Northwestern Mutual Investment Management Company LLC Sells 70,632 Shares of CenterPoint Energy, Inc. (CNP)
Northwestern Mutual Investment Management Company LLC cut its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 81.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,428 shares of the utilities provider’s stock after selling 70,632 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in CenterPoint Energy were worth $394,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. AXA acquired a new stake in CenterPoint Energy during the 1st quarter worth approximately $3,436,000. BlackRock Inc. boosted its position in CenterPoint Energy by 1,521.6% during the 1st quarter. BlackRock Inc. now owns 39,034,890 shares of the utilities provider’s stock worth $1,076,193,000 after buying an additional 36,627,665 shares during the period. Sawtooth Solutions LLC boosted its position in CenterPoint Energy by 13.1% during the 1st quarter. Sawtooth Solutions LLC now owns 10,003 shares of the utilities provider’s stock worth $276,000 after buying an additional 1,162 shares during the period. Federated Investors Inc. PA boosted its position in CenterPoint Energy by 160.1% during the 2nd quarter. Federated Investors Inc. PA now owns 84,599 shares of the utilities provider’s stock worth $2,316,000 after buying an additional 52,078 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its position in CenterPoint Energy by 508.7% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 66,425 shares of the utilities provider’s stock worth $1,819,000 after buying an additional 55,513 shares during the period. Institutional investors and hedge funds own 76.89% of the company’s stock.
CenterPoint Energy, Inc. (NYSE:CNP) opened at 30.27 on Friday. The stock has a 50 day moving average of $29.30 and a 200-day moving average of $28.25. The firm has a market cap of $13.05 billion, a P/E ratio of 21.62 and a beta of 0.63. CenterPoint Energy, Inc. has a 12 month low of $21.83 and a 12 month high of $30.45.
CenterPoint Energy (NYSE:CNP) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.07. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the business earned $0.17 earnings per share. The business’s revenue was up 36.1% on a year-over-year basis. Equities research analysts predict that CenterPoint Energy, Inc. will post $1.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Wednesday, August 16th were issued a $0.2675 dividend. This represents a $1.07 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Monday, August 14th. CenterPoint Energy’s dividend payout ratio is 76.98%.
Several equities research analysts recently commented on the stock. Royal Bank Of Canada reiterated a “hold” rating and set a $29.00 target price on shares of CenterPoint Energy in a research report on Monday, September 11th. BidaskClub upgraded shares of CenterPoint Energy from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 23rd. Credit Suisse Group upgraded shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $28.82 to $29.00 in a research report on Monday, August 14th. Zacks Investment Research downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Finally, J P Morgan Chase & Co initiated coverage on shares of CenterPoint Energy in a research report on Thursday, June 29th. They issued a “neutral” rating and a $29.00 price target on the stock. Eight analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $27.89.
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In other news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $27.66, for a total value of $27,660.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 3,000 shares of company stock worth $85,500 in the last 90 days. Company insiders own 0.20% of the company’s stock.
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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