Ontario Teachers Pension Plan Board trimmed its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 42.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,621 shares of the utilities provider’s stock after selling 116,647 shares during the period. Ontario Teachers Pension Plan Board’s holdings in CenterPoint Energy were worth $4,331,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Braun Bostich & Associates Inc. increased its holdings in CenterPoint Energy by 1,372.0% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 4,151 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 3,869 shares in the last quarter. Ropes Wealth Advisors LLC acquired a new stake in CenterPoint Energy during the 2nd quarter valued at $130,000. Signet Financial Management LLC increased its holdings in CenterPoint Energy by 649.6% during the 2nd quarter. Signet Financial Management LLC now owns 5,322 shares of the utilities provider’s stock valued at $147,000 after purchasing an additional 4,612 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in CenterPoint Energy by 422.1% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,396 shares of the utilities provider’s stock valued at $177,000 after purchasing an additional 5,171 shares in the last quarter. Finally, FNY Investment Advisers LLC increased its holdings in CenterPoint Energy by 2,962.2% during the 3rd quarter. FNY Investment Advisers LLC now owns 6,400 shares of the utilities provider’s stock valued at $176,000 after purchasing an additional 6,191 shares in the last quarter. 69.97% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Scott M. Prochazka sold 4,000 shares of CenterPoint Energy stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $27.09, for a total value of $108,360.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by company insiders.
CenterPoint Energy (NYSE:CNP) last released its earnings results on Thursday, November 8th. The utilities provider reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.26 billion. CenterPoint Energy had a net margin of 15.15% and a return on equity of 14.40%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $0.38 earnings per share. As a group, equities research analysts expect that CenterPoint Energy, Inc. will post 1.57 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 15th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.11 annualized dividend and a dividend yield of 4.01%. CenterPoint Energy’s dividend payout ratio (DPR) is currently 81.02%.
A number of equities research analysts recently weighed in on CNP shares. JPMorgan Chase & Co. raised their price target on CenterPoint Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, October 9th. 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. ValuEngine cut CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Monday, August 6th. SunTrust Banks reaffirmed a “hold” rating and set a $30.00 price target on shares of CenterPoint Energy in a report on Monday, August 6th. Finally, Barclays assumed coverage on CenterPoint Energy in a research note on Monday, October 22nd. They issued a “hold” rating and a $30.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.44.
CenterPoint Energy 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.
Further Reading: Earnings Reports
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