Dana Investment Advisors Inc. Acquires 5,516 Shares of CenterPoint Energy, Inc. (CNP)

Dana Investment Advisors Inc. increased its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 1.0% during the second quarter, HoldingsChannel.com reports. The fund owned 535,715 shares of the utilities provider’s stock after buying an additional 5,516 shares during the period. Dana Investment Advisors Inc.’s holdings in CenterPoint Energy were worth $14,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Comerica Bank increased its holdings in shares of CenterPoint Energy by 5.0% in the 2nd quarter. Comerica Bank now owns 230,613 shares of the utilities provider’s stock valued at $6,390,000 after acquiring an additional 11,079 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of CenterPoint Energy by 10.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,396,810 shares of the utilities provider’s stock valued at $38,706,000 after acquiring an additional 135,818 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of CenterPoint Energy by 242.5% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 605,954 shares of the utilities provider’s stock valued at $16,791,000 after acquiring an additional 429,010 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of CenterPoint Energy by 4.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 59,187 shares of the utilities provider’s stock valued at $1,640,000 after acquiring an additional 2,378 shares during the period. Finally, TD Asset Management Inc. increased its holdings in shares of CenterPoint Energy by 22.8% in the 2nd quarter. TD Asset Management Inc. now owns 2,256,257 shares of the utilities provider’s stock valued at $62,521,000 after acquiring an additional 419,293 shares during the period. 79.02% of the stock is currently owned by institutional investors and hedge funds.

Shares of CenterPoint Energy opened at $27.93 on Thursday, according to Marketbeat.com. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a market capitalization of $12.29 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 3.23 and a beta of 0.51. CenterPoint Energy, Inc. has a 1 year low of $24.81 and a 1 year high of $30.45.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Friday, May 4th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.11. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $2.69 billion. CenterPoint Energy had a net margin of 17.59% and a return on equity of 16.22%. CenterPoint Energy’s revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. equities research analysts expect that CenterPoint Energy, Inc. will post 1.61 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 13th. Stockholders of record on Thursday, August 16th will be paid a dividend of $0.2775 per share. The ex-dividend date is Wednesday, August 15th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.97%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 81.02%.

In other news, CEO Scott M. Prochazka sold 4,000 shares of the company’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $27.57, for a total transaction of $110,280.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Milton Carroll sold 62,779 shares of the company’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $26.10, for a total transaction of $1,638,531.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,979 shares of company stock worth $1,936,260. Corporate insiders own 0.22% of the company’s stock.

CNP has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of CenterPoint Energy from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, April 10th. SunTrust Banks reissued a “hold” rating and issued a $27.00 price objective on shares of CenterPoint Energy in a research note on Monday, April 16th. Bank of America initiated coverage on shares of CenterPoint Energy in a research note on Wednesday, April 25th. They issued a “neutral” rating and a $25.00 price objective on the stock. Zacks Investment Research cut shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, April 25th. Finally, ValuEngine cut shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Seven analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $28.25.

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.

Featured Story: Market Capitalization and Individual Investors

Want to see what other hedge funds are holding CNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CenterPoint Energy, Inc. (NYSE:CNP).

Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply