CenterPoint Energy Inc. (CNP) Position Reduced by Icon Advisers Inc. Co.
Icon Advisers Inc. Co. reduced its position in CenterPoint Energy Inc. (NYSE:CNP) by 69.5% during the third quarter, Holdings Channel reports. The firm owned 74,700 shares of the company’s stock after selling 170,500 shares during the period. Icon Advisers Inc. Co.’s holdings in CenterPoint Energy were worth $1,735,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisory Services Network LLC increased its position 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 worth $123,000 after buying an additional 3,579 shares during the period. Washington Trust Bank increased its position in shares of CenterPoint Energy by 1.7% in the third quarter. Washington Trust Bank now owns 5,474 shares of the company’s stock worth $127,000 after buying an additional 90 shares during the period. Assetmark Inc. purchased a new position in shares of CenterPoint Energy during the second quarter worth about $133,000. Pacer Advisors Inc. increased its position in shares of CenterPoint Energy by 10.4% in the second quarter. Pacer Advisors Inc. now owns 7,293 shares of the company’s stock worth $175,000 after buying an additional 685 shares during the period. Finally, Shinko Asset Management Co. Ltd. increased its position in shares of CenterPoint Energy by 618.5% in the third quarter. Shinko Asset Management Co. Ltd. now owns 8,248 shares of the company’s stock worth $192,000 after buying an additional 7,100 shares during the period. Hedge funds and other institutional investors own 73.65% of the company’s stock.
CenterPoint Energy Inc. (NYSE:CNP) traded down 0.33% during mid-day trading on Tuesday, hitting $24.09. 3,963,224 shares of the stock traded hands. The firm’s 50-day moving average is $22.89 and its 200 day moving average is $23.06. The firm’s market cap is $10.38 billion. CenterPoint Energy Inc. has a 52-week low of $16.05 and a 52-week high of $24.71.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Friday, November 4th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The business earned $1.89 billion during the quarter, compared to analyst estimates of $1.98 billion. CenterPoint Energy had a positive return on equity of 15.00% and a negative net margin of 2.46%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 earnings per share. Equities analysts predict that CenterPoint Energy Inc. will post $1.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Wednesday, November 16th will be given a dividend of $0.2575 per share. This represents a $1.03 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Monday, November 14th. CenterPoint Energy’s dividend payout ratio is currently -245.24%.
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A number of research analysts have recently issued reports on the stock. Guggenheim assumed coverage on shares of CenterPoint Energy in a research report on Thursday, November 3rd. They issued a “buy” rating and a $25.00 price target on the stock. RBC Capital Markets set a $26.00 price target on shares of CenterPoint Energy and gave the stock a “buy” rating in a research report on Monday, August 8th. SunTrust Banks Inc. reiterated a “hold” rating and issued a $24.00 price objective on shares of CenterPoint Energy in a research note on Tuesday, August 2nd. Deutsche Bank AG lowered their price objective on shares of CenterPoint Energy from $24.50 to $24.00 and set a “hold” rating for the company in a research note on Monday, August 8th. Finally, Credit Suisse Group AG lowered shares of CenterPoint Energy from a “neutral” rating to an “underperform” rating and lifted their price objective for the company from $24.00 to $25.00 in a research note on Tuesday, November 8th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target 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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