CenterPoint Energy, Inc. (CNP) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. cut its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,549 shares of the utilities provider’s stock after selling 2,424 shares during the period. Foster & Motley Inc.’s holdings in CenterPoint Energy were worth $1,204,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNP. BlackRock Inc. boosted its position in shares of CenterPoint Energy by 13.0% in the second quarter. BlackRock Inc. now owns 45,260,445 shares of the utilities provider’s stock worth $1,254,170,000 after acquiring an additional 5,189,512 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of CenterPoint Energy by 139.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,684,513 shares of the utilities provider’s stock worth $184,827,000 after acquiring an additional 3,889,363 shares during the last quarter. Millennium Management LLC boosted its position in shares of CenterPoint Energy by 1,227.8% in the second quarter. Millennium Management LLC now owns 3,452,630 shares of the utilities provider’s stock worth $95,672,000 after acquiring an additional 3,192,603 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of CenterPoint Energy by 2,384.3% in the second quarter. Canada Pension Plan Investment Board now owns 1,232,730 shares of the utilities provider’s stock worth $34,159,000 after acquiring an additional 1,183,109 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of CenterPoint Energy by 27.9% in the second quarter. Acadian Asset Management LLC now owns 4,640,194 shares of the utilities provider’s stock worth $128,578,000 after acquiring an additional 1,012,520 shares during the last quarter. 66.83% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on CNP shares. JPMorgan Chase & Co. raised their target price on shares of CenterPoint Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 9th. ValuEngine raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Zacks Investment Research cut shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. SunTrust Banks reaffirmed a “hold” rating and set a $30.00 price target on shares of CenterPoint Energy in a research report on Monday, August 6th. Finally, Wells Fargo & Co raised shares of CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research report on Monday, October 8th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $29.33.

In other news, CEO Scott M. Prochazka sold 4,000 shares of CenterPoint Energy stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $27.54, for a total transaction of $110,160.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Milton Carroll sold 10,000 shares of CenterPoint Energy stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $28.27, for a total transaction of $282,700.00. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.

Shares of CNP stock opened at $27.19 on Friday. The company has a market cap of $13.68 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 2.93 and a beta of 0.44. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.95. CenterPoint Energy, Inc. has a fifty-two week low of $24.81 and a fifty-two week high of $30.17.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Friday, August 3rd. The utilities provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. CenterPoint Energy had a net margin of 15.43% and a return on equity of 10.73%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.29 earnings per share. As a group, equities research analysts anticipate that CenterPoint Energy, Inc. will post 1.57 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 15th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.11 dividend on an annualized basis and a yield of 4.08%. CenterPoint Energy’s dividend payout ratio (DPR) is 81.02%.

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: Bull Market

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

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