CenterPoint Energy, Inc. (CNP) Shares Sold by Palisade Asset Management LLC
Palisade Asset Management LLC lessened its position in CenterPoint Energy, Inc. (NYSE:CNP) by 2.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 91,306 shares of the utilities provider’s stock after selling 1,957 shares during the quarter. Palisade Asset Management LLC’s holdings in CenterPoint Energy were worth $2,803,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Financial Architects Inc acquired a new position in CenterPoint Energy in the 4th quarter valued at approximately $28,000. PRW Wealth Management LLC acquired a new position in CenterPoint Energy in the 4th quarter valued at approximately $29,000. Flagship Harbor Advisors LLC increased its stake in CenterPoint Energy by 174.6% in the 1st quarter. Flagship Harbor Advisors LLC now owns 950 shares of the utilities provider’s stock valued at $29,000 after buying an additional 604 shares during the period. Claybrook Capital LLC acquired a new position in CenterPoint Energy in the 4th quarter valued at approximately $31,000. Finally, Sound Income Strategies LLC increased its stake in CenterPoint Energy by 793.7% in the 4th quarter. Sound Income Strategies LLC now owns 1,126 shares of the utilities provider’s stock valued at $32,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 81.37% of the company’s stock.
In related news, insider Milton Carroll sold 40,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $30.02, for a total value of $1,200,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott M. Prochazka sold 4,000 shares of the firm’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $30.72, for a total transaction of $122,880.00. The disclosure for this sale can be found here. Insiders sold a total of 132,000 shares of company stock worth $3,983,610 over the last quarter. 0.24% of the stock is currently owned by company insiders.
CenterPoint Energy (NYSE:CNP) last posted its earnings results on Thursday, February 28th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. CenterPoint Energy had a net margin of 3.48% and a return on equity of 14.16%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the business posted $0.33 EPS. As a group, research analysts predict that CenterPoint Energy, Inc. will post 1.64 earnings per share for the current fiscal year.
Several research firms have weighed in on CNP. Goldman Sachs Group began coverage on shares of CenterPoint Energy in a research note on Monday, February 25th. They issued a “buy” rating and a $34.00 price objective on the stock. ValuEngine upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. Credit Suisse Group set a $32.00 price target on shares of CenterPoint Energy and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, Wells Fargo & Co restated a “buy” rating on shares of CenterPoint Energy in a research note on Thursday, February 28th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. CenterPoint Energy currently has an average rating of “Buy” and a consensus price target of $31.60.
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CenterPoint Energy 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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