E&G Advisors LP reduced its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 20.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,300 shares of the utilities provider’s stock after selling 2,900 shares during the quarter. E&G Advisors LP’s holdings in CenterPoint Energy were worth $320,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of CNP. Tortoise Investment Management LLC bought a new stake in CenterPoint Energy in the third quarter worth approximately $120,000. IHT Wealth Management LLC bought a new stake in CenterPoint Energy in the second quarter worth approximately $153,000. Pinebridge Investments L.P. bought a new stake in CenterPoint Energy in the second quarter worth approximately $154,000. Eagle Ridge Investment Management bought a new stake in CenterPoint Energy in the third quarter worth approximately $201,000. Finally, Buckingham Asset Management LLC bought a new stake in CenterPoint Energy in the third quarter worth approximately $201,000. Institutional investors and hedge funds own 77.72% of the company’s stock.
A number of brokerages have weighed in on CNP. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Bank of America began coverage on CenterPoint Energy in a report on Tuesday, October 24th. They issued a “neutral” rating and a $30.00 target price for the company. Guggenheim downgraded CenterPoint Energy from a “buy” rating to a “neutral” rating in a report on Monday, December 4th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $30.00 price objective on CenterPoint Energy and gave the company a “hold” rating in a report on Thursday, October 12th. Finally, SunTrust Banks restated a “hold” rating and set a $30.00 price objective on shares of CenterPoint Energy in a report on Monday, October 2nd. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. CenterPoint Energy currently has a consensus rating of “Hold” and an average price target of $29.33.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Friday, November 3rd. The utilities provider reported $0.39 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 earnings per share. sell-side analysts expect that CenterPoint Energy, Inc. will post 1.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.2775 per share. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.11 annualized dividend and a dividend yield of 4.03%. CenterPoint Energy’s payout ratio is currently 78.10%.
In other news, CEO Scott M. Prochazka sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $29.39, for a total transaction of $29,390.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 3,000 shares of company stock valued at $87,110. Corporate insiders own 0.20% of the company’s stock.
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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