CenterPoint Energy, Inc. (NYSE:CNP - Get Free Report) Director Barry T. Smitherman sold 5,670 shares of the business's stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $29.42, for a total transaction of $166,811.40. Following the completion of the sale, the director now directly owns 21,203 shares in the company, valued at approximately $623,792.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
CenterPoint Energy Stock Up 0.1 %
CenterPoint Energy stock opened at $29.44 on Friday. The company has a market capitalization of $18.83 billion, a PE ratio of 20.73, a PEG ratio of 2.59 and a beta of 0.91. CenterPoint Energy, Inc. has a 12-month low of $25.42 and a 12-month high of $31.43. The firm's fifty day moving average is $28.18 and its 200 day moving average is $28.07. The company has a quick ratio of 0.58, a current ratio of 1.25 and a debt-to-equity ratio of 1.81.
CenterPoint Energy (NYSE:CNP - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.82 billion. CenterPoint Energy had a net margin of 11.03% and a return on equity of 10.57%. During the same quarter in the prior year, the business earned $0.50 earnings per share. As a group, sell-side analysts predict that CenterPoint Energy, Inc. will post 1.62 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 2.72%. CenterPoint Energy's dividend payout ratio (DPR) is presently 56.34%.
Institutional Investors Weigh In On CenterPoint Energy
Several hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings in shares of CenterPoint Energy by 302.6% in the 4th quarter. Pacer Advisors Inc. now owns 159,772 shares of the utilities provider's stock worth $4,565,000 after acquiring an additional 120,085 shares during the last quarter. Raymond James & Associates raised its stake in shares of CenterPoint Energy by 27.0% in the fourth quarter. Raymond James & Associates now owns 1,209,630 shares of the utilities provider's stock worth $34,559,000 after purchasing an additional 256,820 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of CenterPoint Energy in the fourth quarter valued at approximately $399,000. UBS Group AG boosted its position in shares of CenterPoint Energy by 37.5% during the third quarter. UBS Group AG now owns 1,540,465 shares of the utilities provider's stock valued at $41,361,000 after buying an additional 420,010 shares during the last quarter. Finally, Beach Investment Counsel Inc. PA grew its holdings in CenterPoint Energy by 32.5% during the fourth quarter. Beach Investment Counsel Inc. PA now owns 416,957 shares of the utilities provider's stock worth $11,912,000 after buying an additional 102,271 shares in the last quarter. Institutional investors own 91.77% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on CNP. StockNews.com upgraded CenterPoint Energy from a "sell" rating to a "hold" rating in a research report on Thursday. Scotiabank reduced their target price on CenterPoint Energy from $31.00 to $29.00 and set a "sector perform" rating on the stock in a report on Monday, April 22nd. Mizuho restated a "neutral" rating and set a $29.00 price target (down previously from $30.00) on shares of CenterPoint Energy in a report on Wednesday, February 21st. Evercore ISI downgraded shares of CenterPoint Energy from an "outperform" rating to an "in-line" rating and boosted their price target for the stock from $29.00 to $30.00 in a research report on Tuesday, January 23rd. Finally, Guggenheim decreased their price objective on shares of CenterPoint Energy from $33.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, CenterPoint Energy has an average rating of "Hold" and a consensus price target of $30.18.
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About CenterPoint Energy
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CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.
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