Smithfield Trust Co. Cuts Position in CenterPoint Energy, Inc. (NYSE:CNP)
Smithfield Trust Co. cut its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 4.3% during the second quarter, Holdings Channel reports. The fund owned 6,870 shares of the utilities provider’s stock after selling 310 shares during the period. Smithfield Trust Co.’s holdings in CenterPoint Energy were worth $188,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of CNP. Sei Investments Co. boosted its stake in shares of CenterPoint Energy by 34.4% in the second quarter. Sei Investments Co. now owns 160,063 shares of the utilities provider’s stock worth $4,382,000 after buying an additional 40,999 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in shares of CenterPoint Energy by 0.4% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 9,431 shares of the utilities provider’s stock worth $258,000 after buying an additional 33 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of CenterPoint Energy by 0.3% in the second quarter. CIBC Asset Management Inc now owns 43,536 shares of the utilities provider’s stock worth $1,192,000 after buying an additional 144 shares during the last quarter. Rothschild Asset Management Inc. boosted its stake in shares of CenterPoint Energy by 5.3% in the second quarter. Rothschild Asset Management Inc. now owns 18,421 shares of the utilities provider’s stock worth $504,000 after buying an additional 924 shares during the last quarter. Finally, Eagle Global Advisors LLC purchased a new stake in shares of CenterPoint Energy during the second quarter worth $273,000. 77.16% of the stock is owned by institutional investors and hedge funds.
CenterPoint Energy, Inc. (NYSE:CNP) opened at 28.74 on Tuesday. CenterPoint Energy, Inc. has a 1-year low of $21.83 and a 1-year high of $29.08. The company’s 50-day moving average price is $27.92 and its 200 day moving average price is $27.54. The firm has a market capitalization of $12.39 billion, a PE ratio of 26.61 and a beta of 0.64.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.07. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the firm earned $0.17 EPS. The firm’s quarterly revenue was up 36.1% compared to the same quarter last year. On average, equities analysts anticipate that CenterPoint Energy, Inc. will post $1.32 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 16th will be issued a $0.2675 dividend. The ex-dividend date is Monday, August 14th. This represents a $1.07 annualized dividend and a yield of 3.72%. CenterPoint Energy’s dividend payout ratio is currently 76.98%.
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A number of brokerages have recently weighed in on CNP. BidaskClub raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research cut CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. J P Morgan Chase & Co began coverage on CenterPoint Energy in a research note on Thursday, June 29th. They issued a “neutral” rating and a $29.00 price objective for the company. Finally, Deutsche Bank AG lifted their price objective on CenterPoint Energy from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $27.33.
In other news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $27.66, for a total transaction of $27,660.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 3,000 shares of company stock valued at $84,560. 0.20% of the stock is owned by insiders.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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