Traders Sell CenterPoint Energy (CNP) on Strength Following Weak Earnings

Traders sold shares of CenterPoint Energy, Inc. (NYSE:CNP) on strength during trading hours on Friday following a dissappointing earnings announcement. $14.38 million flowed into the stock on the tick-up and $35.08 million flowed out of the stock on the tick-down, for a money net flow of $20.70 million out of the stock. Of all equities tracked, CenterPoint Energy had the 30th highest net out-flow for the day. CenterPoint Energy traded up $0.07 for the day and closed at $28.13The utilities provider reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.26 billion. CenterPoint Energy had a return on equity of 10.73% and a net margin of 15.43%. CenterPoint Energy’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 15th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.95%. CenterPoint Energy’s dividend payout ratio is 81.02%.

A number of equities analysts have recently weighed in on the company. ValuEngine upgraded CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. JPMorgan Chase & Co. upped their target price on CenterPoint Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, October 9th. Barclays assumed coverage on CenterPoint Energy in a report on Monday, October 22nd. They issued a “hold” rating and a $30.00 target price on the stock. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of CenterPoint Energy in a report on Friday. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. CenterPoint Energy presently has an average rating of “Hold” and a consensus price target of $29.33.

In other news, CEO Scott M. Prochazka sold 4,000 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $27.09, for a total value of $108,360.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.22% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Braun Bostich & Associates Inc. grew its stake in shares of CenterPoint Energy by 1,372.0% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 4,151 shares of the utilities provider’s stock valued at $115,000 after buying an additional 3,869 shares in the last quarter. Ropes Wealth Advisors LLC bought a new stake in shares of CenterPoint Energy in the 2nd quarter valued at approximately $130,000. Signet Financial Management LLC grew its stake in shares of CenterPoint Energy by 649.6% in the 2nd quarter. Signet Financial Management LLC now owns 5,322 shares of the utilities provider’s stock valued at $147,000 after buying an additional 4,612 shares in the last quarter. FNY Investment Advisers LLC grew its stake in shares of CenterPoint Energy by 2,962.2% in the 3rd quarter. FNY Investment Advisers LLC now owns 6,400 shares of the utilities provider’s stock valued at $176,000 after buying an additional 6,191 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of CenterPoint Energy by 422.1% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,396 shares of the utilities provider’s stock valued at $177,000 after buying an additional 5,171 shares in the last quarter. 67.52% of the stock is owned by institutional investors and hedge funds.

The company has a market cap of $13.93 billion, a P/E ratio of 20.53, a P/E/G ratio of 2.99 and a beta of 0.43. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.95 and a quick ratio of 0.83.

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CenterPoint Energy Company Profile (NYSE:CNP)

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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