KC Investment Advisors LLC purchased a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,653 shares of the utilities provider’s stock, valued at approximately $204,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Edmond DE Rothschild Holding S.A. purchased a new stake in CenterPoint Energy during the first quarter worth $25,000. PRW Wealth Management LLC purchased a new stake in CenterPoint Energy during the fourth quarter worth $29,000. Flagship Harbor Advisors LLC boosted its holdings in CenterPoint Energy by 174.6% during the first quarter. Flagship Harbor Advisors LLC now owns 950 shares of the utilities provider’s stock worth $29,000 after buying an additional 604 shares in the last quarter. Claybrook Capital LLC purchased a new stake in CenterPoint Energy during the fourth quarter worth $31,000. Finally, Parallel Advisors LLC boosted its holdings in CenterPoint Energy by 89.4% during the fourth quarter. Parallel Advisors LLC now owns 1,352 shares of the utilities provider’s stock worth $38,000 after buying an additional 638 shares in the last quarter. 78.35% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on CNP shares. Wells Fargo & Co reissued a “buy” rating on shares of CenterPoint Energy in a report on Thursday, February 28th. Goldman Sachs Group started coverage on shares of CenterPoint Energy in a research report on Monday, February 25th. They set a “buy” rating and a $34.00 price objective for the company. Credit Suisse Group set a $33.00 price objective on shares of CenterPoint Energy and gave the stock a “buy” rating in a research report on Monday, April 22nd. Mizuho started coverage on shares of CenterPoint Energy in a research report on Monday, June 3rd. They set a “buy” rating and a $31.00 price objective for the company. Finally, Morgan Stanley started coverage on shares of CenterPoint Energy in a research report on Wednesday, June 5th. They set an “equal weight” rating and a $30.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $32.00.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.06). The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.84 billion. CenterPoint Energy had a return on equity of 13.31% and a net margin of 3.39%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 earnings per share. Research analysts forecast that CenterPoint Energy, Inc. will post 1.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th will be given a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Wednesday, May 15th. CenterPoint Energy’s dividend payout ratio (DPR) is 71.88%.
In other news, Chairman Milton Carroll sold 12,000 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $29.76, for a total value of $357,120.00. Following the completion of the sale, the chairman now directly owns 98,301 shares in the company, valued at $2,925,437.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott M. Prochazka sold 7,000 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $30.58, for a total transaction of $214,060.00. The disclosure for this sale can be found here. Insiders sold 52,780 shares of company stock valued at $1,573,746 over the last quarter. Company insiders own 0.24% of the company’s stock.
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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