BB&T Corp Increases Position in CenterPoint Energy, Inc. (CNP)

BB&T Corp increased its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 150,901 shares of the utilities provider’s stock after purchasing an additional 3,118 shares during the period. BB&T Corp’s holdings in CenterPoint Energy were worth $4,172,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Oppenheimer & Co. Inc. increased its position in CenterPoint Energy by 18.9% in the second quarter. Oppenheimer & Co. Inc. now owns 11,129 shares of the utilities provider’s stock worth $309,000 after purchasing an additional 1,771 shares during the last quarter. First Allied Advisory Services Inc. increased its position in CenterPoint Energy by 18.9% in the second quarter. First Allied Advisory Services Inc. now owns 11,719 shares of the utilities provider’s stock worth $331,000 after purchasing an additional 1,865 shares during the last quarter. Amalgamated Bank increased its position in CenterPoint Energy by 3.5% in the second quarter. Amalgamated Bank now owns 55,555 shares of the utilities provider’s stock worth $1,539,000 after purchasing an additional 1,885 shares during the last quarter. Northpointe Capital LLC increased its position in CenterPoint Energy by 2.0% in the second quarter. Northpointe Capital LLC now owns 98,431 shares of the utilities provider’s stock worth $2,728,000 after purchasing an additional 1,927 shares during the last quarter. Finally, Zacks Investment Management increased its position in CenterPoint Energy by 5.1% in the second quarter. Zacks Investment Management now owns 43,053 shares of the utilities provider’s stock worth $1,193,000 after purchasing an additional 2,090 shares during the last quarter. Institutional investors own 66.61% of the company’s stock.

CNP has been the topic of several research reports. Zacks Investment Research upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Monday, July 23rd. Bank of America raised shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 28th. ValuEngine raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. JPMorgan Chase & Co. raised shares of CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 price objective for the company in a research note on Wednesday, September 5th. Finally, Wells Fargo & Co raised shares of CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Monday, October 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $29.25.

In other news, insider Milton Carroll sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $28.27, for a total transaction of $282,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott M. Prochazka sold 4,000 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $27.54, for a total transaction of $110,160.00. The disclosure for this sale can be found here. Insiders have sold 18,000 shares of company stock valued at $504,820 over the last ninety days. 0.22% of the stock is owned by insiders.

NYSE CNP opened at $28.12 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.95 and a debt-to-equity ratio of 1.66. The firm has a market cap of $13.91 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 2.95 and a beta of 0.44. CenterPoint Energy, Inc. has a 52 week low of $24.81 and a 52 week high of $30.17.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Friday, August 3rd. The utilities provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. CenterPoint Energy had a return on equity of 10.73% and a net margin of 15.43%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 earnings per share. Analysts predict that CenterPoint Energy, Inc. will post 1.6 EPS for the current fiscal year.

CenterPoint Energy Profile

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.

Further Reading: Price to Earnings Ratio (PE) Basics

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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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