Convergence Investment Partners LLC increased its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 182,627 shares of the utilities provider’s stock after buying an additional 4,371 shares during the quarter. Convergence Investment Partners LLC’s holdings in CenterPoint Energy were worth $5,061,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CNP. Whittier Trust Co. lifted its position in CenterPoint Energy by 2,745.0% during the second quarter. Whittier Trust Co. now owns 8,535 shares of the utilities provider’s stock worth $218,000 after buying an additional 8,235 shares during the period. Signition LP purchased a new position in CenterPoint Energy during the second quarter worth about $246,000. Advisor Partners LLC purchased a new position in CenterPoint Energy during the second quarter worth about $260,000. Cornerstone Wealth Management LLC purchased a new position in CenterPoint Energy during the second quarter worth about $349,000. Finally, CIBC Private Wealth Group LLC lifted its position in CenterPoint Energy by 885.0% during the second quarter. CIBC Private Wealth Group LLC now owns 13,367 shares of the utilities provider’s stock worth $370,000 after buying an additional 12,010 shares during the period. Hedge funds and other institutional investors own 79.21% of the company’s stock.
Several equities research analysts have commented on the company. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. SunTrust Banks restated a “hold” rating and set a $30.00 price target on shares of CenterPoint Energy in a research note on Monday, August 6th. ValuEngine lowered CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. Finally, Bank of America upgraded CenterPoint Energy from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $28.50.
NYSE:CNP traded down $0.11 on Wednesday, hitting $28.02. 25,031 shares of the stock were exchanged, compared to its average volume of 4,379,235. The firm has a market capitalization of $12.14 billion, a PE ratio of 20.39, a P/E/G ratio of 3.10 and a beta of 0.51. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.95 and a quick ratio of 0.83. CenterPoint Energy, Inc. has a fifty-two week low of $24.81 and a fifty-two week high of $30.45.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Friday, August 3rd. The utilities provider reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.02). The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. CenterPoint Energy had a return on equity of 10.73% and a net margin of 15.43%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 earnings per share. research analysts anticipate that CenterPoint Energy, Inc. will post 1.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 13th. Stockholders of record on Thursday, August 16th will be paid a $0.2775 dividend. The ex-dividend date is Wednesday, August 15th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.96%. CenterPoint Energy’s dividend payout ratio (DPR) is currently 81.02%.
CenterPoint Energy 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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