Pacer Advisors Inc. cut its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 14.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,368 shares of the utilities provider’s stock after selling 8,264 shares during the quarter. Pacer Advisors Inc.’s holdings in CenterPoint Energy were worth $1,356,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of CNP. First Republic Investment Management Inc. grew its holdings in CenterPoint Energy by 2.9% in the 1st quarter. First Republic Investment Management Inc. now owns 12,339 shares of the utilities provider’s stock valued at $379,000 after buying an additional 353 shares in the last quarter. Bank of The West grew its holdings in CenterPoint Energy by 5.4% in the 2nd quarter. Bank of The West now owns 7,482 shares of the utilities provider’s stock valued at $214,000 after buying an additional 386 shares in the last quarter. 6 Meridian grew its holdings in CenterPoint Energy by 2.5% in the 2nd quarter. 6 Meridian now owns 16,492 shares of the utilities provider’s stock valued at $472,000 after buying an additional 396 shares in the last quarter. World Asset Management Inc grew its holdings in CenterPoint Energy by 1.4% in the 2nd quarter. World Asset Management Inc now owns 34,232 shares of the utilities provider’s stock valued at $980,000 after buying an additional 456 shares in the last quarter. Finally, Advisor Partners LLC grew its holdings in CenterPoint Energy by 4.9% in the 2nd quarter. Advisor Partners LLC now owns 11,389 shares of the utilities provider’s stock valued at $326,000 after buying an additional 535 shares in the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:CNP traded up $0.17 during trading on Friday, reaching $30.05. 48,443 shares of the company traded hands, compared to its average volume of 3,862,463. The company’s 50 day moving average is $28.23 and its two-hundred day moving average is $29.45. The firm has a market capitalization of $14.72 billion, a PE ratio of 18.78, a PEG ratio of 3.24 and a beta of 0.47. 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 52 week low of $26.74 and a 52 week high of $31.42.
CenterPoint Energy (NYSE:CNP) last released its earnings results on Wednesday, August 7th. The utilities provider reported $0.35 earnings per share 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 firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the prior year, the company posted $0.30 EPS. The company’s revenue 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 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 15th were given a dividend of $0.2875 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.15 annualized dividend and a dividend yield of 3.83%. CenterPoint Energy’s dividend payout ratio is currently 71.88%.
In related news, CEO Scott M. Prochazka sold 7,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $29.03, for a total transaction of $203,210.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 21,000 shares of company stock valued at $596,890. 0.24% of the stock is owned by corporate insiders.
A number of research analysts have commented on CNP shares. SunTrust Banks raised CenterPoint Energy from a “hold” rating to a “buy” rating and upped their price objective for the company from $30.00 to $32.00 in a report on Friday, September 6th. Stifel Nicolaus raised CenterPoint Energy from a “hold” rating to a “buy” rating and upped their price objective for the company from $30.00 to $32.00 in a report on Friday, September 6th. 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 report on Tuesday, July 2nd. Bank of America upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating and set a $29.32 target price for the company in a research report on Thursday, June 13th. They noted that the move was a valuation call. Finally, Barclays upgraded CenterPoint Energy from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $33.00 to $31.00 in a research report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $31.87.
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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