CenterPoint Energy, Inc. (CNP) Stake Raised by Park Avenue Securities LLC

Park Avenue Securities LLC grew its position in CenterPoint Energy, Inc. (NYSE:CNP) by 31.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,902 shares of the utilities provider’s stock after purchasing an additional 4,496 shares during the period. Park Avenue Securities LLC’s holdings in CenterPoint Energy were worth $521,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of CenterPoint Energy by 13.0% in the second quarter. BlackRock Inc. now owns 45,260,445 shares of the utilities provider’s stock valued at $1,254,170,000 after buying an additional 5,189,512 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of CenterPoint Energy by 139.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,684,513 shares of the utilities provider’s stock valued at $184,827,000 after buying an additional 3,889,363 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of CenterPoint Energy by 2.3% in the second quarter. Wells Fargo & Company MN now owns 5,940,888 shares of the utilities provider’s stock valued at $164,622,000 after buying an additional 131,358 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of CenterPoint Energy by 27.9% in the second quarter. Acadian Asset Management LLC now owns 4,640,194 shares of the utilities provider’s stock valued at $128,578,000 after buying an additional 1,012,520 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd raised its holdings in shares of CenterPoint Energy by 12.2% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 4,404,926 shares of the utilities provider’s stock valued at $121,796,000 after buying an additional 480,169 shares during the last quarter. Institutional investors own 67.52% of the company’s stock.

A number of research analysts recently issued reports on the company. ValuEngine cut CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Monday, August 6th. JPMorgan Chase & Co. raised CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 price target for the company in a report on Wednesday, September 5th. Zacks Investment Research raised CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Monday, July 23rd. Barclays assumed coverage on CenterPoint Energy in a report on Monday, October 22nd. They issued a “hold” rating and a $30.00 price target for the company. Finally, Wells Fargo & Co raised CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Monday, October 8th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $29.33.

In other CenterPoint Energy news, CEO Scott M. Prochazka sold 4,000 shares of the business’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $27.09, for a total transaction of $108,360.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.22% of the company’s stock.

Shares of NYSE:CNP opened at $28.32 on Thursday. The stock has a market cap of $13.93 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 2.99 and a beta of 0.43. CenterPoint Energy, Inc. has a 1-year low of $24.81 and a 1-year high of $30.17. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.95 and a quick ratio of 0.83.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Thursday, November 8th. The utilities provider reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.26 billion. CenterPoint Energy had a return on equity of 10.73% and a net margin of 15.43%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 earnings per share. As a group, sell-side analysts expect that CenterPoint Energy, Inc. will post 1.57 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.11 annualized dividend and a yield of 3.92%. CenterPoint Energy’s dividend payout ratio is currently 81.02%.

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About CenterPoint Energy

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

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