DnB Asset Management AS reduced its stake in shares of CenterPoint Energy Inc. (NYSE:CNP) by 3.8% during the third quarter, Holdings Channel reports. The firm owned 28,113 shares of the company’s stock after selling 1,100 shares during the period. DnB Asset Management AS’s holdings in CenterPoint Energy were worth $653,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in CenterPoint Energy during the third quarter valued at $3,803,000. Chicago Equity Partners LLC raised its stake in CenterPoint Energy by 274.7% in the third quarter. Chicago Equity Partners LLC now owns 77,695 shares of the company’s stock valued at $1,805,000 after buying an additional 56,960 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in CenterPoint Energy by 3.8% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 64,938 shares of the company’s stock valued at $1,509,000 after buying an additional 2,359 shares during the period. Shell Asset Management Co. raised its stake in CenterPoint Energy by 95.0% in the third quarter. Shell Asset Management Co. now owns 37,539 shares of the company’s stock valued at $872,000 after buying an additional 18,290 shares during the period. Finally, Great West Life Assurance Co. Can raised its stake in CenterPoint Energy by 8.1% in the third quarter. Great West Life Assurance Co. Can now owns 635,782 shares of the company’s stock valued at $14,767,000 after buying an additional 47,778 shares during the period. 73.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of CenterPoint Energy Inc. (NYSE:CNP) traded down 0.93% during midday trading on Thursday, reaching $25.44. The company’s stock had a trading volume of 2,461,033 shares. CenterPoint Energy Inc. has a 12-month low of $16.90 and a 12-month high of $25.81. The company’s 50-day moving average price is $24.63 and its 200 day moving average price is $23.50. The company’s market capitalization is $10.96 billion.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Friday, November 4th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. CenterPoint Energy had a positive return on equity of 15.00% and a negative net margin of 2.46%. The firm earned $1.89 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period in the prior year, the business earned $0.34 EPS. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, equities research analysts forecast that CenterPoint Energy Inc. will post $1.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Thursday, February 16th will be issued a dividend of $0.2675 per share. The ex-dividend date is Tuesday, February 14th. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.26. This represents a $1.07 annualized dividend and a yield of 4.21%. CenterPoint Energy’s dividend payout ratio is currently -245.24%.
CNP has been the topic of a number of recent research reports. Zacks Investment Research raised CenterPoint Energy from a “hold” rating to a “strong-buy” rating and set a $29.00 price target on the stock in a research note on Wednesday, January 11th. TheStreet raised CenterPoint Energy from a “c+” rating to a “b-” rating in a research note on Tuesday, January 10th. Barclays PLC reissued a “hold” rating and set a $27.00 price target on shares of CenterPoint Energy in a research note on Monday, January 9th. Credit Suisse Group AG lowered CenterPoint Energy from a “neutral” rating to an “underperform” rating and lifted their price target for the company from $24.00 to $25.00 in a research note on Tuesday, November 8th. They noted that the move was a valuation call. Finally, Guggenheim initiated coverage on CenterPoint Energy in a research note on Thursday, November 3rd. They set a “buy” rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price 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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