Vinva Investment Management Ltd Reduces Stock Position in CenterPoint Energy, Inc. (NYSE:CNP)

Vinva Investment Management Ltd reduced its position in shares of CenterPoint Energy, Inc. (NYSE:CNPFree Report) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,927 shares of the utilities provider’s stock after selling 1,387 shares during the period. Vinva Investment Management Ltd’s holdings in CenterPoint Energy were worth $369,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC boosted its holdings in shares of CenterPoint Energy by 163.7% during the fourth quarter. Global Retirement Partners LLC now owns 894 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 555 shares during the period. Western Pacific Wealth Management LP purchased a new stake in shares of CenterPoint Energy during the fourth quarter worth about $48,000. Bay Harbor Wealth Management LLC purchased a new stake in CenterPoint Energy in the fourth quarter worth about $49,000. Benjamin F. Edwards & Company Inc. boosted its position in CenterPoint Energy by 73.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,094 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 884 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of CenterPoint Energy by 26.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the utilities provider’s stock worth $68,000 after acquiring an additional 492 shares during the period. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CNP. Guggenheim lowered their target price on CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Barclays boosted their target price on shares of CenterPoint Energy from $28.00 to $29.00 and gave the company an “underweight” rating in a report on Thursday, March 14th. Morgan Stanley increased their price target on shares of CenterPoint Energy from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. StockNews.com lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Mizuho reaffirmed a “neutral” rating and set a $29.00 target price (down previously from $30.00) on shares of CenterPoint Energy in a research note on Wednesday, February 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.80.

Get Our Latest Analysis on CenterPoint Energy

CenterPoint Energy Stock Down 0.3 %

Shares of CenterPoint Energy stock opened at $30.17 on Friday. The company has a 50-day simple moving average of $29.15 and a two-hundred day simple moving average of $28.52. The stock has a market capitalization of $19.30 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 2.66 and a beta of 0.91. CenterPoint Energy, Inc. has a 52-week low of $25.42 and a 52-week high of $31.43. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.25.

CenterPoint Energy (NYSE:CNPGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. CenterPoint Energy had a net margin of 11.03% and a return on equity of 10.57%. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the business earned $0.50 EPS. On average, analysts anticipate that CenterPoint Energy, Inc. will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Wednesday, May 15th. CenterPoint Energy’s payout ratio is currently 56.34%.

Insider Activity at CenterPoint Energy

In other CenterPoint Energy news, Director Barry T. Smitherman sold 5,670 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $29.42, for a total value of $166,811.40. Following the completion of the transaction, the director now owns 21,203 shares of the company’s stock, valued at approximately $623,792.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by insiders.

About CenterPoint Energy

(Free Report)

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.

See Also

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

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