Profund Advisors LLC reduced its stake in CenterPoint Energy Inc. (NYSE:CNP) by 9.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,444 shares of the company’s stock after selling 5,171 shares during the period. Profund Advisors LLC’s holdings in CenterPoint Energy were worth $1,125,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in CenterPoint Energy by 8.1% in the second quarter. Vanguard Group Inc. now owns 40,770,130 shares of the company’s stock valued at $978,482,000 after buying an additional 3,051,778 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of CenterPoint Energy by 52,437.7% in the third quarter. Victory Capital Management Inc. now owns 2,887,473 shares of the company’s stock worth $67,076,000 after buying an additional 2,881,977 shares during the period. Numeric Investors LLC raised its position in shares of CenterPoint Energy by 805.7% in the second quarter. Numeric Investors LLC now owns 2,383,000 shares of the company’s stock worth $57,192,000 after buying an additional 2,119,900 shares during the period. AQR Capital Management LLC raised its position in shares of CenterPoint Energy by 605.9% in the second quarter. AQR Capital Management LLC now owns 2,349,846 shares of the company’s stock worth $56,397,000 after buying an additional 2,016,960 shares during the period. Finally, State of Tennessee Treasury Department raised its position in shares of CenterPoint Energy by 1,888.4% in the third quarter. State of Tennessee Treasury Department now owns 1,900,578 shares of the company’s stock worth $44,150,000 after buying an additional 1,804,997 shares during the period. Institutional investors and hedge funds own 73.52% of the company’s stock.
Shares of CenterPoint Energy Inc. (NYSE:CNP) traded down 0.93% during mid-day trading on Thursday, hitting $25.44. The company’s stock had a trading volume of 2,461,033 shares. The company’s market cap is $10.96 billion. CenterPoint Energy Inc. has a 12-month low of $16.90 and a 12-month high of $25.81. The stock has a 50-day moving average of $24.63 and a 200-day moving average of $23.50.
CenterPoint Energy (NYSE:CNP) last released its earnings results on Friday, November 4th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.04. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.98 billion. CenterPoint Energy had a positive return on equity of 15.00% and a negative net margin of 2.46%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, equities research analysts forecast that CenterPoint Energy Inc. will post $1.18 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Thursday, February 16th will be paid a $0.2675 dividend. The ex-dividend date is Tuesday, February 14th. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.26. This represents a $1.07 dividend on an annualized basis and a dividend yield of 4.21%. CenterPoint Energy’s payout ratio is -245.24%.
CNP has been the topic of a number of recent analyst reports. SunTrust Banks Inc. increased their target price on CenterPoint Energy from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Monday, September 26th. Guggenheim initiated coverage on CenterPoint Energy in a research report on Thursday, November 3rd. They set a “buy” rating and a $25.00 target price on the stock. Credit Suisse Group AG lowered CenterPoint Energy from a “neutral” rating to an “underperform” rating and increased their target price for the company from $24.00 to $25.00 in a research report on Tuesday, November 8th. They noted that the move was a valuation call. Barclays PLC reiterated a “hold” rating and set a $27.00 target price on shares of CenterPoint Energy in a research report on Monday, January 9th. Finally, Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Monday, January 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $24.20.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company’s segments include Electric Transmission & Distribution, Natural Gas Distribution, Energy Services, Midstream Investments and Other Operations. Its Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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