Comerica Bank lifted its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 208,549 shares of the utilities provider’s stock after purchasing an additional 12,593 shares during the period. Comerica Bank’s holdings in CenterPoint Energy were worth $6,146,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in CNP. Paradigm Asset Management Co. LLC lifted its stake in shares of CenterPoint Energy by 2.2% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 100 shares during the period. IHT Wealth Management LLC acquired a new position in CenterPoint Energy during the second quarter worth about $153,000. Pinebridge Investments L.P. acquired a new position in CenterPoint Energy during the second quarter worth about $154,000. Huntington National Bank raised its position in CenterPoint Energy by 58.1% during the second quarter. Huntington National Bank now owns 6,121 shares of the utilities provider’s stock worth $168,000 after acquiring an additional 2,250 shares during the last quarter. Finally, Eagle Ridge Investment Management acquired a new position in CenterPoint Energy during the third quarter worth about $201,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.
In related news, CEO Scott M. Prochazka sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $29.61, for a total value of $29,610.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 3,000 shares of company stock valued at $88,300. 0.20% of the stock is owned by insiders.
A number of equities analysts have issued reports on the stock. Citigroup Inc. lifted their target price on shares of CenterPoint Energy from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday. Zacks Investment Research cut shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Bank of America Corporation assumed coverage on shares of CenterPoint Energy in a research report on Tuesday, October 24th. They set a “neutral” rating and a $30.00 target price for the company. J P Morgan Chase & Co set a $30.00 target price on shares of CenterPoint Energy and gave the stock a “hold” rating in a research report on Thursday, October 12th. Finally, SunTrust Banks, Inc. restated a “hold” rating and set a $30.00 target price on shares of CenterPoint Energy in a research report on Monday, October 2nd. Ten equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $28.89.
Shares of CenterPoint Energy, Inc. (NYSE:CNP) opened at $29.12 on Tuesday. The company has a market cap of $12,440.00, a PE ratio of 22.14, a PEG ratio of 4.00 and a beta of 0.64. CenterPoint Energy, Inc. has a twelve month low of $23.36 and a twelve month high of $30.45. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 2.08.
CenterPoint Energy (NYSE:CNP) last released its earnings results on Friday, November 3rd. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. CenterPoint Energy had a net margin of 6.59% and a return on equity of 16.00%. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the firm earned $0.41 earnings per share. CenterPoint Energy’s revenue was up 11.1% compared to the same quarter last year. research analysts predict that CenterPoint Energy, Inc. will post 1.31 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 16th will be issued a $0.2675 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $1.07 dividend on an annualized basis and a yield of 3.67%. CenterPoint Energy’s payout ratio is 77.54%.
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CenterPoint Energy Company Profile
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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