Hanson & Doremus Investment Management Reduces Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Hanson & Doremus Investment Management decreased its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 13.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,146 shares of the utilities provider’s stock after selling 995 shares during the quarter. Hanson & Doremus Investment Management’s holdings in CenterPoint Energy were worth $185,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CNP. Marshall Wace North America L.P. increased its holdings in shares of CenterPoint Energy by 1,846.4% in the 1st quarter. Marshall Wace North America L.P. now owns 25,732 shares of the utilities provider’s stock valued at $790,000 after acquiring an additional 24,410 shares during the period. Rehmann Capital Advisory Group grew its stake in CenterPoint Energy by 26.5% during the 1st quarter. Rehmann Capital Advisory Group now owns 2,760 shares of the utilities provider’s stock worth $85,000 after buying an additional 578 shares during the last quarter. Nordea Investment Management AB grew its stake in CenterPoint Energy by 28.6% during the 1st quarter. Nordea Investment Management AB now owns 25,284 shares of the utilities provider’s stock worth $776,000 after buying an additional 5,628 shares during the last quarter. Pensionfund DSM Netherlands purchased a new position in CenterPoint Energy during the 2nd quarter worth $2,262,000. Finally, Pensionfund Sabic purchased a new position in CenterPoint Energy during the 2nd quarter worth $1,489,000. 80.30% of the stock is currently owned by institutional investors.

In other CenterPoint Energy news, CEO Scott M. Prochazka sold 7,000 shares of CenterPoint Energy stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $27.84, for a total transaction of $194,880.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 21,000 shares of company stock valued at $608,510. 0.24% of the stock is currently owned by insiders.

Shares of CNP opened at $28.64 on Friday. The stock has a 50-day moving average of $29.10 and a two-hundred day moving average of $29.25. CenterPoint Energy, Inc. has a one year low of $26.74 and a one year high of $31.42. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.95 and a current ratio of 1.11. The stock has a market cap of $14.42 billion, a P/E ratio of 18.40, a P/E/G ratio of 3.32 and a beta of 0.48.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.04. CenterPoint Energy had a return on equity of 13.59% and a net margin of 5.55%. The company had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the firm posted $0.30 EPS. The firm’s revenue was up 28.0% compared to the same quarter last year. Analysts predict that CenterPoint Energy, Inc. will post 1.66 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 4.02%. CenterPoint Energy’s dividend payout ratio is currently 71.88%.

Several brokerages recently weighed in on CNP. Wells Fargo & Co dropped their target price on CenterPoint Energy from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 18th. UBS Group dropped their target price on CenterPoint Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday. Goldman Sachs Group boosted their target price on CenterPoint Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. SunTrust Banks upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and boosted their target price for the stock from $30.00 to $32.00 in a research note on Friday, September 6th. Finally, Stifel Nicolaus upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and boosted their target price for the stock from $30.00 to $32.00 in a research note on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $31.79.

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

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