Elkhorn Investments LLC Purchases Shares of 40,644 CenterPoint Energy, Inc. (CNP)
Elkhorn Investments LLC purchased a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 40,644 shares of the utilities provider’s stock, valued at approximately $1,160,000.
A number of other institutional investors and hedge funds have also bought and sold shares of CNP. Van ECK Associates Corp boosted its position in CenterPoint Energy by 18.0% during the first quarter. Van ECK Associates Corp now owns 3,695 shares of the utilities provider’s stock worth $102,000 after acquiring an additional 564 shares during the last quarter. Paradigm Asset Management Co. LLC boosted its position in CenterPoint Energy by 2.2% during the second quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock worth $126,000 after acquiring an additional 100 shares during the last quarter. Johnson Financial Group Inc. boosted its position in CenterPoint Energy by 28.8% during the first quarter. Johnson Financial Group Inc. now owns 4,843 shares of the utilities provider’s stock worth $134,000 after acquiring an additional 1,084 shares during the last quarter. Pinebridge Investments L.P. acquired a new position in CenterPoint Energy during the second quarter worth about $154,000. Finally, Huntington National Bank boosted its position in CenterPoint Energy by 58.1% during the second quarter. Huntington National Bank now owns 6,121 shares of the utilities provider’s stock worth $168,000 after acquiring an additional 2,250 shares during the last quarter. Hedge funds and other institutional investors own 76.87% of the company’s stock.
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Shares of CenterPoint Energy, Inc. (NYSE:CNP) traded down 0.98% during midday trading on Friday, reaching $29.20. 2,626,025 shares of the company traded hands. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of 20.86 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. The company’s 50 day moving average is $29.40 and its 200-day moving average is $28.29.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $1.98 billion. During the same quarter last year, the firm posted $0.17 earnings per share. CenterPoint Energy’s revenue for the quarter was up 36.1% compared to the same quarter last year. Equities research analysts forecast that CenterPoint Energy, Inc. will post $1.34 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Wednesday, August 16th were issued a $0.2675 dividend. The ex-dividend date was Monday, August 14th. This represents a $1.07 annualized dividend and a yield of 3.66%. CenterPoint Energy’s payout ratio is 76.98%.
A number of equities analysts have commented on CNP shares. BidaskClub raised shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $29.00 target price on shares of CenterPoint Energy in a research note on Monday, September 11th. Credit Suisse Group raised shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $28.82 to $29.00 in a research note on Monday, August 14th. Finally, J P Morgan Chase & Co started coverage on shares of CenterPoint Energy in a research note on Thursday, June 29th. They set a “neutral” rating and a $29.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $27.89.
In related news, CEO Scott M. Prochazka sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $29.61, for a total value of $29,610.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 3,000 shares of company stock worth $85,500 in the last 90 days. 0.20% of the stock is currently owned by insiders.
CenterPoint Energy 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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