Mckinley Capital Management LLC Delaware Sells 5,345 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Mckinley Capital Management LLC Delaware cut its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 434,570 shares of the utilities provider’s stock after selling 5,345 shares during the quarter. Mckinley Capital Management LLC Delaware’s holdings in CenterPoint Energy were worth $12,442,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNP. Geode Capital Management LLC raised its stake in CenterPoint Energy by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 7,131,126 shares of the utilities provider’s stock valued at $200,993,000 after purchasing an additional 550,475 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of CenterPoint Energy by 21.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,338,732 shares of the utilities provider’s stock worth $37,789,000 after purchasing an additional 238,563 shares during the last quarter. CWM LLC grew its holdings in shares of CenterPoint Energy by 32.1% during the first quarter. CWM LLC now owns 2,093 shares of the utilities provider’s stock worth $64,000 after purchasing an additional 508 shares during the last quarter. Advisor Partners LLC grew its holdings in shares of CenterPoint Energy by 5.2% during the first quarter. Advisor Partners LLC now owns 10,854 shares of the utilities provider’s stock worth $333,000 after purchasing an additional 535 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of CenterPoint Energy during the first quarter worth about $1,655,000. Institutional investors own 79.94% of the company’s stock.

In related news, CEO Scott M. Prochazka sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $28.40, for a total value of $198,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold 21,000 shares of company stock worth $600,810 over the last quarter. 0.24% of the stock is currently owned by company insiders.



Several analysts have recently weighed in on CNP shares. Bank of America upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating and set a $29.32 price target on the stock in a report on Thursday, June 13th. They noted that the move was a valuation call. JPMorgan Chase & Co. reduced their price target on CenterPoint Energy from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, May 15th. Morgan Stanley boosted their price target on CenterPoint Energy from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Friday, June 14th. Mizuho started coverage on CenterPoint Energy in a report on Monday, June 3rd. They set a “buy” rating and a $31.00 price target on the stock. Finally, KeyCorp started coverage on CenterPoint Energy in a report on Tuesday, June 4th. They set a “sector weight” rating on the stock. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $31.85.

Shares of NYSE:CNP traded down $0.60 during midday trading on Friday, hitting $27.42. 2,178,986 shares of the stock were exchanged, compared to its average volume of 4,610,443. The stock has a market capitalization of $13.77 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 3.31 and a beta of 0.46. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.95 and a current ratio of 1.11. The business’s 50-day moving average price is $28.56 and its 200 day moving average price is $29.72. CenterPoint Energy, Inc. has a 12 month low of $26.74 and a 12 month high of $31.42.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.35 EPS for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $2.79 billion. During the same period in the prior year, the business posted $0.30 earnings per share. The firm’s revenue was up 28.0% on a year-over-year basis. As a group, sell-side analysts expect that CenterPoint Energy, Inc. will post 1.65 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 15th will be issued a $0.2875 dividend. This represents a $1.15 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Wednesday, August 14th. CenterPoint Energy’s payout ratio is presently 71.88%.

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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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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