GWM Advisors LLC boosted its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 1,543.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 348,348 shares of the utilities provider’s stock after buying an additional 327,146 shares during the quarter. GWM Advisors LLC’s holdings in CenterPoint Energy were worth $673,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. Martingale Asset Management L P grew its position in shares of CenterPoint Energy by 1.1% in the first quarter. Martingale Asset Management L P now owns 1,364,786 shares of the utilities provider’s stock valued at $41,900,000 after purchasing an additional 14,348 shares during the last quarter. Rational Advisors LLC grew its position in shares of CenterPoint Energy by 567.0% in the first quarter. Rational Advisors LLC now owns 3,575 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 3,039 shares during the last quarter. Barings LLC grew its position in shares of CenterPoint Energy by 20.6% in the first quarter. Barings LLC now owns 36,366 shares of the utilities provider’s stock valued at $1,116,000 after purchasing an additional 6,200 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of CenterPoint Energy by 86.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 441,981 shares of the utilities provider’s stock valued at $13,569,000 after purchasing an additional 205,136 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its position in shares of CenterPoint Energy by 14.2% in the first quarter. Great West Life Assurance Co. Can now owns 781,251 shares of the utilities provider’s stock valued at $23,923,000 after purchasing an additional 97,088 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on CenterPoint Energy from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 15th. Goldman Sachs Group assumed coverage on CenterPoint Energy in a research report on Monday, February 25th. They issued a “buy” rating and a $34.00 price target on the stock. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Credit Suisse Group set a $33.00 price target on CenterPoint Energy and gave the company a “buy” rating in a research report on Monday, April 22nd. Finally, ValuEngine raised CenterPoint Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $32.33.
CenterPoint Energy (NYSE:CNP) last released its earnings results on Thursday, May 9th. The utilities provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.06). CenterPoint Energy had a return on equity of 13.31% and a net margin of 3.39%. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period last year, the business earned $0.55 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts anticipate that CenterPoint Energy, Inc. will post 1.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date is Wednesday, May 15th. CenterPoint Energy’s dividend payout ratio is 71.88%.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 4,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $29.98, for a total transaction of $119,920.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Milton Carroll sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $30.21, for a total transaction of $2,265,750.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 166,780 shares of company stock valued at $5,021,616. Corporate insiders own 0.24% of the company’s stock.
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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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