Swiss National Bank trimmed its position in CenterPoint Energy, Inc. (NYSE:CNP) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,956,657 shares of the utilities provider’s stock after selling 26,100 shares during the period. Swiss National Bank’s holdings in CenterPoint Energy were worth $37,861,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in CenterPoint Energy by 7.1% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,872,009 shares of the utilities provider’s stock valued at $146,971,000 after purchasing an additional 521,559 shares during the period. Blackstone Group Inc bought a new position in CenterPoint Energy in the 2nd quarter valued at $141,685,000. Prudential PLC boosted its holdings in CenterPoint Energy by 33.9% in the 2nd quarter. Prudential PLC now owns 4,446,501 shares of the utilities provider’s stock valued at $83,016,000 after purchasing an additional 1,126,500 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in CenterPoint Energy by 17.8% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 3,960,005 shares of the utilities provider’s stock valued at $76,626,000 after purchasing an additional 598,680 shares during the period. Finally, Jennison Associates LLC bought a new position in CenterPoint Energy in the 2nd quarter valued at $62,909,000. 80.88% of the stock is owned by hedge funds and other institutional investors.
CNP has been the subject of several analyst reports. Barclays raised their price target on shares of CenterPoint Energy from $21.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday. Credit Suisse Group raised their price objective on shares of CenterPoint Energy from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, November 6th. Zacks Investment Research cut shares of CenterPoint Energy from a “hold” rating to a “sell” rating and set a $25.00 price objective on the stock. in a research report on Friday, November 13th. Morgan Stanley raised their price objective on shares of CenterPoint Energy from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 17th. Finally, KeyCorp upgraded shares of CenterPoint Energy from an “underweight” rating to a “sector weight” rating in a research report on Thursday, November 5th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. CenterPoint Energy has an average rating of “Hold” and an average target price of $21.18.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, November 5th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.72 billion. CenterPoint Energy had a negative net margin of 9.49% and a positive return on equity of 14.78%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. As a group, sell-side analysts expect that CenterPoint Energy, Inc. will post 1.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Wednesday, November 18th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 33.52%.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Houston Electric T&D segment electric transmission and distribution services to electric utility. It owns 236 substation sites with a total installed rated transformer capacity of 68,053 megavolt amperes.
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