074,000 after acquiring an additional 63,353 shares during the period. Institutional investors and hedge funds own 76.87% of the company’s stock.

In related news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $29.61, for a total value of $29,610.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 3,000 shares of company stock valued at $86,920 in the last quarter. Company insiders own 0.20% of the company’s stock.

A number of research analysts have weighed in on the stock. BidaskClub upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $30.00 price objective on shares of CenterPoint Energy in a research report on Monday, October 2nd. Credit Suisse Group upgraded shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $28.82 to $29.00 in a research report on Monday, August 14th. J P Morgan Chase & Co assumed coverage on shares of CenterPoint Energy in a research report on Thursday, June 29th. They issued a “neutral” rating and a $29.00 price objective for the company. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $29.00 price objective on shares of CenterPoint Energy in a research report on Monday, September 11th. Eight investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $28.00.

Shares of CenterPoint Energy, Inc. (NYSE CNP) opened at 28.88 on Friday. CenterPoint Energy, Inc. has a 1-year low of $21.83 and a 1-year high of $30.45. The stock has a market cap of $12.45 billion, a PE ratio of 20.63 and a beta of 0.62. The stock’s 50 day moving average is $29.58 and its 200-day moving average is $28.43.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.07. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was up 36.1% compared to the same quarter last year. On average, analysts predict that CenterPoint Energy, Inc. will post $1.33 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Wednesday, August 16th were paid a $0.2675 dividend. This represents a $1.07 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Monday, August 14th. CenterPoint Energy’s dividend payout ratio (DPR) is 76.98%.

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

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