ING Groep NV Cuts Stake in CenterPoint Energy, Inc. (CNP)
ING Groep NV lessened its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,653 shares of the utilities provider’s stock after selling 2,051 shares during the quarter. ING Groep NV’s holdings in CenterPoint Energy were worth $1,898,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in CNP. Braun Bostich & Associates Inc. raised its position in CenterPoint Energy by 1,372.0% during the second quarter. Braun Bostich & Associates Inc. now owns 4,151 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 3,869 shares in the last quarter. Ropes Wealth Advisors LLC bought a new stake in CenterPoint Energy during the second quarter worth $130,000. Signet Financial Management LLC raised its position in CenterPoint Energy by 649.6% during the second quarter. Signet Financial Management LLC now owns 5,322 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 4,612 shares in the last quarter. FNY Investment Advisers LLC raised its position in CenterPoint Energy by 2,962.2% during the third quarter. FNY Investment Advisers LLC now owns 6,400 shares of the utilities provider’s stock worth $176,000 after acquiring an additional 6,191 shares in the last quarter. Finally, UMB Bank N A MO bought a new stake in CenterPoint Energy during the third quarter worth $210,000. 67.25% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on CNP. Wells Fargo & Co reaffirmed a “buy” rating on shares of CenterPoint Energy in a research report on Friday, November 9th. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. ValuEngine lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Barclays began coverage on shares of CenterPoint Energy in a research report on Monday, October 22nd. They set a “hold” rating and a $30.00 price target on the stock. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $30.00 price target on shares of CenterPoint Energy in a research report on Monday, August 6th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. CenterPoint Energy presently has a consensus rating of “Hold” and an average target price of $29.33.
NYSE CNP opened at $27.55 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 1.06. CenterPoint Energy, Inc. has a 1 year low of $24.81 and a 1 year high of $30.17. The firm has a market cap of $14.14 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 2.99 and a beta of 0.43.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Thursday, November 8th. The utilities provider reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.26 billion. CenterPoint Energy had a net margin of 15.15% and a return on equity of 14.40%. CenterPoint Energy’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share. Equities research analysts anticipate that CenterPoint Energy, Inc. will post 1.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 15th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Wednesday, November 14th. CenterPoint Energy’s payout ratio is presently 81.02%.
About CenterPoint Energy
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
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