Schroder Investment Management Group trimmed its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 44.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,012 shares of the utilities provider’s stock after selling 118,921 shares during the quarter. Schroder Investment Management Group’s holdings in CenterPoint Energy were worth $4,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Cornerstone Wealth Management LLC acquired a new stake in shares of CenterPoint Energy during the 2nd quarter worth approximately $349,000. Janney Montgomery Scott LLC grew its holdings in CenterPoint Energy by 13.8% during the second quarter. Janney Montgomery Scott LLC now owns 20,346 shares of the utilities provider’s stock valued at $564,000 after purchasing an additional 2,460 shares during the period. Alps Advisors Inc. grew its holdings in CenterPoint Energy by 2.1% during the second quarter. Alps Advisors Inc. now owns 215,159 shares of the utilities provider’s stock valued at $6,102,000 after purchasing an additional 4,404 shares during the period. Commonwealth Equity Services LLC grew its holdings in CenterPoint Energy by 4.2% during the second quarter. Commonwealth Equity Services LLC now owns 59,187 shares of the utilities provider’s stock valued at $1,640,000 after purchasing an additional 2,378 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in CenterPoint Energy by 10.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,396,810 shares of the utilities provider’s stock valued at $38,706,000 after purchasing an additional 135,818 shares during the period. Hedge funds and other institutional investors own 79.72% of the company’s stock.
Shares of CNP opened at $28.38 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 1.06. CenterPoint Energy, Inc. has a twelve month low of $24.81 and a twelve month high of $29.06. The company has a market capitalization of $14.12 billion, a price-to-earnings ratio of 20.72, a P/E/G ratio of 3.02 and a beta of 0.46.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, November 8th. The utilities provider reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.02). CenterPoint Energy had a net margin of 15.15% and a return on equity of 14.40%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the firm posted $0.38 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Analysts anticipate that CenterPoint Energy, Inc. will post 1.57 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 15th will be paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Wednesday, November 14th. CenterPoint Energy’s payout ratio is currently 81.02%.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 4,000 shares of CenterPoint Energy stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $27.54, for a total value of $110,160.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 12,000 shares of company stock worth $331,200. Insiders own 0.22% of the company’s stock.
A number of brokerages recently issued reports on CNP. Barclays set a $31.00 price objective on shares of CenterPoint Energy and gave the company a “hold” rating in a report on Saturday, November 17th. Wells Fargo & Co restated a “buy” rating on shares of CenterPoint Energy in a report on Friday, November 9th. Zacks Investment Research upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Monday, October 22nd. ValuEngine upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CenterPoint Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, October 9th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $29.44.
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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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