Banque Cantonale Vaudoise Lowers Stock Position in CenterPoint Energy, Inc. (NYSE:CNP)

Banque Cantonale Vaudoise lessened its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 34.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,636 shares of the utilities provider’s stock after selling 3,500 shares during the quarter. Banque Cantonale Vaudoise’s holdings in CenterPoint Energy were worth $150,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. MAI Capital Management boosted its stake in CenterPoint Energy by 3.5% during the first quarter. MAI Capital Management now owns 12,246 shares of the utilities provider’s stock worth $277,000 after buying an additional 412 shares during the period. Cadence Bank NA boosted its stake in shares of CenterPoint Energy by 2.9% in the first quarter. Cadence Bank NA now owns 16,083 shares of the utilities provider’s stock valued at $364,000 after purchasing an additional 448 shares during the period. Synovus Financial Corp boosted its stake in shares of CenterPoint Energy by 3.4% in the fourth quarter. Synovus Financial Corp now owns 15,305 shares of the utilities provider’s stock valued at $331,000 after purchasing an additional 508 shares during the period. Usca Ria LLC boosted its stake in shares of CenterPoint Energy by 1.7% in the first quarter. Usca Ria LLC now owns 34,012 shares of the utilities provider’s stock valued at $770,000 after purchasing an additional 557 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of CenterPoint Energy by 1.9% in the fourth quarter. Bessemer Group Inc. now owns 33,461 shares of the utilities provider’s stock valued at $725,000 after purchasing an additional 611 shares during the period. 89.02% of the stock is owned by institutional investors.

Several research analysts have recently commented on the stock. Mizuho raised their price objective on shares of CenterPoint Energy from $25.50 to $27.00 and gave the company a “buy” rating in a research note on Thursday, May 13th. They noted that the move was a valuation call. Barclays raised their price objective on shares of CenterPoint Energy from $25.00 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 25th. Credit Suisse Group raised their price objective on shares of CenterPoint Energy from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, April 16th. TheStreet raised shares of CenterPoint Energy from a “c” rating to a “b-” rating in a report on Thursday, May 6th. Finally, Bank of America raised shares of CenterPoint Energy from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Monday, May 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. CenterPoint Energy presently has a consensus rating of “Hold” and an average target price of $24.90.

In other CenterPoint Energy news, CFO Jason P. Wells bought 10,000 shares of the business’s stock in a transaction dated Tuesday, May 11th. The shares were acquired at an average cost of $24.06 per share, with a total value of $240,600.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David J. Lesar bought 50,000 shares of the business’s stock in a transaction dated Thursday, May 13th. The stock was acquired at an average cost of $23.58 per share, for a total transaction of $1,179,000.00. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by company insiders.

CNP stock opened at $25.95 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.66 and a debt-to-equity ratio of 2.21. CenterPoint Energy, Inc. has a twelve month low of $17.34 and a twelve month high of $26.03. The business’s 50 day moving average is $24.42. The firm has a market capitalization of $15.06 billion, a PE ratio of 24.25, a P/E/G ratio of 4.19 and a beta of 0.98.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, May 6th. The utilities provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.09. CenterPoint Energy had a net margin of 10.12% and a return on equity of 16.59%. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the company earned $0.65 earnings per share. On average, equities analysts predict that CenterPoint Energy, Inc. will post 1.43 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 10th. Shareholders of record on Thursday, May 20th were issued a dividend of $0.16 per share. The ex-dividend date was Wednesday, May 19th. This represents a $0.64 dividend on an annualized basis and a yield of 2.47%. CenterPoint Energy’s payout ratio is currently 45.71%.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric, Natural Gas, and Midstream Investments segments. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as assets in the wholesale power market.

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

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