CenterPoint Energy, Inc. (NYSE:CNP) Shares Sold by Edgemoor Investment Advisors Inc.

Edgemoor Investment Advisors Inc. reduced its position in CenterPoint Energy, Inc. (NYSE:CNP) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 200,591 shares of the utilities provider’s stock after selling 987 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in CenterPoint Energy were worth $6,214,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CNP. Crewe Advisors LLC purchased a new position in shares of CenterPoint Energy during the 1st quarter valued at $25,000. Olistico Wealth LLC acquired a new stake in CenterPoint Energy during the second quarter worth about $33,000. Rothschild Investment LLC bought a new stake in shares of CenterPoint Energy during the second quarter valued at approximately $33,000. FinTrust Capital Advisors LLC raised its stake in shares of CenterPoint Energy by 60.3% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock valued at $34,000 after buying an additional 452 shares in the last quarter. Finally, Tobam bought a new position in CenterPoint Energy during the first quarter worth about $35,000. 91.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CNP shares. JPMorgan Chase & Co. downgraded shares of CenterPoint Energy from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $32.00 to $29.00 in a research note on Friday, August 2nd. Morgan Stanley boosted their price objective on CenterPoint Energy from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. StockNews.com lowered CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Sunday, August 25th. Wells Fargo & Company cut CenterPoint Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $32.00 to $28.00 in a report on Tuesday, August 13th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $28.00 price objective on shares of CenterPoint Energy in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $29.40.

CenterPoint Energy Trading Down 0.5 %

Shares of NYSE:CNP traded down $0.15 during trading on Monday, hitting $27.13. 278,635 shares of the company’s stock were exchanged, compared to its average volume of 5,251,002. The company has a current ratio of 1.20, a quick ratio of 0.99 and a debt-to-equity ratio of 1.79. The firm has a market cap of $17.42 billion, a P/E ratio of 19.21, a PEG ratio of 2.41 and a beta of 0.92. The firm has a 50-day moving average price of $27.91 and a two-hundred day moving average price of $28.66. CenterPoint Energy, Inc. has a 1-year low of $25.41 and a 1-year high of $31.57.

CenterPoint Energy (NYSE:CNP) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. During the same quarter in the previous year, the business earned $0.28 EPS. Equities analysts predict that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current year.

CenterPoint Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.95%. CenterPoint Energy’s dividend payout ratio is 56.34%.

CenterPoint Energy Profile

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