CenterPoint Energy, Inc. (CNP) Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. reduced its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 92.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 17,227 shares of the utilities provider’s stock after selling 211,559 shares during the period. Alps Advisors Inc.’s holdings in CenterPoint Energy were worth $476,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Oppenheimer & Co. Inc. increased its holdings in CenterPoint Energy by 18.9% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 11,129 shares of the utilities provider’s stock worth $309,000 after purchasing an additional 1,771 shares in the last quarter. First Allied Advisory Services Inc. increased its holdings in CenterPoint Energy by 18.9% during the 2nd quarter. First Allied Advisory Services Inc. now owns 11,719 shares of the utilities provider’s stock worth $331,000 after purchasing an additional 1,865 shares in the last quarter. Amalgamated Bank increased its holdings in CenterPoint Energy by 3.5% during the 2nd quarter. Amalgamated Bank now owns 55,555 shares of the utilities provider’s stock worth $1,539,000 after purchasing an additional 1,885 shares in the last quarter. Northpointe Capital LLC increased its holdings in CenterPoint Energy by 2.0% during the 2nd quarter. Northpointe Capital LLC now owns 98,431 shares of the utilities provider’s stock worth $2,728,000 after purchasing an additional 1,927 shares in the last quarter. Finally, Zacks Investment Management increased its holdings in CenterPoint Energy by 5.1% during the 2nd quarter. Zacks Investment Management now owns 43,053 shares of the utilities provider’s stock worth $1,193,000 after purchasing an additional 2,090 shares in the last quarter. 67.52% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Scott M. Prochazka sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $27.09, for a total value of $108,360.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.22% of the stock is owned by insiders.

A number of analysts have commented on the company. Wells Fargo & Co reissued a “buy” rating on shares of CenterPoint Energy in a report on Friday. Zacks Investment Research raised CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Monday, October 22nd. Barclays assumed coverage on CenterPoint Energy in a report on Monday, October 22nd. They set a “hold” rating and a $30.00 price objective for the company. ValuEngine raised CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. Finally, JPMorgan Chase & Co. boosted their target price on CenterPoint Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. CenterPoint Energy presently has an average rating of “Hold” and an average price target of $29.33.

Shares of NYSE CNP opened at $28.06 on Friday. CenterPoint Energy, Inc. has a twelve month low of $24.81 and a twelve month high of $30.17. The company has a market capitalization of $13.93 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 2.99 and a beta of 0.43. The company has a current ratio of 0.95, a quick ratio of 0.83 and a debt-to-equity ratio of 1.66.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Thursday, November 8th. The utilities provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). CenterPoint Energy had a return on equity of 10.73% and a net margin of 15.43%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the previous year, the firm earned $0.38 EPS. CenterPoint Energy’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts forecast that CenterPoint Energy, Inc. will post 1.57 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 15th will be paid a $0.2775 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.96%. CenterPoint Energy’s payout ratio is presently 81.02%.

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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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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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