Trading Report: The Kentucky Retirement Systems Insurance Trust Fund Buys New Position in CenterPoint Energy Inc. (CNP)

The Kentucky Retirement Systems Insurance Trust Fund Buys New Position in CenterPoint Energy Inc. (CNP)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of CenterPoint Energy Inc. (NYSE:CNP) during the second quarter, Holdings Channel reports. The firm bought 17,387 shares of the company’s stock, valued at approximately $417,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisory Services Network LLC raised its position in shares of CenterPoint Energy by 228.5% in the second quarter. Advisory Services Network LLC now owns 5,145 shares of the company’s stock worth $123,000 after buying an additional 3,579 shares during the period. Washington Trust Bank raised its position in shares of CenterPoint Energy by 133.7% in the second quarter. Washington Trust Bank now owns 5,384 shares of the company’s stock worth $129,000 after buying an additional 3,080 shares during the period. Assetmark Inc. acquired a new position in shares of CenterPoint Energy during the second quarter worth about $133,000. Pacer Advisors Inc. raised its position in shares of CenterPoint Energy by 10.4% in the second quarter. Pacer Advisors Inc. now owns 7,293 shares of the company’s stock worth $175,000 after buying an additional 685 shares during the period. Finally, IFC Holdings Incorporated FL acquired a new position in shares of CenterPoint Energy during the second quarter worth about $209,000. Hedge funds and other institutional investors own 79.06% of the company’s stock.

CenterPoint Energy Inc. (NYSE:CNP) traded up 1.44% during trading on Friday, reaching $23.95. The company’s stock had a trading volume of 1,219,436 shares. The company’s 50-day moving average is $22.82 and its 200-day moving average is $23.03. CenterPoint Energy Inc. has a 1-year low of $16.05 and a 1-year high of $24.71. The company’s market capitalization is $10.31 billion.

CenterPoint Energy (NYSE:CNP) last posted its earnings results on Friday, November 4th. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.04. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.98 billion. CenterPoint Energy had a positive return on equity of 15.00% and a negative net margin of 2.46%. CenterPoint Energy’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share. Equities analysts anticipate that CenterPoint Energy Inc. will post $1.19 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Wednesday, November 16th will be given a dividend of $0.2575 per share. The ex-dividend date is Monday, November 14th. This represents a $1.03 dividend on an annualized basis and a yield of 4.30%. CenterPoint Energy’s payout ratio is -245.24%.

A number of research analysts have recently issued reports on the company. Guggenheim assumed coverage on CenterPoint Energy in a research report on Thursday, November 3rd. They set a “buy” rating and a $25.00 target price on the stock. RBC Capital Markets set a $26.00 price objective on CenterPoint Energy and gave the company a “buy” rating in a report on Monday, August 8th. SunTrust Banks Inc. restated a “hold” rating and issued a $24.00 price objective on shares of CenterPoint Energy in a report on Tuesday, August 2nd. Deutsche Bank AG decreased their price objective on CenterPoint Energy from $24.50 to $24.00 and set a “hold” rating on the stock in a report on Monday, August 8th. Finally, Credit Suisse Group AG lowered CenterPoint Energy from a “neutral” rating to an “underperform” rating and raised their price objective for the company from $24.00 to $25.00 in a report on Tuesday, November 8th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $23.02.

About CenterPoint Energy

CenterPoint Energy, Inc is a public utility holding company. The Company’s segments include Electric Transmission & Distribution, Natural Gas Distribution, Energy Services, Midstream Investments and Other Operations. Its Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.

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