Assenagon Asset Management S.A. acquired a new stake in CenterPoint Energy, Inc. (NYSE:CNP) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 12,499 shares of the utilities provider’s stock, valued at approximately $233,000.
Several other hedge funds also recently added to or reduced their stakes in the company. Old Port Advisors grew its holdings in CenterPoint Energy by 1.4% in the 2nd quarter. Old Port Advisors now owns 37,523 shares of the utilities provider’s stock worth $701,000 after acquiring an additional 519 shares during the last quarter. First Allied Advisory Services Inc. grew its holdings in CenterPoint Energy by 4.0% in the 1st quarter. First Allied Advisory Services Inc. now owns 15,285 shares of the utilities provider’s stock worth $236,000 after acquiring an additional 589 shares during the last quarter. Archer Investment Corp grew its holdings in CenterPoint Energy by 4.9% in the 1st quarter. Archer Investment Corp now owns 15,035 shares of the utilities provider’s stock worth $232,000 after acquiring an additional 700 shares during the last quarter. Bessemer Group Inc. grew its holdings in CenterPoint Energy by 2.4% in the 1st quarter. Bessemer Group Inc. now owns 30,660 shares of the utilities provider’s stock worth $475,000 after acquiring an additional 732 shares during the last quarter. Finally, Cigna Investments Inc. New grew its holdings in CenterPoint Energy by 6.5% in the 1st quarter. Cigna Investments Inc. New now owns 14,026 shares of the utilities provider’s stock worth $218,000 after acquiring an additional 850 shares during the last quarter. Institutional investors own 75.66% of the company’s stock.
Shares of NYSE CNP opened at $19.01 on Friday. CenterPoint Energy, Inc. has a 1 year low of $11.58 and a 1 year high of $30.71. The stock has a market cap of $10.35 billion, a P/E ratio of -13.68, a price-to-earnings-growth ratio of 3.00 and a beta of 0.95. The firm has a 50-day moving average of $18.91 and a 200 day moving average of $19.79. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.03 and a quick ratio of 0.94.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.22. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.41 billion. CenterPoint Energy had a negative net margin of 5.28% and a positive return on equity of 15.75%. CenterPoint Energy’s revenue was down 2.8% on a year-over-year basis. During the same period last year, the company posted $0.46 EPS. Research analysts expect that CenterPoint Energy, Inc. will post 1.28 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.60 annualized dividend and a yield of 3.16%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 33.52%.
CNP has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating and set a $19.00 price target on the stock. in a report on Friday, June 12th. ValuEngine raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Friday, May 8th. Morgan Stanley reaffirmed a “hold” rating and issued a $20.00 target price on shares of CenterPoint Energy in a research report on Monday, July 6th. KeyCorp raised their target price on shares of CenterPoint Energy from $16.00 to $17.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. raised their target price on shares of CenterPoint Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $20.89.
In other news, Director David J. Lesar bought 11,110 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $18.05 per share, with a total value of $200,535.50. Following the completion of the acquisition, the director now owns 6,110 shares of the company’s stock, valued at $110,285.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is currently owned by insiders.
CenterPoint Energy Company 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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