Neuberger Berman Group LLC trimmed its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 1.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,525,912 shares of the utilities provider’s stock after selling 26,903 shares during the quarter. Neuberger Berman Group LLC owned 0.35% of CenterPoint Energy worth $44,572,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in CNP. Tortoise Investment Management LLC acquired a new stake in shares of CenterPoint Energy during the 3rd quarter worth about $120,000. Paradigm Asset Management Co. LLC increased its position in CenterPoint Energy by 2.2% during the second quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock worth $126,000 after buying an additional 100 shares during the period. IHT Wealth Management LLC acquired a new position in CenterPoint Energy during the second quarter worth approximately $153,000. Pinebridge Investments L.P. acquired a new position in CenterPoint Energy during the second quarter worth approximately $154,000. Finally, Eagle Ridge Investment Management acquired a new position in CenterPoint Energy during the third quarter worth approximately $201,000. Institutional investors own 77.70% of the company’s stock.
In related news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $29.61, for a total value of $29,610.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 3,000 shares of company stock valued at $87,110 in the last three months. 0.20% of the stock is currently owned by company insiders.
CNP has been the topic of several analyst reports. Bank of America assumed coverage on CenterPoint Energy in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $30.00 price target on the stock. SunTrust Banks restated a “hold” rating and issued a $30.00 price target on shares of CenterPoint Energy in a research note on Monday, October 2nd. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Guggenheim downgraded CenterPoint Energy from a “buy” rating to a “neutral” rating in a research report on Monday, December 4th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. set a $30.00 target price on CenterPoint Energy and gave the stock a “hold” rating in a research report on Thursday, October 12th. Ten research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. CenterPoint Energy presently has an average rating of “Hold” and a consensus target price of $29.13.
CenterPoint Energy, Inc. (CNP) traded up $0.17 during midday trading on Thursday, hitting $27.43. The stock had a trading volume of 3,610,000 shares, compared to its average volume of 3,785,179. The firm has a market capitalization of $11,820.00, a PE ratio of 19.88, a price-to-earnings-growth ratio of 3.45 and a beta of 0.62. CenterPoint Energy, Inc. has a 12 month low of $25.17 and a 12 month high of $30.45. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.77 and a current ratio of 0.91.
CenterPoint Energy (NYSE:CNP) last issued its earnings results on Friday, November 3rd. The utilities provider reported $0.39 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. CenterPoint Energy had a return on equity of 16.00% and a net margin of 6.59%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. The company’s revenue was up 11.1% compared to the same quarter last year. analysts forecast that CenterPoint Energy, Inc. will post 1.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.11 dividend on an annualized basis and a yield of 4.05%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.27. CenterPoint Energy’s dividend payout ratio is currently 77.54%.
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CenterPoint Energy 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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