Westpac Banking Corp Boosts Position in CenterPoint Energy Inc. (CNP)
Westpac Banking Corp increased its stake in shares of CenterPoint Energy Inc. (NYSE:CNP) by 920.1% during the second quarter, Holdings Channel reports. The institutional investor owned 208,010 shares of the company’s stock after buying an additional 187,618 shares during the period. Westpac Banking Corp’s holdings in CenterPoint Energy were worth $4,349,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the stock. Advisory Services Network LLC raised its stake in shares of 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 raised its stake in shares of CenterPoint Energy by 133.7% in the second quarter. Washington Trust Bank now owns 5,384 shares of the company’s stock valued at $129,000 after buying an additional 3,080 shares during the last quarter. Assetmark Inc. acquired a new stake in shares of CenterPoint Energy during the second quarter valued at about $133,000. Invictus RG acquired a new stake in shares of CenterPoint Energy during the first quarter valued at about $204,000. Finally, IFC Holdings Incorporated FL acquired a new stake in shares of CenterPoint Energy during the second quarter valued at about $209,000. 77.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of CenterPoint Energy Inc. (NYSE:CNP) opened at 24.26 on Thursday. CenterPoint Energy Inc. has a 12-month low of $16.05 and a 12-month high of $24.71. The company’s market cap is $10.45 billion. The firm has a 50-day moving average of $22.82 and a 200-day moving average of $22.37.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Friday, August 5th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by $0.03. CenterPoint Energy had a negative net margin of 10.72% and a positive return on equity of 13.48%. The business earned $1.57 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the business posted $0.19 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts predict that CenterPoint Energy Inc. will post $1.15 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Tuesday, August 16th were paid a $0.2575 dividend. This represents a $1.03 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Friday, August 12th. CenterPoint Energy’s dividend payout ratio (DPR) is -59.20%.
Several equities research analysts have issued reports on the stock. RBC Capital Markets set a $26.00 price target on shares of CenterPoint Energy and gave the company a “buy” rating in a research note on Monday, August 8th. Wells Fargo & Co. lowered shares of CenterPoint Energy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 22nd. SunTrust Banks Inc. restated a “hold” rating and set a $24.00 price objective on shares of CenterPoint Energy in a research note on Tuesday, August 2nd. Argus restated a “buy” rating and set a $28.00 price objective (up from $26.00) on shares of CenterPoint Energy in a research note on Friday, July 1st. Finally, Deutsche Bank AG lowered their price objective on shares of CenterPoint Energy from $24.50 to $24.00 and set a “hold” rating on the stock in a research note on Monday, August 8th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. CenterPoint Energy presently has an average rating of “Hold” and an average price target of $22.57.
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.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.