Strs Ohio boosted its stake in shares of CenterPoint Energy Inc. (NYSE:CNP) by 43.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 86,582 shares of the company’s stock after buying an additional 26,332 shares during the period. Strs Ohio’s holdings in CenterPoint Energy were worth $2,077,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Washington Trust Bank increased its position in shares of CenterPoint Energy by 133.7% in the second quarter. Washington Trust Bank now owns 5,384 shares of the company’s stock valued at $129,000 after buying an additional 3,080 shares during the period. Invictus RG purchased a new position in shares of CenterPoint Energy during the first quarter valued at about $204,000. Kempner Capital Management Inc. increased its position in shares of CenterPoint Energy by 15.7% in the second quarter. Kempner Capital Management Inc. now owns 16,200 shares of the company’s stock valued at $389,000 after buying an additional 2,200 shares during the period. BlueMountain Capital Management LLC purchased a new position in shares of CenterPoint Energy during the first quarter valued at about $394,000. Finally, M&T Bank Corp purchased a new position in shares of CenterPoint Energy during the first quarter valued at about $430,000. 77.05% of the stock is owned by institutional investors.
CenterPoint Energy Inc. (NYSE:CNP) traded down 1.79% during mid-day trading on Friday, reaching $21.90. The company’s stock had a trading volume of 5,147,408 shares. The company’s market cap is $9.43 billion. The stock’s 50 day moving average is $23.00 and its 200 day moving average is $22.60. CenterPoint Energy Inc. has a 12 month low of $16.05 and a 12 month high of $24.71.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Friday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.03. CenterPoint Energy had a positive return on equity of 13.48% and a negative net margin of 10.72%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the company earned $0.19 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts predict that CenterPoint Energy Inc. will post $1.15 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Tuesday, August 16th were issued a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend was Friday, August 12th. CenterPoint Energy’s payout ratio is presently -59.20%.
Several research firms recently weighed in on CNP. RBC Capital Markets set a $26.00 price objective on shares of CenterPoint Energy and gave the stock a “buy” rating in a report on Monday, August 8th. Wells Fargo & Co. downgraded shares of CenterPoint Energy from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 22nd. SunTrust Banks Inc. reaffirmed a “hold” rating and issued a $24.00 price objective on shares of CenterPoint Energy in a report on Tuesday, August 2nd. Argus reaffirmed a “buy” rating and issued a $28.00 price objective (up previously from $26.00) on shares of CenterPoint Energy in a report on Friday, July 1st. Finally, Deutsche Bank AG reduced their price objective on shares of CenterPoint Energy from $24.50 to $24.00 and set a “hold” rating for the company in a report on Monday, August 8th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $22.68.
CenterPoint Energy Company Profile
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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