CWM Advisors LLC boosted its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 16.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,722 shares of the utilities provider’s stock after acquiring an additional 4,439 shares during the period. CWM Advisors LLC’s holdings in CenterPoint Energy were worth $908,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. bought a new stake in shares of CenterPoint Energy during the first quarter valued at approximately $25,000. Flagship Harbor Advisors LLC boosted its stake in shares of CenterPoint Energy by 174.6% during the first quarter. Flagship Harbor Advisors LLC now owns 950 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 604 shares during the period. Global Retirement Partners LLC boosted its stake in shares of CenterPoint Energy by 2,455.4% during the first quarter. Global Retirement Partners LLC now owns 1,431 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 1,375 shares during the period. Bremer Bank National Association bought a new stake in shares of CenterPoint Energy in the first quarter valued at about $49,000. Finally, Resources Investment Advisors Inc. raised its holdings in shares of CenterPoint Energy by 1,415.1% in the first quarter. Resources Investment Advisors Inc. now owns 1,606 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 7,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $28.40, for a total transaction of $198,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Milton Carroll sold 19,780 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $29.70, for a total value of $587,466.00. Following the completion of the transaction, the insider now directly owns 98,301 shares of the company’s stock, valued at $2,919,539.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,780 shares of company stock worth $1,188,276. Company insiders own 0.24% of the company’s stock.
A number of equities analysts have commented on CNP shares. KeyCorp initiated coverage on shares of CenterPoint Energy in a report on Tuesday, June 4th. They issued a “sector weight” rating for the company. Bank of America upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating and set a $29.32 price objective on the stock in a research report on Thursday, June 13th. They noted that the move was a valuation call. Credit Suisse Group set a $33.00 price objective on CenterPoint Energy and gave the company a “buy” rating in a research note on Monday, April 22nd. Goldman Sachs Group raised their target price on CenterPoint Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. cut their target price on CenterPoint Energy from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, May 15th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. CenterPoint Energy has a consensus rating of “Buy” and an average target price of $31.85.
Shares of CenterPoint Energy stock opened at $27.57 on Friday. The business has a 50-day moving average of $28.70 and a 200 day moving average of $29.82. CenterPoint Energy, Inc. has a 12 month low of $26.74 and a 12 month high of $31.42. The stock has a market capitalization of $14.06 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 3.32 and a beta of 0.46. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.11 and a quick ratio of 0.95.
CenterPoint Energy (NYSE:CNP) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. CenterPoint Energy had a return on equity of 13.59% and a net margin of 5.55%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period last year, the business posted $0.30 EPS. CenterPoint Energy’s revenue for the quarter was up 28.0% on a year-over-year basis. Equities research analysts anticipate that CenterPoint Energy, Inc. will post 1.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 15th will be paid a $0.2875 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.15 annualized dividend and a dividend yield of 4.17%. CenterPoint Energy’s dividend payout ratio (DPR) 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.
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