CenterPoint Energy, Inc. (CNP) Stake Boosted by Commonwealth Equity Services LLC
Commonwealth Equity Services LLC increased its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,187 shares of the utilities provider’s stock after purchasing an additional 2,378 shares during the period. Commonwealth Equity Services LLC’s holdings in CenterPoint Energy were worth $1,640,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. TD Asset Management Inc. lifted its holdings in shares of CenterPoint Energy by 22.8% during the 2nd quarter. TD Asset Management Inc. now owns 2,256,257 shares of the utilities provider’s stock valued at $62,521,000 after purchasing an additional 419,293 shares in the last quarter. Alps Advisors Inc. raised its position in CenterPoint Energy by 2.1% in the 2nd quarter. Alps Advisors Inc. now owns 215,159 shares of the utilities provider’s stock valued at $6,102,000 after buying an additional 4,404 shares during the last quarter. Aperio Group LLC raised its position in CenterPoint Energy by 21.1% in the 2nd quarter. Aperio Group LLC now owns 431,125 shares of the utilities provider’s stock valued at $11,946,000 after buying an additional 75,259 shares during the last quarter. Park Avenue Securities LLC raised its position in CenterPoint Energy by 22.5% in the 2nd quarter. Park Avenue Securities LLC now owns 14,406 shares of the utilities provider’s stock valued at $397,000 after buying an additional 2,645 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in CenterPoint Energy in the 2nd quarter valued at approximately $404,000. Institutional investors and hedge funds own 79.21% of the company’s stock.
A number of equities research analysts recently issued reports on the company. ValuEngine raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. SunTrust Banks reissued a “hold” rating and issued a $30.00 target price on shares of CenterPoint Energy in a research report on Monday, August 6th. Finally, Bank of America raised CenterPoint Energy from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $28.50.
Shares of CenterPoint Energy stock opened at $28.29 on Friday. CenterPoint Energy, Inc. has a 52-week low of $24.81 and a 52-week high of $30.45. The company has a market capitalization of $12.14 billion, a P/E ratio of 20.65, a PEG ratio of 3.10 and a beta of 0.51. 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 Friday, August 3rd. The utilities provider reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.02). CenterPoint Energy had a net margin of 15.43% and a return on equity of 10.73%. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business posted $0.29 EPS. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. research analysts forecast that CenterPoint Energy, Inc. will post 1.61 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Thursday, August 16th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Wednesday, August 15th. CenterPoint Energy’s dividend payout ratio (DPR) is 81.02%.
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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