Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 444,632 shares of the utilities provider’s stock after selling 10,747 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CenterPoint Energy were worth $12,730,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. US Bancorp DE boosted its position in shares of CenterPoint Energy by 21.6% during the first quarter. US Bancorp DE now owns 86,928 shares of the utilities provider’s stock worth $2,670,000 after purchasing an additional 15,417 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of CenterPoint Energy by 3.7% during the second quarter. Crossmark Global Holdings Inc. now owns 45,561 shares of the utilities provider’s stock worth $1,304,000 after purchasing an additional 1,641 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of CenterPoint Energy by 13.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 52,569 shares of the utilities provider’s stock worth $1,614,000 after purchasing an additional 6,107 shares in the last quarter. Simmons Bank bought a new position in shares of CenterPoint Energy during the first quarter worth $215,000. Finally, Twin Capital Management Inc. boosted its position in shares of CenterPoint Energy by 1.9% during the first quarter. Twin Capital Management Inc. now owns 137,830 shares of the utilities provider’s stock worth $4,231,000 after purchasing an additional 2,630 shares in the last quarter. 78.07% of the stock is currently owned by institutional investors.
NYSE:CNP traded down $0.21 on Friday, hitting $27.62. 3,529,251 shares of the company’s stock were exchanged, compared to its average volume of 4,415,877. The business has a 50-day simple moving average of $28.94. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.97 and a current ratio of 1.11. CenterPoint Energy, Inc. has a 52 week low of $26.74 and a 52 week high of $31.42. The stock has a market capitalization of $13.98 billion, a P/E ratio of 17.26, a P/E/G ratio of 3.23 and a beta of 0.46.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 15th will be paid a $0.2875 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.15 dividend on an annualized basis and a yield of 4.16%. CenterPoint Energy’s dividend payout ratio (DPR) is currently 71.88%.
A number of equities analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of CenterPoint Energy in a research report on Monday, June 3rd. They set a “buy” rating and a $31.00 price target on the stock. Credit Suisse Group set a $33.00 price objective on shares of CenterPoint Energy and gave the company a “buy” rating in a research report on Monday, April 22nd. JPMorgan Chase & Co. cut their price objective on shares of CenterPoint Energy from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 15th. Morgan Stanley boosted their price objective on shares of CenterPoint Energy from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Friday, June 14th. Finally, Goldman Sachs Group boosted their price objective on shares of CenterPoint Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.85.
In related news, Chairman Milton Carroll sold 12,000 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $29.76, for a total value of $357,120.00. Following the transaction, the chairman now owns 98,301 shares in the company, valued at approximately $2,925,437.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Scott M. Prochazka sold 7,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $29.03, for a total transaction of $203,210.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,780 shares of company stock worth $1,545,396. 0.24% of the stock is owned by company insiders.
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.
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