Trade Report: The BlackRock Advisors LLC invests in CenterPoint Energy Inc. (CNP) Shares

The BlackRock Advisors LLC invests in CenterPoint Energy Inc. (CNP) Shares

BlackRock Advisors LLC boosted its stake in CenterPoint Energy Inc. (NYSE:CNP) by 8.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 447,130 shares of the company’s stock after buying an additional 34,807 shares during the period. BlackRock Advisors LLC owned about 0.10% of CenterPoint Energy worth $10,731,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Hanlon Investment Management Inc. raised its stake in shares of CenterPoint Energy by 12.6% in the first quarter. Hanlon Investment Management Inc. now owns 474,809 shares of the company’s stock valued at $9,933,000 after buying an additional 53,223 shares during the last quarter. Credit Agricole S A raised its stake in shares of CenterPoint Energy by 76.7% in the first quarter. Credit Agricole S A now owns 158,397 shares of the company’s stock valued at $3,313,000 after buying an additional 68,778 shares during the last quarter. Carnick & Kubik LLC raised its stake in shares of CenterPoint Energy by 1.6% in the first quarter. Carnick & Kubik LLC now owns 28,090 shares of the company’s stock valued at $588,000 after buying an additional 440 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of CenterPoint Energy during the first quarter valued at approximately $430,000. Finally, Bessemer Group Inc. raised its stake in shares of CenterPoint Energy by 24.0% in the first quarter. Bessemer Group Inc. now owns 37,606 shares of the company’s stock valued at $787,000 after buying an additional 7,280 shares during the last quarter. 77.05% of the stock is owned by institutional investors.

Shares of CenterPoint Energy Inc. (NYSE:CNP) opened at 21.90 on Friday. CenterPoint Energy Inc. has a 52-week low of $16.05 and a 52-week high of $24.71. The stock’s market capitalization is $9.43 billion. The company has a 50 day moving average price of $23.00 and a 200-day moving average price of $22.60.

CenterPoint Energy (NYSE:CNP) last released its earnings results on Friday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by $0.03. CenterPoint Energy had a negative net margin of 10.72% and a positive return on equity of 13.48%. The firm earned $1.57 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the company earned $0.19 earnings per share. CenterPoint Energy’s revenue was up 2.7% on a year-over-year basis. On average, analysts predict that CenterPoint Energy Inc. will post $1.15 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Tuesday, August 16th were given a $0.2575 dividend. This represents a $1.03 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend was Friday, August 12th. CenterPoint Energy’s payout ratio is -59.20%.

Several analysts recently commented on the company. SunTrust Banks Inc. lifted their price objective on CenterPoint Energy from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, September 26th. Tudor Pickering lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Argus reaffirmed a “buy” rating and issued a $28.00 price objective (up previously from $26.00) on shares of CenterPoint Energy in a report on Friday, July 1st. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Finally, Wells Fargo & Co. downgraded CenterPoint Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 22nd. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $22.68.

CenterPoint Energy Company Profile

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