QS Investors LLC raised its position in CenterPoint Energy, Inc. (NYSE:CNP) by 78.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 459,450 shares of the utilities provider’s stock after buying an additional 201,407 shares during the period. QS Investors LLC’s holdings in CenterPoint Energy were worth $13,030,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Cypress Capital Group acquired a new stake in CenterPoint Energy in the 4th quarter worth about $342,000. AMP Capital Investors Ltd boosted its holdings in CenterPoint Energy by 22.6% in the 4th quarter. AMP Capital Investors Ltd now owns 489,952 shares of the utilities provider’s stock worth $13,897,000 after buying an additional 90,395 shares during the last quarter. BlueCrest Capital Management Ltd boosted its holdings in CenterPoint Energy by 286.5% in the 4th quarter. BlueCrest Capital Management Ltd now owns 28,368 shares of the utilities provider’s stock worth $805,000 after buying an additional 21,029 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in CenterPoint Energy by 14.8% in the 4th quarter. Driehaus Capital Management LLC now owns 15,273 shares of the utilities provider’s stock worth $433,000 after buying an additional 1,969 shares during the last quarter. Finally, MANA Advisors LLC acquired a new stake in CenterPoint Energy in the 4th quarter worth about $1,032,000. Institutional investors own 75.81% of the company’s stock.
Several equities research analysts recently issued reports on CNP shares. Guggenheim reiterated a “hold” rating and issued a $28.00 price objective on shares of CenterPoint Energy in a report on Friday, February 23rd. Zacks Investment Research upgraded CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. SunTrust Banks set a $27.00 price objective on CenterPoint Energy and gave the stock a “hold” rating in a report on Monday, February 12th. Finally, Citigroup lifted their price objective on CenterPoint Energy from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, November 20th. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. CenterPoint Energy has a consensus rating of “Hold” and an average target price of $29.10.
CenterPoint Energy (NYSE:CNP) last issued its earnings results on Thursday, February 22nd. The utilities provider reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.33 billion. CenterPoint Energy had a return on equity of 15.51% and a net margin of 18.64%. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 EPS. research analysts predict that CenterPoint Energy, Inc. will post 1.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th were issued a dividend of $0.2775 per share. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.27. This represents a $1.11 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Wednesday, February 14th. CenterPoint Energy’s payout ratio is currently 26.88%.
In other news, insider Milton Carroll sold 43,363 shares of CenterPoint Energy stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $27.20, for a total transaction of $1,179,473.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott M. Prochazka sold 1,000 shares of CenterPoint Energy stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $26.99, for a total transaction of $26,990.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,363 shares of company stock worth $1,262,484. Insiders own 0.20% of the company’s stock.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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