Nationwide Fund Advisors Sells 1,897 Shares of CenterPoint Energy Inc. (CNP)
Nationwide Fund Advisors lowered its stake in CenterPoint Energy Inc. (NYSE:CNP) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 122,394 shares of the company’s stock after selling 1,897 shares during the period. Nationwide Fund Advisors’ holdings in CenterPoint Energy were worth $2,937,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the company. Schroder Investment Management Group increased its position in shares of CenterPoint Energy by 304.9% in the second quarter. Schroder Investment Management Group now owns 726,360 shares of the company’s stock worth $17,433,000 after buying an additional 546,976 shares during the period. Bowling Portfolio Management LLC acquired a new position in shares of CenterPoint Energy during the second quarter worth about $1,957,000. Global X Management Co. LLC increased its position in shares of CenterPoint Energy by 138.4% in the second quarter. Global X Management Co. LLC now owns 9,389 shares of the company’s stock worth $225,000 after buying an additional 5,450 shares during the period. JPMorgan Chase & Co. increased its position in shares of CenterPoint Energy by 5.6% in the second quarter. JPMorgan Chase & Co. now owns 13,698,208 shares of the company’s stock worth $328,756,000 after buying an additional 720,435 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of CenterPoint Energy by 156.6% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,232,990 shares of the company’s stock worth $53,592,000 after buying an additional 1,362,728 shares during the period. Institutional investors and hedge funds own 77.05% of the company’s stock.
Shares of CenterPoint Energy Inc. (NYSE:CNP) traded down 1.79% during mid-day trading on Friday, reaching $21.90. The company had a trading volume of 5,147,408 shares. The firm has a 50 day moving average of $23.00 and a 200-day moving average of $22.60. The stock’s market capitalization is $9.43 billion. CenterPoint Energy Inc. has a one year low of $16.05 and a one year high of $24.71.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Friday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.03. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.62 billion. CenterPoint Energy had a negative net margin of 10.72% and a positive return on equity of 13.48%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 EPS. Analysts forecast that CenterPoint Energy Inc. will post $1.15 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Tuesday, August 16th were paid a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 4.70%. The ex-dividend date was Friday, August 12th. CenterPoint Energy’s dividend payout ratio is currently -59.20%.
A number of brokerages have issued reports on CNP. SunTrust Banks Inc. upped their price objective on CenterPoint Energy from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Monday, September 26th. Evercore ISI assumed coverage on CenterPoint Energy in a research note on Monday, September 12th. They set a “hold” rating for the company. Credit Suisse Group AG set a $24.00 price target on CenterPoint Energy and gave the stock a “hold” rating in a research note on Monday, August 8th. RBC Capital Markets set a $26.00 price target on CenterPoint Energy and gave the stock a “buy” rating in a research note on Monday, August 8th. Finally, TheStreet downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. CenterPoint Energy currently has a consensus rating of “Hold” and an average target price of $22.68.
About CenterPoint Energy
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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