Municipal Employees Retirement System of Michigan raised its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 237.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,370 shares of the utilities provider’s stock after buying an additional 32,620 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in CenterPoint Energy were worth $1,269,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of CenterPoint Energy by 5.3% in the first quarter. Vanguard Group Inc. now owns 47,293,206 shares of the utilities provider’s stock valued at $1,303,873,000 after buying an additional 2,359,375 shares in the last quarter. BlackRock Inc. increased its stake in shares of CenterPoint Energy by 1,521.6% in the first quarter. BlackRock Inc. now owns 39,034,890 shares of the utilities provider’s stock valued at $1,076,193,000 after buying an additional 36,627,665 shares in the last quarter. State Street Corp increased its stake in shares of CenterPoint Energy by 3.6% in the first quarter. State Street Corp now owns 23,857,898 shares of the utilities provider’s stock valued at $657,763,000 after buying an additional 818,887 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of CenterPoint Energy by 4.5% in the first quarter. Ameriprise Financial Inc. now owns 8,773,687 shares of the utilities provider’s stock valued at $241,889,000 after buying an additional 374,264 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of CenterPoint Energy by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 6,415,948 shares of the utilities provider’s stock valued at $176,889,000 after buying an additional 166,192 shares in the last quarter. 76.76% of the stock is owned by institutional investors and hedge funds.
Shares of CenterPoint Energy, Inc. (CNP) traded up 0.83% on Friday, hitting $29.01. The company had a trading volume of 3,520,555 shares. CenterPoint Energy, Inc. has a 1-year low of $21.83 and a 1-year high of $29.45. The firm has a market capitalization of $12.50 billion, a price-to-earnings ratio of 20.72 and a beta of 0.64. The company has a 50 day moving average price of $28.13 and a 200 day moving average price of $27.79.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.07. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.98 billion. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The firm’s quarterly revenue was up 36.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 EPS. On average, equities analysts forecast that CenterPoint Energy, Inc. will post $1.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 16th will be issued a dividend of $0.2675 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.07 dividend on an annualized basis and a yield of 3.69%. CenterPoint Energy’s dividend payout ratio (DPR) is 76.98%.
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CNP has been the subject of several research reports. Zacks Investment Research raised CenterPoint Energy from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Monday, June 5th. BidaskClub raised CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Credit Suisse Group raised CenterPoint Energy from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $28.82 to $29.00 in a report on Monday, August 14th. Finally, J P Morgan Chase & Co started coverage on CenterPoint Energy in a report on Thursday, June 29th. They set a “neutral” rating and a $29.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. CenterPoint Energy has a consensus rating of “Hold” and a consensus target price of $27.78.
In related news, CEO Scott M. Prochazka sold 1,000 shares of the 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 legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 3,000 shares of company stock worth $84,560 in the last three months. 0.20% of the stock is currently 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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