Sumitomo Mitsui Trust Group Inc. Sells 52,612 Shares of CenterPoint Energy, Inc. $CNP

Key Points

• Sumitomo Mitsui Trust Group reduced its CenterPoint Energy stake by 3.7%, selling 52,612 shares in the third quarter; it still held about 1.36 million shares, valued at roughly $50 million.
• CenterPoint reported quarterly earnings of $0.53 per share, beating the $0.50 analyst consensus, while revenue of $2.19 billion also topped estimates. The company declared a quarterly dividend of $0.24 per share, equivalent to a 2.3% yield.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $44.29; ten analysts rated the stock Buy and seven rated it Hold.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 3.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,358,663 shares of the utilities provider's stock after selling 52,612 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of CenterPoint Energy worth $49,999,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNP. Keating Financial Advisory Services Inc. bought a new stake in shares of CenterPoint Energy in the 2nd quarter worth about $27,000. MidFirst Bank bought a new position in CenterPoint Energy in the 2nd quarter valued at about $38,000. Transamerica Financial Advisors LLC bought a new position in CenterPoint Energy during the 2nd quarter valued at $40,000. Pin Oak Investment Advisors Inc. bought a new position in shares of CenterPoint Energy during the 2nd quarter valued at about $44,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of CenterPoint Energy during the second quarter valued at $54,000. Hedge funds and other institutional investors own 91.77% of the company's stock.

CenterPoint Energy Price Performance

Shares of CenterPoint Energy stock opened at $41.04 on Thursday. The stock has a market capitalization of $27.20 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 2.81 and a beta of 0.43. The company has a fifty day moving average of $39.33 and a 200-day moving average of $41.58. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.97 and a current ratio of 1.15. CenterPoint Energy, Inc. has a 52-week low of $36.37 and a 52-week high of $45.26.

CenterPoint Energy (NYSE:CNP - Get Free Report) last posted its earnings results on Tuesday, October 27th. The utilities provider reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.03. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.17 billion. CenterPoint Energy had a net margin of 11.76% and a return on equity of 11.16%. During the same quarter in the previous year, the firm posted $0.50 EPS. Equities research analysts expect that CenterPoint Energy, Inc. will post 1.91 EPS for the current year.

CenterPoint Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, November 19th. CenterPoint Energy's dividend payout ratio (DPR) is 54.86%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. TD Cowen initiated coverage on CenterPoint Energy in a report on Thursday, October 22nd. They set a "buy" rating and a $47.00 price objective on the stock. KeyCorp cut their price objective on CenterPoint Energy from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Tuesday, October 13th. Wall Street Zen upgraded CenterPoint Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Citigroup decreased their price objective on CenterPoint Energy from $47.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, October 8th. Finally, HSBC initiated coverage on CenterPoint Energy in a research note on Thursday, October 22nd. They set a "buy" rating and a $44.00 target price for the company. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $44.29.

About CenterPoint Energy

CenterPoint Energy, Inc is a public utility holding company that provides electric and natural gas energy services in the United States. Its operations include electric transmission and distribution, natural gas distribution, and related infrastructure services for residential, commercial, and industrial customers.

The company is the primary electric delivery utility for the Houston, Texas, area and operates electric and natural gas businesses in several states, including Texas, Indiana, Ohio, Louisiana, and Mississippi.

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