Tealwood Asset Management Inc. lessened its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,313 shares of the utilities provider’s stock after selling 3,429 shares during the quarter. Tealwood Asset Management Inc.’s holdings in CenterPoint Energy were worth $2,872,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Geode Capital Management LLC boosted its stake in CenterPoint Energy by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 7,131,126 shares of the utilities provider’s stock worth $200,993,000 after purchasing an additional 550,475 shares during the last quarter. Unigestion Holding SA boosted its stake in CenterPoint Energy by 331.7% during the 2nd quarter. Unigestion Holding SA now owns 3,052,431 shares of the utilities provider’s stock worth $87,391,000 after purchasing an additional 2,345,348 shares during the last quarter. Pictet Asset Management Ltd. boosted its stake in CenterPoint Energy by 1.2% during the 1st quarter. Pictet Asset Management Ltd. now owns 2,953,689 shares of the utilities provider’s stock worth $90,678,000 after purchasing an additional 33,688 shares during the last quarter. California Public Employees Retirement System boosted its stake in CenterPoint Energy by 17.9% during the 1st quarter. California Public Employees Retirement System now owns 2,514,479 shares of the utilities provider’s stock worth $77,195,000 after purchasing an additional 381,766 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in CenterPoint Energy during the 1st quarter worth $69,287,000. 79.94% of the stock is currently owned by institutional investors.
In other news, CEO Scott M. Prochazka sold 7,000 shares of CenterPoint Energy stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $29.03, for a total transaction of $203,210.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders have sold 21,000 shares of company stock worth $600,810. Insiders own 0.24% of the company’s stock.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.35 EPS for the quarter, topping the 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 business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the previous year, the firm earned $0.30 EPS. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. Research analysts anticipate that CenterPoint Energy, Inc. will post 1.65 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.2875 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.15 annualized dividend and a dividend yield of 4.09%. CenterPoint Energy’s dividend payout ratio is presently 71.88%.
Several brokerages have issued reports on CNP. Mizuho began coverage on shares of CenterPoint Energy in a research note on Monday, June 3rd. They set a “buy” rating and a $31.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on shares of CenterPoint Energy from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 15th. Bank of America raised shares of CenterPoint Energy from a “neutral” rating to a “buy” rating and set a $29.32 target price on the stock in a research note on Thursday, June 13th. They noted that the move was a valuation call. Morgan Stanley lifted their target price on shares of CenterPoint Energy from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Friday, June 14th. Finally, KeyCorp assumed coverage on CenterPoint Energy in a report on Tuesday, June 4th. They set a “sector weight” rating on the stock. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $31.85.
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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