CenterPoint Energy, Inc. (NYSE:CNP) Shares Sold by Inspire Investing LLC

Inspire Investing LLC trimmed its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 17.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,372 shares of the utilities provider’s stock after selling 15,249 shares during the quarter. Inspire Investing LLC’s holdings in CenterPoint Energy were worth $2,180,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds 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 approximately $25,000. Rothschild Investment LLC bought a new position in CenterPoint Energy in the 2nd quarter worth approximately $33,000. Olistico Wealth LLC bought a new position in CenterPoint Energy in the 2nd quarter worth approximately $33,000. FinTrust Capital Advisors LLC grew its holdings 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 buying an additional 452 shares in the last quarter. Finally, Tobam bought a new position in CenterPoint Energy in the 1st quarter worth approximately $35,000. 91.77% of the stock is owned by institutional investors.

CenterPoint Energy Price Performance

Shares of NYSE:CNP opened at $28.21 on Thursday. 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 $18.05 billion, a price-to-earnings ratio of 19.87, a P/E/G ratio of 2.46 and a beta of 0.92. CenterPoint Energy, Inc. has a 1 year low of $25.41 and a 1 year high of $31.57. The business has a fifty day simple moving average of $27.56 and a 200 day simple moving average of $28.68.

CenterPoint Energy (NYSE:CNP) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.88 billion. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. During the same period in the prior year, the business posted $0.28 earnings per share. As a group, sell-side analysts predict that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current fiscal year.

CenterPoint Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.84%. The ex-dividend date was Thursday, August 15th. CenterPoint Energy’s payout ratio is 56.34%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lowered CenterPoint Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $32.00 to $28.00 in a report on Tuesday, August 13th. Scotiabank decreased their price target on CenterPoint Energy from $29.00 to $28.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 20th. Morgan Stanley increased their price target on CenterPoint Energy from $29.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. StockNews.com raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $28.00 price target on shares of CenterPoint Energy in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $29.36.

CenterPoint Energy Company 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.