TD Asset Management Inc Cuts Stock Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Key Points

• TD Asset Management Inc reduced its stake in CenterPoint Energy by 1.3%, selling 7,456 shares and maintaining 568,047 shares valued at approximately $20.58 million.
• CenterPoint Energy reported earnings per share (EPS) of $0.29 for the last quarter, missing estimates by $0.15, with revenue of $1.94 billion compared to analyst expectations of $2.20 billion.
• The company announced a quarterly dividend of $0.22 per share, with an annual yield of 2.30%, set to be paid on September 11th.

TD Asset Management Inc lessened its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 568,047 shares of the utilities provider's stock after selling 7,456 shares during the quarter. TD Asset Management Inc owned approximately 0.09% of CenterPoint Energy worth $20,580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Trust Co. NA raised its stake in shares of CenterPoint Energy by 21.5% during the 1st quarter. Private Trust Co. NA now owns 1,653 shares of the utilities provider's stock valued at $60,000 after buying an additional 293 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of CenterPoint Energy by 17.8% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,014 shares of the utilities provider's stock valued at $73,000 after buying an additional 304 shares during the last quarter. Fulton Bank N.A. raised its stake in shares of CenterPoint Energy by 2.7% during the 1st quarter. Fulton Bank N.A. now owns 13,718 shares of the utilities provider's stock valued at $497,000 after buying an additional 362 shares during the last quarter. Colonial Trust Co SC raised its stake in shares of CenterPoint Energy by 9.2% during the 4th quarter. Colonial Trust Co SC now owns 4,601 shares of the utilities provider's stock valued at $146,000 after buying an additional 388 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of CenterPoint Energy by 8.2% in the 4th quarter. Quadrant Capital Group LLC now owns 5,167 shares of the utilities provider's stock valued at $164,000 after purchasing an additional 390 shares in the last quarter. Institutional investors own 91.77% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CNP. Wall Street Zen lowered CenterPoint Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Mizuho set a $39.00 price target on CenterPoint Energy and gave the company a "neutral" rating in a research note on Friday, July 25th. Scotiabank lifted their price target 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. JPMorgan Chase & Co. lifted their price target on CenterPoint Energy from $39.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley lowered their price objective on CenterPoint Energy from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $37.38.

CenterPoint Energy Trading Down 0.0%

CNP traded down $0.01 during trading hours on Friday, reaching $38.81. The company's stock had a trading volume of 5,174,226 shares, compared to its average volume of 5,380,049. CenterPoint Energy, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $39.31. The stock has a market cap of $25.34 billion, a PE ratio of 27.14, a P/E/G ratio of 2.82 and a beta of 0.57. The business's 50-day moving average is $36.72 and its 200-day moving average is $35.76. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.79 and a quick ratio of 0.61.

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

CenterPoint Energy Dividend Announcement

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

CenterPoint Energy 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.