CenterPoint Energy, Inc. $CNP Stock Position Reduced by Voya Investment Management LLC
by Doug Wharley · The Cerbat GemVoya Investment Management LLC trimmed its position in CenterPoint Energy, Inc. (NYSE:CNP – Free Report) by 14.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 360,191 shares of the utilities provider’s stock after selling 59,026 shares during the quarter. Voya Investment Management LLC owned approximately 0.06% of CenterPoint Energy worth $13,975,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in CNP. Brighton Jones LLC acquired a new stake in CenterPoint Energy during the fourth quarter worth about $254,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of CenterPoint Energy by 0.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,408,135 shares of the utilities provider’s stock worth $195,938,000 after purchasing an additional 42,536 shares during the last quarter. 1832 Asset Management L.P. boosted its position in CenterPoint Energy by 1.0% during the 1st quarter. 1832 Asset Management L.P. now owns 49,591 shares of the utilities provider’s stock valued at $1,797,000 after purchasing an additional 509 shares during the period. Allstate Corp boosted its position in CenterPoint Energy by 8.3% during the 1st quarter. Allstate Corp now owns 21,031 shares of the utilities provider’s stock valued at $762,000 after purchasing an additional 1,609 shares during the period. Finally, SVB Wealth LLC bought a new position in CenterPoint Energy during the 1st quarter worth $105,000. 91.77% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on CNP shares. Scotiabank boosted their price target on shares of CenterPoint Energy from $42.00 to $45.00 and gave the company a “sector outperform” rating in a report on Friday, October 24th. Barclays lifted their price objective on shares of CenterPoint Energy from $40.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Evercore ISI started coverage on shares of CenterPoint Energy in a research report on Monday, October 6th. They issued an “in-line” rating and a $42.00 target price for the company. Wall Street Zen raised CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, UBS Group decreased their price objective on CenterPoint Energy from $45.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, December 17th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $41.64.
Get Our Latest Stock Analysis on CNP
CenterPoint Energy Price Performance
NYSE CNP opened at $37.82 on Tuesday. CenterPoint Energy, Inc. has a 12 month low of $30.59 and a 12 month high of $40.50. The firm has a market capitalization of $24.69 billion, a PE ratio of 23.93, a P/E/G ratio of 2.40 and a beta of 0.56. The company’s 50 day simple moving average is $39.07 and its 200 day simple moving average is $38.10. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.51 and a quick ratio of 0.38.
CenterPoint Energy (NYSE:CNP – Get Free Report) last issued its quarterly earnings results on Thursday, October 23rd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. CenterPoint Energy had a return on equity of 10.25% and a net margin of 11.37%.The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the company posted $0.31 EPS. As a group, equities research analysts forecast that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.
CenterPoint Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 19th will be given a dividend of $0.23 per share. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, February 19th. This represents a $0.92 annualized dividend and a dividend yield of 2.4%. CenterPoint Energy’s payout ratio is 55.70%.
Insider Activity
In related news, Director Phillip R. Smith sold 6,200 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $38.83, for a total value of $240,746.00. Following the sale, the director directly owned 65,577 shares in the company, valued at $2,546,354.91. The trade was a 8.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by corporate insiders.
About CenterPoint Energy
CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.
CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.
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