Alphasimplex Group LLC purchased a new stake in CenterPoint Energy, Inc. (NYSE:CNP) during the 1st quarter, HoldingsChannel reports. The fund purchased 20,330 shares of the utilities provider’s stock, valued at approximately $624,000.
Other institutional investors also recently made changes to their positions in the company. Neuberger Berman Group LLC boosted its holdings in shares of CenterPoint Energy by 22.5% in the first quarter. Neuberger Berman Group LLC now owns 773,351 shares of the utilities provider’s stock valued at $23,741,000 after acquiring an additional 142,111 shares during the period. Duality Advisers LP boosted its holdings in shares of CenterPoint Energy by 145.9% in the first quarter. Duality Advisers LP now owns 399,820 shares of the utilities provider’s stock valued at $12,274,000 after acquiring an additional 237,220 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of CenterPoint Energy in the first quarter valued at approximately $25,000. Commonwealth Equity Services LLC boosted its holdings in shares of CenterPoint Energy by 4.4% in the first quarter. Commonwealth Equity Services LLC now owns 136,701 shares of the utilities provider’s stock valued at $4,196,000 after acquiring an additional 5,821 shares during the period. Finally, Simmons Bank acquired a new stake in shares of CenterPoint Energy in the first quarter valued at approximately $215,000. Institutional investors own 78.35% of the company’s stock.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 7,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $30.90, for a total value of $216,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Milton Carroll sold 19,780 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $29.70, for a total value of $587,466.00. Following the completion of the sale, the insider now directly owns 98,301 shares of the company’s stock, valued at approximately $2,919,539.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,780 shares of company stock valued at $1,573,746. Corporate insiders own 0.24% of the company’s stock.
Shares of NYSE CNP opened at $28.64 on Wednesday. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.09 and a quick ratio of 0.97. CenterPoint Energy, Inc. has a 1-year low of $25.27 and a 1-year high of $31.42. The firm has a market cap of $14.52 billion, a P/E ratio of 17.90, a P/E/G ratio of 3.22 and a beta of 0.51.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Thursday, May 9th. The utilities provider reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.06). CenterPoint Energy had a return on equity of 13.31% and a net margin of 3.39%. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the prior year, the business earned $0.55 earnings per share. CenterPoint Energy’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts predict that CenterPoint Energy, Inc. will post 1.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 16th will be issued a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Wednesday, May 15th. CenterPoint Energy’s dividend payout ratio is presently 71.88%.
Several research firms have recently weighed in on CNP. KeyCorp began coverage on CenterPoint Energy in a report on Tuesday, June 4th. They issued a “sector weight” rating for the company. JPMorgan Chase & Co. decreased their price objective on CenterPoint Energy from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, May 15th. Credit Suisse Group set a $33.00 price objective on CenterPoint Energy and gave the company a “buy” rating in a report on Monday, April 22nd. Morgan Stanley initiated coverage on CenterPoint Energy in a report on Wednesday, June 5th. They set an “equal weight” rating and a $30.00 price target for the company. Finally, ValuEngine downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $32.00.
WARNING: This piece was reported by Zolmax and is the sole property of of Zolmax. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of US & international copyright legislation. The original version of this piece can be read at https://zolmax.com/investing/alphasimplex-group-llc-takes-position-in-centerpoint-energy-inc-nysecnp/3111575.html.
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.
Want to see what other hedge funds are holding CNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CenterPoint Energy, Inc. (NYSE:CNP).
Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.