Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,133 shares of the utilities provider’s stock, valued at approximately $64,000.
A number of other institutional investors and hedge funds also recently modified their holdings of CNP. DekaBank Deutsche Girozentrale boosted its stake in shares of CenterPoint Energy by 134.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,622,538 shares of the utilities provider’s stock worth $46,308,000 after buying an additional 931,444 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of CenterPoint Energy in the 2nd quarter worth approximately $1,029,000. Crossmark Global Holdings Inc. boosted its stake in shares of CenterPoint Energy by 3.7% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 45,561 shares of the utilities provider’s stock worth $1,304,000 after buying an additional 1,641 shares during the last quarter. LPL Financial LLC boosted its stake in shares of CenterPoint Energy by 1.4% in the 2nd quarter. LPL Financial LLC now owns 126,886 shares of the utilities provider’s stock worth $3,633,000 after buying an additional 1,769 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of CenterPoint Energy by 18.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 522,031 shares of the utilities provider’s stock worth $14,946,000 after buying an additional 80,050 shares during the last quarter. 80.21% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the company. SunTrust Banks upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and boosted their target price for the stock from $30.00 to $32.00 in a research note on Friday, September 6th. Barclays upgraded CenterPoint Energy from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $33.00 to $31.00 in a research note on Tuesday, August 13th. Wells Fargo & Co dropped their price objective on CenterPoint Energy from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 18th. Goldman Sachs Group upped their price objective on CenterPoint Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, Morgan Stanley upped their price objective on CenterPoint Energy from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Friday, June 14th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $32.02.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 7,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $30.06, for a total transaction of $210,420.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 21,000 shares of company stock worth $608,510. Company insiders own 0.24% of the company’s stock.
CenterPoint Energy stock opened at $28.27 on Friday. CenterPoint Energy, Inc. has a 12 month low of $26.74 and a 12 month high of $31.42. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 2.17. The business’s 50 day simple moving average is $28.99 and its 200 day simple moving average is $29.33. The company has a market cap of $14.13 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 3.11 and a beta of 0.48.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.31 by $0.04. CenterPoint Energy had a return on equity of 13.59% and a net margin of 5.55%. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. CenterPoint Energy’s revenue for the quarter was up 28.0% on a year-over-year basis. As a group, equities research analysts forecast that CenterPoint Energy, Inc. will post 1.66 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 15th were given a dividend of $0.2875 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.15 annualized dividend and a dividend yield of 4.07%. CenterPoint Energy’s dividend payout ratio is currently 71.88%.
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: Stock Portfolio Tracker
Want to see what other hedge funds are holding CNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CenterPoint Energy, Inc. (NYSE:CNP).
Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.