Edgestream Partners L.P. Buys New Position in CenterPoint Energy, Inc. (NYSE:CNP)

Edgestream Partners L.P. purchased a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 28,113 shares of the utilities provider’s stock, valued at approximately $805,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CNP. Van Hulzen Asset Management LLC acquired a new position in shares of CenterPoint Energy during the 2nd quarter worth $253,000. Hallmark Capital Management Inc. purchased a new stake in CenterPoint Energy during the 2nd quarter worth about $2,216,000. Sawtooth Solutions LLC increased its position in CenterPoint Energy by 58.7% during the 2nd quarter. Sawtooth Solutions LLC now owns 49,844 shares of the utilities provider’s stock worth $1,427,000 after purchasing an additional 18,431 shares in the last quarter. Sciencast Management LP increased its position in CenterPoint Energy by 18.8% during the 2nd quarter. Sciencast Management LP now owns 29,275 shares of the utilities provider’s stock worth $839,000 after purchasing an additional 4,635 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in CenterPoint Energy by 35.8% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,816 shares of the utilities provider’s stock worth $109,000 after purchasing an additional 1,006 shares in the last quarter. 80.40% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Scott M. Prochazka sold 7,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $27.84, for a total value of $194,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 21,000 shares of company stock valued at $596,890. Company insiders own 0.24% of the company’s stock.

Several research firms have commented on CNP. SunTrust Banks upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and lifted their price target for the company from $30.00 to $32.00 in a report on Friday, September 6th. KeyCorp started coverage on CenterPoint Energy in a report on Tuesday, June 4th. They issued a “sector weight” rating for the company. Morgan Stanley boosted their target price on CenterPoint Energy from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Friday, June 14th. Goldman Sachs Group boosted their target price on CenterPoint Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Finally, Mizuho initiated coverage on CenterPoint Energy in a research report on Monday, June 3rd. They set a “buy” rating and a $31.00 price target on the stock. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $31.87.

Shares of CNP opened at $29.85 on Friday. The company has a market cap of $14.72 billion, a P/E ratio of 18.66, a PEG ratio of 3.24 and a beta of 0.47. The stock has a fifty day moving average price of $28.25 and a 200 day moving average price of $29.44. 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, Inc. has a 12 month low of $26.74 and a 12 month high of $31.42.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the prior year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, research analysts anticipate that CenterPoint Energy, Inc. will post 1.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 15th were paid a $0.2875 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $1.15 annualized dividend and a dividend yield of 3.85%. CenterPoint Energy’s payout ratio is 71.88%.

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

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