ETRADE Capital Management LLC trimmed its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 11.4% in the first quarter, Holdings Channel reports. The fund owned 63,688 shares of the utilities provider’s stock after selling 8,188 shares during the period. ETRADE Capital Management LLC’s holdings in CenterPoint Energy were worth $984,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the business. Utah Retirement Systems grew its stake in CenterPoint Energy by 0.4% in the fourth quarter. Utah Retirement Systems now owns 95,747 shares of the utilities provider’s stock valued at $2,611,000 after acquiring an additional 400 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its stake in CenterPoint Energy by 6.9% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,761 shares of the utilities provider’s stock valued at $184,000 after acquiring an additional 438 shares during the period. Moors & Cabot Inc. grew its stake in CenterPoint Energy by 1.1% in the fourth quarter. Moors & Cabot Inc. now owns 48,412 shares of the utilities provider’s stock valued at $1,319,000 after acquiring an additional 527 shares during the period. First Allied Advisory Services Inc. grew its stake in CenterPoint Energy by 4.0% in the first quarter. First Allied Advisory Services Inc. now owns 15,285 shares of the utilities provider’s stock valued at $236,000 after acquiring an additional 589 shares during the period. Finally, Rockefeller Capital Management L.P. grew its stake in CenterPoint Energy by 151.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,007 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 607 shares during the period. 84.27% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the company. UBS Group cut CenterPoint Energy from a “buy” rating to a “neutral” rating and decreased their target price for the company from $27.00 to $17.00 in a research note on Wednesday, April 1st. JPMorgan Chase & Co. reduced their price objective on CenterPoint Energy from $25.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, April 3rd. Credit Suisse Group upped their price objective on CenterPoint Energy from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Goldman Sachs Group cut CenterPoint Energy from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $21.00 to $22.00 in a research report on Monday, May 11th. Finally, Mizuho reduced their price objective on CenterPoint Energy from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. CenterPoint Energy currently has an average rating of “Hold” and an average price target of $21.11.
Shares of NYSE CNP opened at $16.92 on Friday. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.94 and a current ratio of 1.03. The stock has a 50 day moving average price of $16.62 and a 200 day moving average price of $22.48. The stock has a market capitalization of $8.42 billion, a PE ratio of -12.17, a price-to-earnings-growth ratio of 2.62 and a beta of 0.96. CenterPoint Energy, Inc. has a 52 week low of $11.58 and a 52 week high of $30.71.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, May 7th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.22. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.41 billion. CenterPoint Energy had a positive return on equity of 15.75% and a negative net margin of 5.28%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 earnings per share. As a group, research analysts forecast that CenterPoint Energy, Inc. will post 1.28 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 21st will be paid a $0.15 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $0.60 annualized dividend and a yield of 3.55%. CenterPoint Energy’s dividend payout ratio is 33.52%.
In other news, Director David J. Lesar bought 11,110 shares of the stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $18.05 per share, for a total transaction of $200,535.50. Following the completion of the purchase, the director now owns 6,110 shares in the company, valued at $110,285.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by corporate insiders.
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.
Featured Story: What is Blockchain?
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.