Bank of New York Mellon Corp trimmed its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 2.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,979,492 shares of the utilities provider’s stock after selling 127,390 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.39% of CenterPoint Energy worth $174,661,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale lifted its stake in CenterPoint Energy by 117.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 119,073 shares of the utilities provider’s stock valued at $3,511,000 after buying an additional 64,321 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in CenterPoint Energy by 61.1% in the third quarter. Teacher Retirement System of Texas now owns 700,845 shares of the utilities provider’s stock valued at $20,472,000 after buying an additional 265,891 shares during the last quarter. Rhumbline Advisers lifted its stake in CenterPoint Energy by 3.5% in the third quarter. Rhumbline Advisers now owns 859,916 shares of the utilities provider’s stock valued at $25,118,000 after buying an additional 28,942 shares during the last quarter. Toronto Dominion Bank lifted its stake in CenterPoint Energy by 11.6% in the third quarter. Toronto Dominion Bank now owns 162,586 shares of the utilities provider’s stock valued at $4,748,000 after buying an additional 16,862 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its stake in CenterPoint Energy by 52.3% in the third quarter. Retirement Systems of Alabama now owns 318,336 shares of the utilities provider’s stock valued at $9,299,000 after buying an additional 109,381 shares during the last quarter. Institutional investors own 78.54% of the company’s stock.
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CNP has been the topic of a number of recent research reports. Royal Bank Of Canada reiterated a “hold” rating and issued a $29.00 target price on shares of CenterPoint Energy in a research note on Monday, September 11th. Credit Suisse Group upgraded CenterPoint Energy from an “underperform” rating to a “neutral” rating and raised their target price for the company from $28.82 to $29.00 in a research note on Monday, August 14th. J P Morgan Chase & Co set a $30.00 target price on CenterPoint Energy and gave the company a “hold” rating in a research note on Thursday, October 12th. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $30.00 target price on shares of CenterPoint Energy in a research note on Monday, October 2nd. Finally, BidaskClub upgraded CenterPoint Energy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Nine research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $28.75.
CenterPoint Energy, Inc. (NYSE CNP) opened at $29.00 on Monday. The company has a market capitalization of $12,500.00, a price-to-earnings ratio of 22.14, a PEG ratio of 4.00 and a beta of 0.64. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 2.08. CenterPoint Energy, Inc. has a fifty-two week low of $23.24 and a fifty-two week high of $30.45.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Friday, November 3rd. The utilities provider reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.07 billion. CenterPoint Energy had a return on equity of 16.00% and a net margin of 6.59%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. sell-side analysts predict that CenterPoint Energy, Inc. will post 1.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Wednesday, November 15th. CenterPoint Energy’s dividend payout ratio (DPR) is 77.54%.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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