Insider Selling: CenterPoint Energy, Inc. (CNP) Chairman Sells 12,000 Shares of Stock

CenterPoint Energy, Inc. (NYSE:CNP) Chairman Milton Carroll sold 12,000 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $29.76, for a total value of $357,120.00. Following the sale, the chairman now owns 98,301 shares of the company’s stock, valued at $2,925,437.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Milton Carroll also recently made the following trade(s):

  • On Monday, May 20th, Milton Carroll sold 19,780 shares of CenterPoint Energy stock. The stock was sold at an average price of $29.70, for a total value of $587,466.00.
  • On Thursday, March 7th, Milton Carroll sold 40,000 shares of CenterPoint Energy stock. The stock was sold at an average price of $30.02, for a total value of $1,200,800.00.
  • On Tuesday, March 5th, Milton Carroll sold 75,000 shares of CenterPoint Energy stock. The stock was sold at an average price of $30.21, for a total value of $2,265,750.00.

Shares of NYSE CNP opened at $29.55 on Thursday. CenterPoint Energy, Inc. has a 1-year low of $25.10 and a 1-year high of $31.42. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 2.12. The stock has a market capitalization of $14.82 billion, a PE ratio of 18.47, a P/E/G ratio of 3.37 and a beta of 0.45.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Thursday, May 9th. The utilities provider reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.06). CenterPoint Energy had a return on equity of 13.31% and a net margin of 3.39%. The company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same period in the previous year, the company earned $0.55 EPS. CenterPoint Energy’s quarterly revenue was up 11.9% on a year-over-year basis. On average, research analysts anticipate that CenterPoint Energy, Inc. will post 1.64 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th will be given a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Wednesday, May 15th. CenterPoint Energy’s payout ratio is 71.88%.

Several equities research analysts have commented on CNP shares. Credit Suisse Group set a $32.00 price target on CenterPoint Energy and gave the stock a “buy” rating in a research note on Friday, March 1st. ValuEngine lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Wells Fargo & Co reaffirmed a “buy” rating on shares of CenterPoint Energy in a research report on Thursday, February 28th. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Finally, JPMorgan Chase & Co. decreased their target price on CenterPoint Energy from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, May 15th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $32.33.

Several hedge funds and other institutional investors have recently modified their holdings of CNP. Edmond DE Rothschild Holding S.A. purchased a new position in CenterPoint Energy in the first quarter valued at about $25,000. Flagship Harbor Advisors LLC boosted its holdings in CenterPoint Energy by 174.6% in the first quarter. Flagship Harbor Advisors LLC now owns 950 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 604 shares during the last quarter. Financial Architects Inc purchased a new position in CenterPoint Energy in the fourth quarter valued at about $28,000. PRW Wealth Management LLC purchased a new position in CenterPoint Energy in the fourth quarter valued at about $29,000. Finally, Claybrook Capital LLC purchased a new position in CenterPoint Energy in the fourth quarter valued at about $31,000. 79.69% of the stock is owned by institutional investors.

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About CenterPoint Energy

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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Insider Buying and Selling by Quarter for CenterPoint Energy (NYSE:CNP)

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