State of Tennessee Treasury Department raised its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 7.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,638 shares of the utilities provider’s stock after purchasing an additional 8,920 shares during the quarter. State of Tennessee Treasury Department’s holdings in CenterPoint Energy were worth $3,762,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of CNP. Advantage Investment Management LLC raised its stake in shares of CenterPoint Energy by 432.7% in the second quarter. Advantage Investment Management LLC now owns 1,598 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 1,298 shares during the last quarter. TD Capital Management LLC purchased a new stake in shares of CenterPoint Energy in the second quarter worth approximately $47,000. HM Payson & Co. purchased a new stake in shares of CenterPoint Energy during the second quarter valued at approximately $56,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of CenterPoint Energy during the third quarter valued at approximately $64,000. Finally, Amica Retiree Medical Trust purchased a new stake in shares of CenterPoint Energy during the second quarter valued at approximately $65,000. 79.99% of the stock is owned by hedge funds and other institutional investors.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 7,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $30.06, for a total transaction of $210,420.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 21,000 shares of company stock valued at $608,440. 0.24% of the stock is owned by corporate insiders.
Shares of NYSE CNP opened at $29.00 on Friday. The stock has a fifty day simple moving average of $29.22 and a two-hundred day simple moving average of $29.10. CenterPoint Energy, Inc. has a 1-year low of $26.81 and a 1-year high of $31.42. The firm has a market cap of $14.43 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 3.37 and a beta of 0.47. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 2.17.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.10. CenterPoint Energy had a return on equity of 13.59% and a net margin of 5.55%. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period in the prior year, the company earned $0.39 earnings per share. CenterPoint Energy’s revenue was up 24.0% compared to the same quarter last year. Analysts forecast that CenterPoint Energy, Inc. will post 1.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Wednesday, November 20th. CenterPoint Energy’s dividend payout ratio (DPR) is 71.88%.
A number of analysts recently commented on CNP shares. Barclays raised CenterPoint Energy from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $33.00 to $31.00 in a research report on Tuesday, August 13th. Stifel Nicolaus raised CenterPoint Energy from a “hold” rating to a “buy” rating and increased their price target for the company from $30.00 to $32.00 in a research report on Friday, September 6th. UBS Group decreased their price target on CenterPoint Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Monday, October 14th. Finally, SunTrust Banks raised CenterPoint Energy from a “hold” rating to a “buy” rating and increased their price target for the company from $30.00 to $32.00 in a research report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $31.79.
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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