Oregon Public Employees Retirement Fund increased its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 9.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 123,390 shares of the utilities provider’s stock after buying an additional 11,000 shares during the period. Oregon Public Employees Retirement Fund’s holdings in CenterPoint Energy were worth $3,378,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in shares of CenterPoint Energy by 0.3% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 9,398 shares of the utilities provider’s stock worth $260,000 after buying an additional 32 shares in the last quarter. Cleararc Capital Inc. raised its stake in shares of CenterPoint Energy by 0.8% in the first quarter. Cleararc Capital Inc. now owns 10,542 shares of the utilities provider’s stock worth $291,000 after buying an additional 84 shares in the last quarter. Advantus Capital Management Inc raised its stake in shares of CenterPoint Energy by 0.3% in the first quarter. Advantus Capital Management Inc now owns 43,232 shares of the utilities provider’s stock worth $1,192,000 after buying an additional 119 shares in the last quarter. Conning Inc. raised its stake in shares of CenterPoint Energy by 1.5% in the first quarter. Conning Inc. now owns 11,302 shares of the utilities provider’s stock worth $312,000 after buying an additional 170 shares in the last quarter. Finally, Atlantic Trust Group LLC raised its stake in shares of CenterPoint Energy by 2.0% in the first quarter. Atlantic Trust Group LLC now owns 10,278 shares of the utilities provider’s stock worth $284,000 after buying an additional 200 shares in the last quarter. 76.76% of the stock is currently owned by institutional investors.
Shares of CenterPoint Energy, Inc. (NYSE CNP) traded up 0.83% during midday trading on Friday, hitting $29.01. The stock had a trading volume of 3,520,555 shares. CenterPoint Energy, Inc. has a one year low of $21.83 and a one year high of $29.45. The company has a market cap of $12.50 billion, a P/E ratio of 20.72 and a beta of 0.64. The firm has a 50 day moving average of $28.08 and a 200-day moving average of $27.77.
CenterPoint Energy (NYSE:CNP) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.07. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.98 billion. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. The firm’s revenue for the quarter was up 36.1% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share. On average, analysts forecast that CenterPoint Energy, Inc. will post $1.34 earnings per share for the current fiscal year.
The firm also recently announced 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. This represents a $1.07 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Monday, August 14th. CenterPoint Energy’s payout ratio is 76.98%.
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A number of brokerages have weighed in on CNP. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. BidaskClub lowered CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Credit Suisse Group raised CenterPoint Energy from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $28.82 to $29.00 in a report on Monday. Finally, J P Morgan Chase & Co began coverage on CenterPoint Energy in a report on Thursday, June 29th. They issued a “neutral” rating and a $29.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $27.78.
In related news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $28.67, for a total value of $28,670.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 3,000 shares of company stock valued at $84,560 over the last 90 days. 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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