Aviva PLC decreased its position in CenterPoint Energy, Inc. (NYSE:CNP) by 4.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,662 shares of the utilities provider’s stock after selling 9,331 shares during the period. Aviva PLC’s holdings in CenterPoint Energy were worth $5,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of CNP. BlackRock Inc. raised its stake in CenterPoint Energy by 13.0% in the 2nd quarter. BlackRock Inc. now owns 45,260,445 shares of the utilities provider’s stock worth $1,254,170,000 after acquiring an additional 5,189,512 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in CenterPoint Energy by 139.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,684,513 shares of the utilities provider’s stock worth $184,827,000 after acquiring an additional 3,889,363 shares during the last quarter. Millennium Management LLC raised its stake in CenterPoint Energy by 1,227.8% in the 2nd quarter. Millennium Management LLC now owns 3,452,630 shares of the utilities provider’s stock worth $95,672,000 after acquiring an additional 3,192,603 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in CenterPoint Energy by 2,384.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,232,730 shares of the utilities provider’s stock worth $34,159,000 after acquiring an additional 1,183,109 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in CenterPoint Energy by 84.6% in the 2nd quarter. First Trust Advisors LP now owns 1,554,306 shares of the utilities provider’s stock worth $43,070,000 after acquiring an additional 712,521 shares during the last quarter. Institutional investors own 79.72% of the company’s stock.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 4,000 shares of the stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $27.09, for a total transaction of $108,360.00. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 12,000 shares of company stock worth $331,200 over the last ninety days. 0.22% of the stock is owned by insiders.
Shares of CNP opened at $28.38 on Friday. The stock has a market cap of $14.06 billion, a price-to-earnings ratio of 20.72, a P/E/G ratio of 3.01 and a beta of 0.46. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 1.06. CenterPoint Energy, Inc. has a fifty-two week low of $24.81 and a fifty-two week high of $29.06.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, November 8th. The utilities provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.26 billion. CenterPoint Energy had a return on equity of 14.40% and a net margin of 15.15%. CenterPoint Energy’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 earnings per share. On average, analysts expect that CenterPoint Energy, Inc. will post 1.57 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 15th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 3.91%. The ex-dividend date is Wednesday, November 14th. CenterPoint Energy’s dividend payout ratio is currently 81.02%.
A number of brokerages recently issued reports on CNP. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “sell” rating in a research note on Tuesday, October 9th. ValuEngine raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. JPMorgan Chase & Co. increased their price target on CenterPoint Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 9th. Wells Fargo & Co raised CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research report on Monday, October 8th. Finally, Barclays set a $31.00 price target on CenterPoint Energy and gave the stock a “hold” rating in a research report on Saturday, November 17th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $29.44.
CenterPoint Energy Company 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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