Cubist Systematic Strategies LLC Trims Position in CenterPoint Energy, Inc. (CNP)
Cubist Systematic Strategies LLC lessened its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 34.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,887 shares of the utilities provider’s stock after selling 23,757 shares during the period. Cubist Systematic Strategies LLC’s holdings in CenterPoint Energy were worth $1,244,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Braun Bostich & Associates Inc. increased its position in CenterPoint Energy by 1,372.0% in the second quarter. Braun Bostich & Associates Inc. now owns 4,151 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 3,869 shares during the last quarter. Ropes Wealth Advisors LLC bought a new stake in CenterPoint Energy in the second quarter worth $130,000. Signet Financial Management LLC increased its position in CenterPoint Energy by 649.6% in the second quarter. Signet Financial Management LLC now owns 5,322 shares of the utilities provider’s stock worth $147,000 after purchasing an additional 4,612 shares during the last quarter. Whittier Trust Co. increased its position in CenterPoint Energy by 2,745.0% in the second quarter. Whittier Trust Co. now owns 8,535 shares of the utilities provider’s stock worth $218,000 after purchasing an additional 8,235 shares during the last quarter. Finally, Signition LP bought a new stake in CenterPoint Energy in the second quarter worth $246,000. Institutional investors own 77.27% of the company’s stock.
Several equities research analysts recently weighed in on CNP shares. Zacks Investment Research upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Tuesday, June 12th. ValuEngine upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. SunTrust Banks restated a “hold” rating and issued a $30.00 price target on shares of CenterPoint Energy in a research report on Monday, August 6th. Bank of America upgraded shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 28th. Finally, JPMorgan Chase & Co. upgraded shares of CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 price objective on the stock in a research report on Wednesday, September 5th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. CenterPoint Energy presently has an average rating of “Hold” and a consensus target price of $28.86.
CNP stock opened at $28.60 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.83 and a debt-to-equity ratio of 1.66. CenterPoint Energy, Inc. has a twelve month low of $24.81 and a twelve month high of $30.17. The firm has a market cap of $12.48 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 3.17 and a beta of 0.45.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Friday, August 3rd. The utilities provider reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.02). CenterPoint Energy had a net margin of 15.43% and a return on equity of 10.73%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the firm earned $0.29 EPS. The company’s revenue was up 2.0% on a year-over-year basis. analysts anticipate that CenterPoint Energy, Inc. will post 1.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 13th. Shareholders of record on Thursday, August 16th were given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date was Wednesday, August 15th. CenterPoint Energy’s dividend payout ratio (DPR) is 81.02%.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
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