Rothschild Asset Management Inc. Boosts Stake in CenterPoint Energy, Inc. (NYSE:CNP)
Rothschild Asset Management Inc. boosted its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 5.3% during the second quarter, Holdings Channel reports. The fund owned 18,421 shares of the utilities provider’s stock after buying an additional 924 shares during the period. Rothschild Asset Management Inc.’s holdings in CenterPoint Energy were worth $504,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp boosted its stake in shares of CenterPoint Energy by 18.0% in the first quarter. Van ECK Associates Corp now owns 3,695 shares of the utilities provider’s stock valued at $102,000 after buying an additional 564 shares during the last quarter. Johnson Financial Group Inc. boosted its stake in shares of CenterPoint Energy by 28.8% in the first quarter. Johnson Financial Group Inc. now owns 4,843 shares of the utilities provider’s stock valued at $134,000 after buying an additional 1,084 shares during the last quarter. Huntington National Bank boosted its stake in shares of CenterPoint Energy by 58.1% in the second quarter. Huntington National Bank now owns 6,121 shares of the utilities provider’s stock valued at $168,000 after buying an additional 2,250 shares during the last quarter. Mirador Capital Partners LP purchased a new stake in shares of CenterPoint Energy during the first quarter valued at approximately $200,000. Finally, Usca Ria LLC bought a new position in CenterPoint Energy during the first quarter worth $204,000. Hedge funds and other institutional investors own 77.16% of the company’s stock.
CenterPoint Energy, Inc. (NYSE CNP) opened at 28.82 on Friday. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of 20.59 and a beta of 0.64. CenterPoint Energy, Inc. has a 1-year low of $21.83 and a 1-year high of $29.45. The firm’s 50-day moving average price is $28.00 and its 200-day moving average price is $27.68.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.07. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.98 billion. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. CenterPoint Energy’s revenue was up 36.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 earnings per share. On average, equities research analysts anticipate that CenterPoint Energy, Inc. will post $1.33 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.2675 per share. This represents a $1.07 annualized dividend and a yield of 3.71%. The ex-dividend date is Monday, August 14th. CenterPoint Energy’s payout ratio is 76.98%.
A number of equities analysts have weighed in on the company. BidaskClub lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. J P Morgan Chase & Co assumed coverage on CenterPoint Energy in a research note on Thursday, June 29th. They set a “neutral” rating and a $29.00 price objective on the stock. Finally, Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $27.33.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $28.23, for a total transaction of $28,230.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 3,000 shares of company stock valued at $84,560 in the last three months. 0.20% of the stock is currently owned by company 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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