Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Stake in CenterPoint Energy, Inc. (CNP)
Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in CenterPoint Energy, Inc. (NYSE:CNP) by 23.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,163 shares of the utilities provider’s stock after buying an additional 21,226 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in CenterPoint Energy were worth $3,044,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of CNP. Van ECK Associates Corp increased its position in CenterPoint Energy by 18.0% in the first quarter. Van ECK Associates Corp now owns 3,695 shares of the utilities provider’s stock worth $102,000 after buying an additional 564 shares during the period. Paradigm Asset Management Co. LLC increased its position in CenterPoint Energy by 2.2% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock worth $126,000 after buying an additional 100 shares during the period. Johnson Financial Group Inc. increased its position in CenterPoint Energy by 28.8% in the first quarter. Johnson Financial Group Inc. now owns 4,843 shares of the utilities provider’s stock worth $134,000 after buying an additional 1,084 shares during the period. Huntington National Bank increased its position in CenterPoint Energy by 58.1% in the second quarter. Huntington National Bank now owns 6,121 shares of the utilities provider’s stock worth $168,000 after buying an additional 2,250 shares during the period. Finally, Mirador Capital Partners LP purchased a new position in CenterPoint Energy during the first quarter worth about $200,000. Institutional investors and hedge funds own 76.85% of the company’s stock.
CenterPoint Energy, Inc. (NYSE CNP) opened at 29.66 on Thursday. The stock’s 50 day moving average price is $28.41 and its 200 day moving average price is $27.91. CenterPoint Energy, Inc. has a one year low of $21.83 and a one year high of $29.89. The company has a market capitalization of $12.78 billion, a P/E ratio of 21.19 and a beta of 0.64.
CenterPoint Energy (NYSE:CNP) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.07. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the business earned $0.17 EPS. The business’s quarterly revenue was up 36.1% on a year-over-year basis. Equities analysts anticipate that CenterPoint Energy, Inc. will post $1.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Wednesday, August 16th will be issued a $0.2675 dividend. This represents a $1.07 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Monday, August 14th. CenterPoint Energy’s payout ratio is currently 76.98%.
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A number of research firms have issued reports on CNP. BidaskClub upgraded CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Credit Suisse Group upgraded CenterPoint Energy from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $28.82 to $29.00 in a report on Monday, August 14th. 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 for the company. Nine research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. CenterPoint Energy has an average rating of “Hold” and an average price target of $27.78.
In other news, CEO Scott M. Prochazka sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $28.23, for a total value of $28,230.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by insiders.
CenterPoint Energy Company Profile
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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