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.
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%.
WARNING: “CenterPoint Energy, Inc. (CNP) Shares Sold by Alps Advisors Inc.” was originally reported by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece of content on another domain, it was copied illegally and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be accessed at https://sportsperspectives.com/2018/11/09/centerpoint-energy-inc-cnp-shares-sold-by-alps-advisors-inc.html.
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.
Featured Story: What is the float in trading stocks?
Want to see what other hedge funds are holding CNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CenterPoint Energy, Inc. (NYSE:CNP).
Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.