Gulf International Bank UK Ltd Trims Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in CenterPoint Energy by 25.2% during the first quarter, selling 12,464 shares to end up with 36,909 shares valued at approximately $1.34 million.
• Multiple institutional investors have altered their stakes in CenterPoint Energy, including Capital Research Global Investors, which increased its stake by 156.4% during the fourth quarter.
• CenterPoint Energy recently missed earnings estimates, reporting an EPS of $0.29 compared to a consensus estimate of $0.44, and announced a quarterly dividend of $0.22 per share to shareholders.

Gulf International Bank UK Ltd decreased its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 25.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,909 shares of the utilities provider's stock after selling 12,464 shares during the quarter. Gulf International Bank UK Ltd's holdings in CenterPoint Energy were worth $1,337,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNP. Capital Research Global Investors increased its stake in CenterPoint Energy by 156.4% during the fourth quarter. Capital Research Global Investors now owns 45,573,115 shares of the utilities provider's stock worth $1,446,036,000 after acquiring an additional 27,799,744 shares during the last quarter. BROOKFIELD Corp ON acquired a new stake in CenterPoint Energy during the fourth quarter worth $164,350,000. Nuveen LLC acquired a new stake in CenterPoint Energy during the first quarter worth $92,025,000. T. Rowe Price Investment Management Inc. increased its stake in CenterPoint Energy by 4.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 46,645,434 shares of the utilities provider's stock worth $1,480,060,000 after acquiring an additional 1,922,169 shares during the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new stake in CenterPoint Energy during the fourth quarter worth $59,702,000. Institutional investors and hedge funds own 91.77% of the company's stock.

Analysts Set New Price Targets

CNP has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on CenterPoint Energy from $39.00 to $40.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Scotiabank lifted their price objective on CenterPoint Energy from $40.00 to $42.00 and gave the company a "sector outperform" rating in a research note on Friday, July 25th. Mizuho set a $39.00 price objective on CenterPoint Energy and gave the company a "neutral" rating in a research note on Friday, July 25th. Evercore ISI lifted their price objective on CenterPoint Energy from $37.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Finally, BMO Capital Markets lifted their price objective on CenterPoint Energy from $36.00 to $39.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $37.38.

CenterPoint Energy Trading Down 1.0%

CNP opened at $38.05 on Friday. CenterPoint Energy, Inc. has a 12 month low of $25.65 and a 12 month high of $39.39. The stock has a market capitalization of $24.84 billion, a price-to-earnings ratio of 26.61, a PEG ratio of 2.81 and a beta of 0.58. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.79 and a quick ratio of 0.61. The business has a fifty day moving average price of $37.03 and a 200 day moving average price of $36.23.

CenterPoint Energy (NYSE:CNP - Get Free Report) last released its earnings results on Thursday, July 24th. The utilities provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.15). CenterPoint Energy had a return on equity of 9.16% and a net margin of 10.42%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the firm earned $0.36 earnings per share. Sell-side analysts expect that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

CenterPoint Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 21st. CenterPoint Energy's payout ratio is presently 61.54%.

About CenterPoint Energy

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.

Want to see what other hedge funds are holding CNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CenterPoint Energy, Inc. (NYSE:CNP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.