Hennessy Advisors Inc. Has $23,121,000 Position in CenterPoint Energy Inc. (CNP)
Hennessy Advisors Inc. raised its stake in shares of CenterPoint Energy Inc. (NYSE:CNP) by 11.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 995,328 shares of the company’s stock after buying an additional 103,000 shares during the period. Hennessy Advisors Inc. owned about 0.23% of CenterPoint Energy worth $23,121,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in CenterPoint Energy by 8.1% in the second quarter. Vanguard Group Inc. now owns 40,770,130 shares of the company’s stock worth $978,482,000 after buying an additional 3,051,778 shares during the last quarter. Principal Financial Group Inc. increased its stake in CenterPoint Energy by 392.3% in the second quarter. Principal Financial Group Inc. now owns 3,085,768 shares of the company’s stock worth $74,059,000 after buying an additional 2,458,973 shares during the last quarter. Numeric Investors LLC increased its stake in CenterPoint Energy by 805.7% in the second quarter. Numeric Investors LLC now owns 2,383,000 shares of the company’s stock worth $57,192,000 after buying an additional 2,119,900 shares during the last quarter. AQR Capital Management LLC increased its stake in CenterPoint Energy by 605.9% in the second quarter. AQR Capital Management LLC now owns 2,349,846 shares of the company’s stock worth $56,397,000 after buying an additional 2,016,960 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in CenterPoint Energy by 156.6% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,232,990 shares of the company’s stock worth $53,592,000 after buying an additional 1,362,728 shares during the last quarter. Institutional investors own 73.65% of the company’s stock.
Shares of CenterPoint Energy Inc. (NYSE:CNP) traded up 0.54% during trading on Tuesday, hitting $24.30. 733,177 shares of the stock traded hands. CenterPoint Energy Inc. has a one year low of $16.05 and a one year high of $24.71. The company’s market cap is $10.47 billion. The firm has a 50 day moving average price of $22.89 and a 200-day moving average price of $23.06.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Friday, November 4th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.98 billion. CenterPoint Energy had a negative net margin of 2.46% and a positive return on equity of 15.00%. CenterPoint Energy’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. Analysts anticipate that CenterPoint Energy Inc. will post $1.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Wednesday, November 16th will be issued a $0.2575 dividend. The ex-dividend date is Monday, November 14th. This represents a $1.03 annualized dividend and a yield of 4.25%. CenterPoint Energy’s dividend payout ratio (DPR) is presently -245.24%.
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A number of analysts have recently commented on CNP shares. Guggenheim started coverage on CenterPoint Energy in a report on Thursday, November 3rd. They set a “buy” rating and a $25.00 price objective for the company. RBC Capital Markets set a $26.00 price objective on CenterPoint Energy and gave the stock a “buy” rating in a report on Monday, August 8th. TheStreet downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Deutsche Bank AG dropped their price objective on CenterPoint Energy from $24.50 to $24.00 and set a “hold” rating for the company in a report on Monday, August 8th. Finally, SunTrust Banks Inc. reaffirmed a “hold” rating and set a $24.00 price target on shares of CenterPoint Energy in a research report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. CenterPoint Energy presently has an average rating of “Hold” and a consensus target price of $23.02.
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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