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.

In other news, CEO Scott M. Prochazka sold 4,000 shares of the stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $27.09, for a total value of $108,360.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by corporate insiders.

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%.

WARNING: “ING Groep NV Cuts Stake in CenterPoint Energy, Inc. (CNP)” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another publication, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.thecerbatgem.com/2018/11/16/ing-groep-nv-cuts-stake-in-centerpoint-energy-inc-cnp.html.

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.

Featured Story: Retained Earnings

Want to see what other hedge funds are holding CNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CenterPoint Energy, Inc. (NYSE:CNP).

Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.