The Manufacturers Life Insurance Company cut its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 77.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,455,651 shares of the utilities provider’s stock after selling 5,057,172 shares during the period. The Manufacturers Life Insurance Company owned 0.27% of CenterPoint Energy worth $28,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp raised its position in CenterPoint Energy by 7.1% during the second 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 shares of CenterPoint Energy during the second quarter valued at approximately $141,685,000. Prudential PLC grew its stake in shares of CenterPoint Energy by 33.9% during the second quarter. Prudential PLC now owns 4,446,501 shares of the utilities provider’s stock valued at $83,016,000 after buying an additional 1,126,500 shares during the last quarter. Duff & Phelps Investment Management Co. grew its stake in shares of CenterPoint Energy by 17.8% during the third quarter. Duff & Phelps Investment Management Co. now owns 3,960,005 shares of the utilities provider’s stock valued at $76,626,000 after buying an additional 598,680 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in shares of CenterPoint Energy during the second quarter valued at approximately $62,909,000. Institutional investors and hedge funds own 80.88% of the company’s stock.
Shares of NYSE CNP opened at $23.46 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.59 and a debt-to-equity ratio of 2.01. The stock has a market capitalization of $12.78 billion, a PE ratio of -12.03, a price-to-earnings-growth ratio of 3.85 and a beta of 0.95. The stock’s fifty day simple moving average is $21.95 and its two-hundred day simple moving average is $19.68. CenterPoint Energy, Inc. has a 12-month low of $11.58 and a 12-month high of $27.53.
CenterPoint Energy (NYSE:CNP) last announced its earnings results on Thursday, November 5th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.04. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.72 billion. CenterPoint Energy had a positive return on equity of 14.78% and a negative net margin of 9.49%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. On average, equities analysts predict that CenterPoint Energy, Inc. will post 1.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 19th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $0.60 annualized dividend and a dividend yield of 2.56%. CenterPoint Energy’s dividend payout ratio is presently 33.52%.
A number of research firms have recently commented on CNP. Morgan Stanley upped their target price on CenterPoint Energy from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 17th. Zacks Investment Research cut CenterPoint Energy from a “hold” rating to a “sell” rating and set a $25.00 price objective on the stock. in a research note on Friday, November 13th. Bank of America raised CenterPoint Energy from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $19.00 to $21.00 in a research note on Friday, August 7th. Mizuho increased their price objective on CenterPoint Energy from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, October 26th. Finally, Barclays increased their price objective on CenterPoint Energy from $21.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $21.18.
CenterPoint Energy 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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