Kentucky Retirement Systems Insurance Trust Fund Sells 1,657 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

by · The Markets Daily

Kentucky Retirement Systems Insurance Trust Fund reduced its holdings in CenterPoint Energy, Inc. (NYSE:CNP – Free Report) by 7.4% during the first quarter, Holdings Channel.com reports. The fund owned 20,831 shares of the utilities provider’s stock after selling 1,657 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in CenterPoint Energy were worth $593,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in CenterPoint Energy in the 1st quarter worth about $25,000. Global Retirement Partners LLC increased its stake in CenterPoint Energy by 163.7% in the 4th quarter. Global Retirement Partners LLC now owns 894 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 555 shares during the last quarter. FinTrust Capital Advisors LLC increased its stake in CenterPoint Energy by 60.3% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 452 shares during the last quarter. Tobam bought a new position in shares of CenterPoint Energy during the 1st quarter valued at about $35,000. Finally, ICA Group Wealth Management LLC bought a new position in shares of CenterPoint Energy during the 4th quarter valued at about $43,000. 91.77% of the stock is currently owned by institutional investors.

Insider Transactions at CenterPoint Energy

In other news, Director Barry T. Smitherman sold 5,670 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $29.42, for a total value of $166,811.40. Following the completion of the transaction, the director now owns 21,203 shares of the company’s stock, valued at approximately $623,792.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

CenterPoint Energy Trading Up 1.7 %

NYSE CNP traded up $0.48 on Friday, hitting $29.36. The company’s stock had a trading volume of 4,664,965 shares, compared to its average volume of 5,805,707. CenterPoint Energy, Inc. has a 52-week low of $25.42 and a 52-week high of $31.57. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The company’s 50-day simple moving average is $30.07 and its 200 day simple moving average is $28.87. The firm has a market cap of $18.78 billion, a P/E ratio of 20.68, a PEG ratio of 2.58 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP – Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. CenterPoint Energy had a return on equity of 10.57% and a net margin of 11.03%. The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the business posted $0.50 EPS. Research analysts predict that CenterPoint Energy, Inc. will post 1.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CNP has been the topic of several recent research reports. Scotiabank reduced their price objective on CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets reduced their price objective on CenterPoint Energy from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 23rd. StockNews.com lowered CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. KeyCorp reduced their price objective on CenterPoint Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, Morgan Stanley lowered CenterPoint Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $30.00 to $29.00 in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, CenterPoint Energy presently has a consensus rating of “Hold” and an average price target of $30.60.

View Our Latest Report on CenterPoint Energy

About CenterPoint Energy

(Free Report)

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.

See Also

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