Dynamic Technology Lab Private Ltd bought a new stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 79,036 shares of the utilities provider’s stock, valued at approximately $2,185,000.
A number of other hedge funds also recently bought and sold shares of the business. Oppenheimer & Co. Inc. grew its holdings in CenterPoint Energy by 18.9% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 11,129 shares of the utilities provider’s stock valued at $309,000 after buying an additional 1,771 shares in the last quarter. First Allied Advisory Services Inc. grew its holdings in CenterPoint Energy by 18.9% during the 2nd quarter. First Allied Advisory Services Inc. now owns 11,719 shares of the utilities provider’s stock valued at $331,000 after buying an additional 1,865 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of CenterPoint Energy by 5.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 38,624 shares of the utilities provider’s stock valued at $1,070,000 after acquiring an additional 1,989 shares during the last quarter. Zacks Investment Management boosted its position in shares of CenterPoint Energy by 5.1% during the 2nd quarter. Zacks Investment Management now owns 43,053 shares of the utilities provider’s stock valued at $1,193,000 after acquiring an additional 2,090 shares during the last quarter. Finally, Bank of Hawaii boosted its position in shares of CenterPoint Energy by 24.5% during the 3rd quarter. Bank of Hawaii now owns 10,865 shares of the utilities provider’s stock valued at $300,000 after acquiring an additional 2,140 shares during the last quarter. 79.72% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on CNP shares. Zacks Investment Research upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Wednesday, October 3rd. Wells Fargo & Co reiterated a “buy” rating on shares of CenterPoint Energy in a research report on Friday, November 9th. Barclays started coverage on CenterPoint Energy in a research report on Monday, October 22nd. They set a “hold” rating and a $30.00 price target for the company. ValuEngine upgraded CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 11th. Finally, JPMorgan Chase & Co. lifted their price target on CenterPoint Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $29.44.
In related news, CEO Scott M. Prochazka sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $27.09, for a total value of $108,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.22% of the company’s stock.
Shares of CNP opened at $28.05 on Thursday. The stock has a market cap of $14.06 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 3.01 and a beta of 0.46. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.54. CenterPoint Energy, Inc. has a 12-month low of $24.81 and a 12-month high of $29.36.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Thursday, November 8th. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.02). The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.26 billion. CenterPoint Energy had a net margin of 15.15% and a return on equity of 14.40%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 EPS. On average, equities analysts forecast that CenterPoint Energy, Inc. will post 1.57 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 15th will be given a $0.2775 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $1.11 dividend on an annualized basis and a yield of 3.96%. CenterPoint Energy’s payout ratio is 81.02%.
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About CenterPoint Energy
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.
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