CenterPoint Energy Inc. (CNP) Shares Sold by CrestPoint Capital Management LLC
CrestPoint Capital Management LLC cut its stake in shares of CenterPoint Energy Inc. (NYSE:CNP) by 12.2% during the third quarter, Holdings Channel reports. The fund owned 108,400 shares of the company’s stock after selling 15,000 shares during the period. CenterPoint Energy accounts for 1.3% of CrestPoint Capital Management LLC’s holdings, making the stock its 12th largest position. CrestPoint Capital Management LLC’s holdings in CenterPoint Energy were worth $2,518,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its position in CenterPoint Energy by 228.5% in the second quarter. Advisory Services Network LLC now owns 5,145 shares of the company’s stock valued at $123,000 after buying an additional 3,579 shares during the last quarter. Washington Trust Bank increased its position in CenterPoint Energy by 1.7% in the third quarter. Washington Trust Bank now owns 5,474 shares of the company’s stock valued at $127,000 after buying an additional 90 shares during the last quarter. Assetmark Inc. purchased a new position in CenterPoint Energy during the second quarter valued at $133,000. Pacer Advisors Inc. increased its position in CenterPoint Energy by 10.4% in the second quarter. Pacer Advisors Inc. now owns 7,293 shares of the company’s stock valued at $175,000 after buying an additional 685 shares during the last quarter. Finally, IFC Holdings Incorporated FL purchased a new position in CenterPoint Energy during the second quarter valued at $209,000. 73.65% of the stock is owned by hedge funds and other institutional investors.
Shares of CenterPoint Energy Inc. (NYSE:CNP) traded down 0.95% on Wednesday, reaching $23.86. The company had a trading volume of 4,935,746 shares. The stock’s market capitalization is $10.28 billion. CenterPoint Energy Inc. has a 52-week low of $16.05 and a 52-week high of $24.71. The company has a 50 day moving average price of $23.00 and a 200 day moving average price of $23.08.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Friday, November 4th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.04. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.98 billion. CenterPoint Energy had a positive return on equity of 15.00% and a negative net margin of 2.46%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. On average, equities research analysts anticipate that CenterPoint Energy Inc. will post $1.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Wednesday, November 16th will be issued a $0.2575 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.03 annualized dividend and a dividend yield of 4.32%. CenterPoint Energy’s dividend payout ratio is currently -245.24%.
A number of equities research analysts have commented on CNP shares. Guggenheim started coverage on CenterPoint Energy in a report on Thursday, November 3rd. They set a “buy” rating and a $25.00 target price on the stock. RBC Capital Markets set a $26.00 target price on CenterPoint Energy and gave the company a “buy” rating in a report on Monday, August 8th. TheStreet cut CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Deutsche Bank AG lowered their target price on CenterPoint Energy from $24.50 to $24.00 and set a “hold” rating on the stock in a report on Monday, August 8th. Finally, SunTrust Banks Inc. reiterated a “hold” rating and set a $24.00 target price on shares of CenterPoint Energy in a report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. CenterPoint Energy currently has a consensus rating of “Hold” and an average target price of $23.02.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc is a public utility holding company. The Company’s segments include Electric Transmission & Distribution, Natural Gas Distribution, Energy Services, Midstream Investments and Other Operations. Its Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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