AMP Capital Investors Ltd grew its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 22.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 489,952 shares of the utilities provider’s stock after buying an additional 90,395 shares during the quarter. AMP Capital Investors Ltd’s holdings in CenterPoint Energy were worth $13,897,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of CNP. Tortoise Investment Management LLC bought a new stake in CenterPoint Energy during the third quarter worth about $120,000. NuWave Investment Management LLC bought a new stake in CenterPoint Energy during the fourth quarter worth about $132,000. SeaCrest Wealth Management LLC bought a new stake in CenterPoint Energy during the fourth quarter worth about $135,000. Welch Group LLC bought a new stake in CenterPoint Energy during the fourth quarter worth about $148,000. Finally, Buckingham Asset Management LLC bought a new stake in CenterPoint Energy during the third quarter worth about $201,000. 76.79% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Milton Carroll sold 43,363 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $27.20, for a total value of $1,179,473.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $26.99, for a total transaction of $26,990.00. The disclosure for this sale can be found here. Insiders have sold 46,363 shares of company stock worth $1,262,484 over the last quarter. 0.20% of the stock is owned by company insiders.
Several brokerages have weighed in on CNP. Zacks Investment Research raised shares of CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Tuesday, January 16th. SunTrust Banks reaffirmed a “hold” rating and set a $28.00 price objective on shares of CenterPoint Energy in a research note on Tuesday, December 26th. Citigroup upped their price objective on shares of CenterPoint Energy from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, November 20th. Finally, Guggenheim cut shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. They noted that the move was a valuation call. Nine research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. CenterPoint Energy presently has a consensus rating of “Hold” and an average target price of $29.10.
CenterPoint Energy, Inc. (CNP) opened at $27.43 on Tuesday. CenterPoint Energy, Inc. has a 12-month low of $25.84 and a 12-month high of $30.45. The stock has a market cap of $11,820.00, a P/E ratio of 17.47, a PEG ratio of 2.95 and a beta of 0.57. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.98 and a current ratio of 1.11.
CenterPoint Energy (NYSE:CNP) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.03. CenterPoint Energy had a net margin of 18.64% and a return on equity of 15.51%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the business earned $0.26 earnings per share. CenterPoint Energy’s quarterly revenue was up 26.8% on a year-over-year basis. research analysts anticipate that CenterPoint Energy, Inc. will post 1.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.05%. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, February 14th. CenterPoint Energy’s dividend payout ratio is presently 70.70%.
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CenterPoint Energy Profile
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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