Advisory Services Network LLC raised its position in shares of CenterPoint Energy Inc. (NYSE:CNP) by 228.5% during the second quarter, Holdings Channel reports. The fund owned 5,145 shares of the company’s stock after buying an additional 3,579 shares during the period. Advisory Services Network LLC’s holdings in CenterPoint Energy were worth $123,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in CNP. Washington Trust Bank increased its position in CenterPoint Energy by 133.7% in the second quarter. Washington Trust Bank now owns 5,384 shares of the company’s stock worth $129,000 after buying an additional 3,080 shares during the period. Invictus RG bought a new position in CenterPoint Energy during the first quarter worth approximately $204,000. Conning Inc. increased its position in CenterPoint Energy by 3.4% in the second quarter. Conning Inc. now owns 10,332 shares of the company’s stock worth $248,000 after buying an additional 340 shares during the period. First Midwest Bank Trust Division bought a new position in CenterPoint Energy during the second quarter worth approximately $336,000. Finally, WealthTrust Axiom LLC increased its position in CenterPoint Energy by 0.4% in the second quarter. WealthTrust Axiom LLC now owns 14,232 shares of the company’s stock worth $341,000 after buying an additional 59 shares during the period. 77.06% of the stock is owned by institutional investors.
Shares of CenterPoint Energy Inc. (NYSE:CNP) traded down 1.53% during mid-day trading on Tuesday, reaching $21.84. The company had a trading volume of 2,703,541 shares. The stock has a 50 day moving average price of $22.98 and a 200 day moving average price of $22.64. CenterPoint Energy Inc. has a 12-month low of $16.05 and a 12-month high of $24.71. The firm’s market capitalization is $9.41 billion.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Friday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.03. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.62 billion. CenterPoint Energy had a negative net margin of 10.72% and a positive return on equity of 13.48%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. On average, equities analysts forecast that CenterPoint Energy Inc. will post $1.15 earnings per share for the current year.
Several brokerages have commented on CNP. SunTrust Banks Inc. reissued a “hold” rating and set a $24.00 target price on shares of CenterPoint Energy in a research note on Tuesday, August 2nd. RBC Capital Markets set a $26.00 target price on CenterPoint Energy and gave the stock a “buy” rating in a research note on Monday, August 8th. Credit Suisse Group AG set a $24.00 target price on CenterPoint Energy and gave the stock a “hold” rating in a research note on Monday, August 8th. TheStreet downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Finally, Tudor Pickering downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.68.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company’s segments include Electric Transmission & Distribution, Natural Gas Distribution, Energy Services, Midstream Investments and Other Operations. Its Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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