Los Angeles Capital Management & Equity Research Inc. trimmed its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 12.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,596 shares of the utilities provider’s stock after selling 30,430 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in CenterPoint Energy were worth $6,287,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of CenterPoint Energy in the 1st quarter valued at $25,000. Flagship Harbor Advisors LLC increased its stake in shares of CenterPoint Energy by 174.6% in the 1st quarter. Flagship Harbor Advisors LLC now owns 950 shares of the utilities provider’s stock valued at $29,000 after buying an additional 604 shares during the period. Global Retirement Partners LLC increased its stake in shares of CenterPoint Energy by 2,455.4% in the 1st quarter. Global Retirement Partners LLC now owns 1,431 shares of the utilities provider’s stock valued at $44,000 after buying an additional 1,375 shares during the period. Bremer Bank National Association acquired a new stake in shares of CenterPoint Energy in the 1st quarter valued at $49,000. Finally, Resources Investment Advisors Inc. increased its stake in shares of CenterPoint Energy by 1,415.1% in the 1st quarter. Resources Investment Advisors Inc. now owns 1,606 shares of the utilities provider’s stock valued at $49,000 after buying an additional 1,500 shares during the period. 77.90% of the stock is owned by hedge funds and other institutional investors.
Shares of CenterPoint Energy stock traded up $0.20 during trading on Tuesday, reaching $27.96. 106,918 shares of the company were exchanged, compared to its average volume of 4,452,467. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 2.17. CenterPoint Energy, Inc. has a twelve month low of $26.74 and a twelve month high of $31.42. The business’s 50-day simple moving average is $28.80. The stock has a market cap of $13.87 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 3.27 and a beta of 0.46.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.35 EPS for the quarter, topping 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 business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 28.0% compared to the same quarter last year. On average, analysts expect that CenterPoint Energy, Inc. will post 1.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.2875 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.15 annualized dividend and a yield of 4.11%. CenterPoint Energy’s dividend payout ratio is presently 71.88%.
CNP has been the subject of several research reports. KeyCorp initiated coverage on CenterPoint Energy in a research note on Tuesday, June 4th. They issued a “sector weight” rating for the company. Goldman Sachs Group lifted their price objective on CenterPoint Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Bank of America raised CenterPoint Energy from a “neutral” rating to a “buy” rating and set a $29.32 price objective for the company in a research note on Thursday, June 13th. They noted that the move was a valuation call. Mizuho began coverage on CenterPoint Energy in a research note on Monday, June 3rd. They set a “buy” rating and a $31.00 price objective for the company. Finally, Barclays raised CenterPoint Energy from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $33.00 to $31.00 in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $31.85.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 7,000 shares of CenterPoint Energy stock in a transaction dated Monday, July 1st. 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 document filed with the SEC, which can be accessed through this link. Also, Chairman Milton Carroll sold 12,000 shares of CenterPoint Energy stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $29.76, for a total value of $357,120.00. Following the transaction, the chairman now owns 98,301 shares in the company, valued at $2,925,437.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,780 shares of company stock worth $1,545,396. Corporate insiders own 0.24% of the company’s stock.
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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