CIBC Private Wealth Group LLC Cuts Stake in CenterPoint Energy, Inc. (NYSE:CNP)

CIBC Private Wealth Group LLC lessened its position in shares of CenterPoint Energy, Inc. (NYSE:CNPGet Rating) by 17.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 459,731 shares of the utilities provider’s stock after selling 100,000 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.07% of CenterPoint Energy worth $12,831,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Morgan Stanley boosted its holdings in shares of CenterPoint Energy by 113.6% in the 2nd quarter. Morgan Stanley now owns 1,822,550 shares of the utilities provider’s stock worth $44,689,000 after purchasing an additional 969,280 shares during the period. Commonwealth Equity Services LLC raised its position in CenterPoint Energy by 1.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 106,213 shares of the utilities provider’s stock valued at $2,612,000 after purchasing an additional 1,354 shares in the last quarter. Nordea Investment Management AB raised its position in CenterPoint Energy by 100.0% during the 3rd quarter. Nordea Investment Management AB now owns 58,628 shares of the utilities provider’s stock valued at $1,462,000 after purchasing an additional 29,314 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of CenterPoint Energy by 4.0% in the 3rd quarter. New York State Common Retirement Fund now owns 589,743 shares of the utilities provider’s stock worth $14,508,000 after acquiring an additional 22,558 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of CenterPoint Energy by 22.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 72,855 shares of the utilities provider’s stock worth $1,792,000 after acquiring an additional 13,165 shares in the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.

NYSE:CNP traded down $0.83 during mid-day trading on Friday, hitting $30.61. The company’s stock had a trading volume of 4,372,226 shares, compared to its average volume of 5,109,704. The company has a market capitalization of $19.27 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 5.95 and a beta of 0.94. The stock has a fifty day moving average of $30.06 and a 200-day moving average of $28.14. The company has a current ratio of 1.72, a quick ratio of 1.57 and a debt-to-equity ratio of 1.80. CenterPoint Energy, Inc. has a fifty-two week low of $23.58 and a fifty-two week high of $33.00.

CenterPoint Energy (NYSE:CNPGet Rating) last released its quarterly earnings results on Tuesday, February 22nd. The utilities provider reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.05. CenterPoint Energy had a net margin of 17.79% and a return on equity of 14.46%. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the firm earned $0.29 earnings per share. On average, equities analysts anticipate that CenterPoint Energy, Inc. will post 1.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 9th. Stockholders of record on Thursday, May 19th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, May 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.22%. CenterPoint Energy’s dividend payout ratio is 30.09%.

Several brokerages recently weighed in on CNP. StockNews.com initiated coverage on CenterPoint Energy in a research note on Thursday, March 31st. They set a “sell” rating on the stock. Wells Fargo & Company increased their target price on CenterPoint Energy from $31.00 to $36.00 and gave the company an “overweight” rating in a report on Tuesday, April 19th. KeyCorp upped their price target on CenterPoint Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, April 20th. UBS Group upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $27.00 to $30.00 in a research report on Tuesday, February 15th. Finally, Morgan Stanley raised their price target on CenterPoint Energy from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $31.07.

CenterPoint Energy Profile (Get Rating)

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 assets in the wholesale power market.

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

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