Shulman DeMeo Asset Management LLC increased its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 4.9% in the first quarter, HoldingsChannel.com reports. The firm owned 8,788 shares of the utilities provider’s stock after acquiring an additional 407 shares during the quarter. Shulman DeMeo Asset Management LLC’s holdings in CenterPoint Energy were worth $270,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Financial Architects Inc acquired a new position in shares of CenterPoint Energy in the 4th quarter valued at $28,000. PRW Wealth Management LLC bought a new stake in CenterPoint Energy in the fourth quarter worth $29,000. Flagship Harbor Advisors LLC lifted its position in CenterPoint Energy by 174.6% in the first quarter. Flagship Harbor Advisors LLC now owns 950 shares of the utilities provider’s stock worth $29,000 after buying an additional 604 shares during the last quarter. Claybrook Capital LLC bought a new stake in CenterPoint Energy in the fourth quarter worth $31,000. Finally, Sound Income Strategies LLC lifted its position in CenterPoint Energy by 793.7% in the fourth quarter. Sound Income Strategies LLC now owns 1,126 shares of the utilities provider’s stock worth $32,000 after buying an additional 1,000 shares during the last quarter. 81.44% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Joseph John Vortherms sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $30.10, for a total value of $60,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Milton Carroll sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $30.21, for a total transaction of $2,265,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 128,000 shares of company stock valued at $3,860,730. Company insiders own 0.24% of the company’s stock.
CenterPoint Energy (NYSE:CNP) last announced its earnings results on Thursday, February 28th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. CenterPoint Energy had a net margin of 3.48% and a return on equity of 14.16%. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the business posted $0.33 earnings per share. On average, equities analysts forecast that CenterPoint Energy, Inc. will post 1.64 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th will be issued a $0.2875 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.71%. CenterPoint Energy’s payout ratio is 71.88%.
A number of research firms have recently issued reports on CNP. Guggenheim upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. Zacks Investment Research upgraded shares of CenterPoint Energy from a “hold” rating to a “strong-buy” rating and set a $33.00 target price for the company in a research note on Tuesday, January 8th. Royal Bank of Canada upgraded shares of CenterPoint Energy from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $29.00 to $34.00 in a research note on Friday, January 18th. ValuEngine upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, Goldman Sachs Group assumed coverage on shares of CenterPoint Energy in a research note on Monday, February 25th. They issued a “buy” rating and a $34.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $32.44.
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CenterPoint Energy Company Profile
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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