CenterPoint Energy, Inc. (NYSE:CNP) – Equities researchers at KeyCorp issued their FY2019 EPS estimates for shares of CenterPoint Energy in a note issued to investors on Tuesday, June 4th, Zacks Investment Research reports. KeyCorp analyst S. Karp forecasts that the utilities provider will post earnings of $1.66 per share for the year. KeyCorp currently has a “Sector Weight” rating on the stock. KeyCorp also issued estimates for CenterPoint Energy’s FY2020 earnings at $1.86 EPS and FY2021 earnings at $1.92 EPS.
A number of other brokerages have also issued reports on CNP. JPMorgan Chase & Co. lowered their price target on CenterPoint Energy from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 15th. Credit Suisse Group set a $33.00 target price on CenterPoint Energy and gave the company a “buy” rating in a research report on Monday, April 22nd. Morgan Stanley lifted their target price on CenterPoint Energy from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Friday, June 14th. Bank of America upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating and set a $29.32 target price on the stock in a research report on Thursday, June 13th. They noted that the move was a valuation call. Finally, Mizuho initiated coverage on CenterPoint Energy in a report on Monday, June 3rd. They issued a “buy” rating and a $31.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $31.86.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, May 9th. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.06). The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.84 billion. CenterPoint Energy had a net margin of 3.39% and a return on equity of 13.31%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.55 earnings per share.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 16th were paid a dividend of $0.2875 per share. The ex-dividend date was Wednesday, May 15th. This represents a $1.15 annualized dividend and a yield of 4.02%. CenterPoint Energy’s payout ratio is 71.88%.
In related news, CEO Scott M. Prochazka sold 7,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $30.90, for a total transaction of $216,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Milton Carroll sold 19,780 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $29.70, for a total value of $587,466.00. Following the transaction, the insider now directly owns 98,301 shares of the company’s stock, valued at $2,919,539.70. The disclosure for this sale can be found here. Insiders have sold a total of 52,780 shares of company stock valued at $1,573,746 over the last three months. 0.24% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Horizon Investments LLC acquired a new stake in shares of CenterPoint Energy in the 1st quarter valued at about $1,385,000. Nordea Investment Management AB boosted its position in shares of CenterPoint Energy by 28.6% in the 1st quarter. Nordea Investment Management AB now owns 25,284 shares of the utilities provider’s stock valued at $776,000 after purchasing an additional 5,628 shares during the period. Advisory Services Network LLC boosted its position in shares of CenterPoint Energy by 7.7% in the 1st quarter. Advisory Services Network LLC now owns 25,237 shares of the utilities provider’s stock valued at $775,000 after purchasing an additional 1,815 shares during the period. Rehmann Capital Advisory Group boosted its position in shares of CenterPoint Energy by 26.5% in the 1st quarter. Rehmann Capital Advisory Group now owns 2,760 shares of the utilities provider’s stock valued at $85,000 after purchasing an additional 578 shares during the period. Finally, Marshall Wace North America L.P. boosted its position in shares of CenterPoint Energy by 1,846.4% in the 1st quarter. Marshall Wace North America L.P. now owns 25,732 shares of the utilities provider’s stock valued at $790,000 after purchasing an additional 24,410 shares during the period. 78.23% of the stock is owned by institutional investors and hedge funds.
About CenterPoint Energy
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
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