Sit Investment Associates Inc. Lowers Stake in CenterPoint Energy Inc. (CNP)
Sit Investment Associates Inc. reduced its stake in CenterPoint Energy Inc. (NYSE:CNP) by 44.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 678,175 shares of the company’s stock after selling 543,475 shares during the period. Sit Investment Associates Inc. owned approximately 0.16% of CenterPoint Energy worth $16,276,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. M&T Bank Corp purchased a new stake in shares of CenterPoint Energy during the first quarter valued at $430,000. Bessemer Group Inc. boosted its stake in shares of CenterPoint Energy by 24.0% in the first quarter. Bessemer Group Inc. now owns 37,606 shares of the company’s stock valued at $787,000 after buying an additional 7,280 shares in the last quarter. Palisade Capital Management LLC NJ boosted its stake in shares of CenterPoint Energy by 1.0% in the first quarter. Palisade Capital Management LLC NJ now owns 39,275 shares of the company’s stock valued at $822,000 after buying an additional 400 shares in the last quarter. USS Investment Management Ltd bought a new position in CenterPoint Energy during the first quarter valued at approximately $6,962,000. Finally, Sentry Investment Management LLC raised its position in CenterPoint Energy by 5.2% in the first quarter. Sentry Investment Management LLC now owns 32,212 shares of the company’s stock valued at $674,000 after buying an additional 1,586 shares during the last quarter. Institutional investors and hedge funds own 77.05% of the company’s stock.
Shares of CenterPoint Energy Inc. (NYSE:CNP) traded down 0.157% on Thursday, hitting $22.315. The stock had a trading volume of 2,615,753 shares. CenterPoint Energy Inc. has a 12-month low of $16.05 and a 12-month high of $24.71. The stock has a 50 day moving average price of $23.03 and a 200-day moving average price of $22.60. The company’s market cap is $9.61 billion.
CenterPoint Energy (NYSE:CNP) last released its earnings results on Friday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.03. The company earned $1.57 billion during the quarter, compared to analysts’ expectations of $1.62 billion. CenterPoint Energy had a negative net margin of 10.72% and a positive return on equity of 13.48%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.19 earnings per share. On average, equities analysts expect that CenterPoint Energy Inc. will post $1.15 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Tuesday, August 16th were issued a $0.2575 dividend. The ex-dividend date was Friday, August 12th. This represents a $1.03 dividend on an annualized basis and a yield of 4.61%. CenterPoint Energy’s dividend payout ratio (DPR) is presently -59.20%.
Several research analysts have recently commented on the company. TheStreet lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. SunTrust Banks Inc. reissued a “hold” rating and issued a $24.00 price target on shares of CenterPoint Energy in a research report on Tuesday, August 2nd. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. RBC Capital Markets set a $26.00 price target on CenterPoint Energy and gave the stock a “buy” rating in a research report on Monday, August 8th. Finally, Credit Suisse Group AG set a $24.00 price target on CenterPoint Energy and gave the stock a “hold” rating in a research report on Monday, August 8th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.68.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company’s segments include Electric Transmission & Distribution, Natural Gas Distribution, Energy Services, Midstream Investments and Other Operations. Its Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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