O Shares Investment Advisers LLC grew its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 3.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 20,276 shares of the utilities provider’s stock after purchasing an additional 592 shares during the period. O Shares Investment Advisers LLC’s holdings in CenterPoint Energy were worth $622,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc boosted its stake in shares of CenterPoint Energy by 10.6% in the 3rd quarter. Vanguard Group Inc now owns 54,775,862 shares of the utilities provider’s stock worth $1,514,553,000 after buying an additional 5,270,138 shares during the last quarter. BlackRock Inc. increased its stake in CenterPoint Energy by 2.1% during the fourth quarter. BlackRock Inc. now owns 50,135,104 shares of the utilities provider’s stock worth $1,415,315,000 after acquiring an additional 1,025,294 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of CenterPoint Energy by 16.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,788,204 shares of the utilities provider’s stock valued at $219,860,000 after buying an additional 1,103,691 shares during the period. Geode Capital Management LLC boosted its position in shares of CenterPoint Energy by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 7,131,126 shares of the utilities provider’s stock valued at $200,993,000 after buying an additional 550,475 shares during the period. Finally, FMR LLC boosted its holdings in shares of CenterPoint Energy by 114.6% in the fourth quarter. FMR LLC now owns 6,472,243 shares of the utilities provider’s stock valued at $182,711,000 after purchasing an additional 3,456,131 shares during the period. Hedge funds and other institutional investors own 78.35% of the company’s stock.
In other CenterPoint Energy news, insider Milton Carroll sold 19,780 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $29.70, for a total transaction of $587,466.00. Following the transaction, the insider now owns 98,301 shares of the company’s stock, valued at approximately $2,919,539.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott M. Prochazka sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $30.90, for a total transaction of $216,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 52,780 shares of company stock worth $1,573,746 over the last quarter. 0.24% of the stock is currently owned by insiders.
CNP has been the topic of several research reports. Mizuho started coverage on CenterPoint Energy in a research report on Monday, June 3rd. They issued a “buy” rating and a $31.00 target price on the stock. Goldman Sachs Group assumed coverage on shares of CenterPoint Energy in a research note on Monday, February 25th. They issued a “buy” rating and a $34.00 price target on the stock. Credit Suisse Group set a $32.00 price objective on shares of CenterPoint Energy and gave the company a “buy” rating in a report on Friday, March 1st. Wells Fargo & Co restated a “buy” rating on shares of CenterPoint Energy in a report on Thursday, February 28th. Finally, ValuEngine cut shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $32.00.
Shares of CNP stock traded up $0.33 on Wednesday, hitting $28.97. The stock had a trading volume of 84,562 shares, compared to its average volume of 4,789,022. The company has a market capitalization of $14.53 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 3.22 and a beta of 0.51. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 2.12. CenterPoint Energy, Inc. has a 52-week low of $25.27 and a 52-week high of $31.42.
CenterPoint Energy (NYSE:CNP) last announced its earnings results on Thursday, May 9th. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.06). The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.84 billion. CenterPoint Energy had a net margin of 3.39% and a return on equity of 13.31%. CenterPoint Energy’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.55 earnings per share. Equities research analysts predict that CenterPoint Energy, Inc. will post 1.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.2875 per share. The ex-dividend date is Wednesday, May 15th. This represents a $1.15 dividend on an annualized basis and a yield of 3.97%. CenterPoint Energy’s dividend payout ratio (DPR) is 71.88%.
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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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