Sanders Morris Harris LLC decreased its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 10.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 175,800 shares of the utilities provider’s stock after selling 20,250 shares during the quarter. CenterPoint Energy comprises 2.6% of Sanders Morris Harris LLC’s holdings, making the stock its 9th largest position. Sanders Morris Harris LLC’s holdings in CenterPoint Energy were worth $5,397,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in CNP. Bank of New York Mellon Corp grew its position in CenterPoint Energy by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,558,975 shares of the utilities provider’s stock valued at $126,055,000 after acquiring an additional 74,585 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of CenterPoint Energy by 1.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,100,169 shares of the utilities provider’s stock worth $30,416,000 after purchasing an additional 14,435 shares during the last quarter. Standard Life Aberdeen plc lifted its stake in shares of CenterPoint Energy by 1.2% during the 3rd quarter. Standard Life Aberdeen plc now owns 1,196,558 shares of the utilities provider’s stock worth $33,102,000 after purchasing an additional 13,732 shares during the last quarter. Paloma Partners Management Co purchased a new stake in CenterPoint Energy in the third quarter valued at about $378,000. Finally, Pacer Advisors Inc. raised its stake in CenterPoint Energy by 13.9% in the third quarter. Pacer Advisors Inc. now owns 22,644 shares of the utilities provider’s stock valued at $626,000 after buying an additional 2,764 shares during the last quarter. Hedge funds and other institutional investors own 81.73% of the company’s stock.
CNP has been the topic of a number of research reports. Royal Bank of Canada raised CenterPoint Energy from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $29.00 to $34.00 in a report on Friday, January 18th. Goldman Sachs Group began coverage on CenterPoint Energy in a report on Monday, February 25th. They set a “buy” rating and a $34.00 target price on the stock. Credit Suisse Group set a $32.00 target price on CenterPoint Energy and gave the stock a “buy” rating in a report on Friday, March 1st. ValuEngine raised CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of CenterPoint Energy in a report on Thursday, February 28th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $32.44.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.06). CenterPoint Energy had a return on equity of 12.34% and a net margin of 3.39%. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the previous year, the business posted $0.55 EPS. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts predict that CenterPoint Energy, Inc. will post 1.66 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 3.88%. The ex-dividend date is Wednesday, May 15th. CenterPoint Energy’s payout ratio is 71.88%.
In related news, CEO Scott M. Prochazka sold 7,000 shares of the company’s stock in a transaction that occurred 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 legal filing with the SEC, which is available at this link. Also, CEO Scott M. Prochazka sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $29.98, for a total value of $119,920.00. The disclosure for this sale can be found here. Insiders have sold a total of 135,000 shares of company stock worth $4,077,030 in the last quarter. 0.24% of the stock is currently owned by insiders.
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About CenterPoint Energy
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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