Securian Asset Management Inc raised its position in CenterPoint Energy, Inc. (NYSE:CNP) by 7.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 153,183 shares of the utilities provider’s stock after buying an additional 11,151 shares during the period. Securian Asset Management Inc’s holdings in CenterPoint Energy were worth $4,702,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CNP. World Asset Management Inc raised its stake in shares of CenterPoint Energy by 11.3% in the 1st quarter. World Asset Management Inc now owns 33,776 shares of the utilities provider’s stock valued at $1,037,000 after purchasing an additional 3,442 shares during the period. Assenagon Asset Management S.A. increased its position in shares of CenterPoint Energy by 8.2% in the first quarter. Assenagon Asset Management S.A. now owns 18,500 shares of the utilities provider’s stock valued at $568,000 after acquiring an additional 1,400 shares during the last quarter. Courier Capital LLC bought a new position in CenterPoint Energy during the first quarter worth about $203,000. Virginia Retirement Systems ET AL grew its holdings in CenterPoint Energy by 73.0% during the first quarter. Virginia Retirement Systems ET AL now owns 1,127,200 shares of the utilities provider’s stock worth $34,605,000 after purchasing an additional 475,800 shares during the period. Finally, Creative Planning grew its holdings in CenterPoint Energy by 2.3% during the first quarter. Creative Planning now owns 55,082 shares of the utilities provider’s stock worth $1,691,000 after purchasing an additional 1,225 shares during the period. Hedge funds and other institutional investors own 81.33% of the company’s stock.
NYSE CNP traded up $0.03 on Wednesday, reaching $29.55. The company had a trading volume of 6,216,812 shares, compared to its average volume of 4,772,976. The company has a market capitalization of $14.95 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 3.40 and a beta of 0.45. CenterPoint Energy, Inc. has a fifty-two week low of $25.10 and a fifty-two week high of $31.42. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 2.12.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.06). The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.84 billion. CenterPoint Energy had a net margin of 3.39% and a return on equity of 13.31%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share. Research analysts expect that CenterPoint Energy, Inc. will post 1.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.2875 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.89%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 71.88%.
A number of equities analysts recently commented on CNP shares. ValuEngine upgraded CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Zacks Investment Research cut CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. Goldman Sachs Group started coverage on CenterPoint Energy in a report on Monday, February 25th. They set a “buy” rating and a $34.00 price objective for the company. Wells Fargo & Co restated a “buy” rating on shares of CenterPoint Energy in a report on Thursday, February 28th. Finally, Credit Suisse Group set a $32.00 price target on CenterPoint Energy and gave the company a “buy” rating in a research note on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $32.33.
In related news, CEO Scott M. Prochazka sold 7,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $30.58, for a total value of $214,060.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Joseph John Vortherms sold 2,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $30.10, for a total transaction of $60,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 166,780 shares of company stock worth $5,021,616 in the last three months. Insiders own 0.24% of the company’s stock.
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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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