Focused Wealth Management Inc Cuts Stock Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Focused Wealth Management Inc reduced its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 49.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,892 shares of the utilities provider’s stock after selling 4,831 shares during the period. Focused Wealth Management Inc’s holdings in CenterPoint Energy were worth $148,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Prime Capital Investment Advisors LLC purchased a new stake in CenterPoint Energy during the 3rd quarter worth approximately $27,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of CenterPoint Energy in the third quarter valued at approximately $34,000. Advantage Investment Management LLC grew its position in shares of CenterPoint Energy by 432.7% in the second quarter. Advantage Investment Management LLC now owns 1,598 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 1,298 shares in the last quarter. TD Capital Management LLC purchased a new stake in shares of CenterPoint Energy in the second quarter valued at approximately $47,000. Finally, Parallel Advisors LLC grew its position in shares of CenterPoint Energy by 161.8% in the third quarter. Parallel Advisors LLC now owns 1,809 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 1,118 shares in the last quarter. Institutional investors own 79.92% 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 Tuesday, October 1st. The stock was sold at an average price of $30.06, for a total value of $210,420.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 21,000 shares of company stock worth $608,440 over the last quarter. 0.24% of the stock is currently owned by insiders.

A number of equities research analysts have recently issued reports on the company. SunTrust Banks upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and upped their price target for the company from $30.00 to $32.00 in a research report on Friday, September 6th. Stifel Nicolaus upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and upped their price target for the company from $30.00 to $32.00 in a research report on Friday, September 6th. Wells Fargo & Co dropped their price target on CenterPoint Energy from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, September 18th. Barclays upgraded CenterPoint Energy from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $33.00 to $31.00 in a research report on Tuesday, August 13th. Finally, Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a research report on Monday, October 14th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $31.79.

CNP traded up $0.23 during trading hours on Wednesday, reaching $28.18. The company’s stock had a trading volume of 2,274,776 shares, compared to its average volume of 4,585,781. CenterPoint Energy, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $31.42. The stock has a market cap of $14.45 billion, a PE ratio of 17.61, a P/E/G ratio of 3.49 and a beta of 0.47. The business’s 50-day moving average is $29.08 and its 200-day moving average is $29.07. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.99 and a quick ratio of 0.83.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. CenterPoint Energy had a return on equity of 14.51% and a net margin of 6.23%. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same period in the prior year, the firm posted $0.39 earnings per share. The firm’s quarterly revenue was up 24.0% on a year-over-year basis. Analysts expect that CenterPoint Energy, Inc. will post 1.64 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Wednesday, November 20th. CenterPoint Energy’s dividend 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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