CenterPoint Energy, Inc. (NYSE:CNP) Shares Purchased by AE Wealth Management LLC


AE Wealth Management LLC boosted its holdings in CenterPoint Energy, Inc. (NYSE:CNPFree Report) by 34.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 91,343 shares of the utilities provider’s stock after buying an additional 23,517 shares during the period. AE Wealth Management LLC’s holdings in CenterPoint Energy were worth $2,691,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CNP. Private Advisor Group LLC acquired a new stake in CenterPoint Energy in the 1st quarter worth about $440,000. Raymond James Trust N.A. lifted its stake in shares of CenterPoint Energy by 59.0% in the 1st quarter. Raymond James Trust N.A. now owns 14,757 shares of the utilities provider’s stock valued at $452,000 after purchasing an additional 5,475 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of CenterPoint Energy by 28.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,585,045 shares of the utilities provider’s stock valued at $79,208,000 after purchasing an additional 572,884 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in shares of CenterPoint Energy by 9.0% in the 1st quarter. Vontobel Holding Ltd. now owns 32,098 shares of the utilities provider’s stock valued at $988,000 after purchasing an additional 2,642 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of CenterPoint Energy by 59.3% in the 1st quarter. Sei Investments Co. now owns 738,270 shares of the utilities provider’s stock valued at $22,615,000 after purchasing an additional 274,696 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CenterPoint Energy

In related news, Director Barry T. Smitherman sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $30.51, for a total transaction of $152,550.00. Following the completion of the transaction, the director now owns 21,075 shares in the company, valued at approximately $642,998.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other CenterPoint Energy news, Director Barry T. Smitherman sold 5,000 shares of the business’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $30.51, for a total transaction of $152,550.00. Following the completion of the transaction, the director now owns 21,075 shares in the company, valued at approximately $642,998.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ted Pound sold 2,770 shares of the business’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $30.50, for a total value of $84,485.00. Following the transaction, the director now owns 46,541 shares of the company’s stock, valued at approximately $1,419,500.50. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

CenterPoint Energy Price Performance

Shares of CNP opened at $29.15 on Friday. The firm has a market cap of $18.39 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 2.60 and a beta of 0.88. The stock has a 50 day moving average of $29.28 and a 200-day moving average of $29.49. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 1.65. CenterPoint Energy, Inc. has a 52 week low of $25.03 and a 52 week high of $33.50.

CenterPoint Energy (NYSE:CNPFree Report) last issued its earnings results on Thursday, April 27th. The utilities provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.79 billion. CenterPoint Energy had a return on equity of 9.97% and a net margin of 8.99%. During the same quarter last year, the firm earned $0.47 EPS. As a group, analysts forecast that CenterPoint Energy, Inc. will post 1.49 EPS for the current year.

CenterPoint Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 8th. Investors of record on Thursday, May 18th were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, May 17th. This represents a $0.76 dividend on an annualized basis and a yield of 2.61%. CenterPoint Energy’s dividend payout ratio is currently 60.32%.

Analyst Ratings Changes

CNP has been the topic of several research analyst reports. UBS Group lowered CenterPoint Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $30.00 in a research note on Tuesday, June 6th. They noted that the move was a valuation call. Royal Bank of Canada reiterated an “outperform” rating and set a $33.00 target price on shares of CenterPoint Energy in a report on Monday, March 6th. Guggenheim upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Monday, June 12th. StockNews.com downgraded CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 11th. Finally, Bank of America lifted their price objective on CenterPoint Energy from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, April 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.44.

About CenterPoint Energy

(Free Report)

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. 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.

Read More

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:CNPFree Report).

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider CenterPoint Energy, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and CenterPoint Energy wasn’t on the list.

While CenterPoint Energy currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Beginners Guide To Pot Stock Investing Cover

Click the link below and we’ll send you MarketBeat’s guide to pot stock investing and which pot companies show the most promise.

Get This Free Report



Source link

Translate »