Cibc World Markets Corp reduced its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP – Free Report) by 57.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,835 shares of the utilities provider’s stock after selling 42,176 shares during the quarter. Cibc World Markets Corp’s holdings in CenterPoint Energy were worth $938,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Securian Asset Management Inc. boosted its stake in shares of CenterPoint Energy by 0.6% during the first quarter. Securian Asset Management Inc. now owns 52,022 shares of the utilities provider’s stock valued at $1,533,000 after purchasing an additional 333 shares during the period. AdvisorNet Financial Inc boosted its stake in shares of CenterPoint Energy by 3.3% during the first quarter. AdvisorNet Financial Inc now owns 11,019 shares of the utilities provider’s stock valued at $325,000 after purchasing an additional 349 shares during the period. Bogart Wealth LLC boosted its stake in shares of CenterPoint Energy by 44.9% during the first quarter. Bogart Wealth LLC now owns 1,152 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 357 shares during the period. Texas Permanent School Fund boosted its stake in shares of CenterPoint Energy by 0.4% during the fourth quarter. Texas Permanent School Fund now owns 89,445 shares of the utilities provider’s stock valued at $2,682,000 after purchasing an additional 374 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of CenterPoint Energy by 8.4% during the first quarter. Signaturefd LLC now owns 5,084 shares of the utilities provider’s stock valued at $150,000 after purchasing an additional 393 shares during the period. 88.96% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CNP has been the subject of a number of recent analyst reports. Guggenheim boosted their target price on shares of CenterPoint Energy from $32.00 to $33.00 in a research note on Friday, July 7th. StockNews.com initiated coverage on CenterPoint Energy in a report on Thursday, August 17th. They issued a “hold” rating for the company. Mizuho downgraded CenterPoint Energy from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a report on Friday, July 28th. Barclays initiated coverage on CenterPoint Energy in a report on Wednesday, August 23rd. They issued an “underweight” rating and a $28.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on CenterPoint Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CenterPoint Energy presently has an average rating of “Moderate Buy” and a consensus target price of $32.10.
CenterPoint Energy Stock Performance
Shares of CenterPoint Energy stock opened at $27.65 on Friday. The company has a market capitalization of $17.45 billion, a PE ratio of 24.04, a P/E/G ratio of 2.52 and a beta of 0.88. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.65 and a current ratio of 0.88. The company has a 50-day simple moving average of $29.21 and a two-hundred day simple moving average of $29.22. CenterPoint Energy, Inc. has a one year low of $25.03 and a one year high of $33.50.
CenterPoint Energy (NYSE:CNP – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. CenterPoint Energy had a return on equity of 9.71% and a net margin of 8.28%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Research analysts expect that CenterPoint Energy, Inc. will post 1.49 EPS for the current fiscal year.
CenterPoint Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 17th will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, August 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.75%. CenterPoint Energy’s payout ratio is 66.09%.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.
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