Advisors Asset Management Lowers stake in CenterPoint Energy (CNP)

CenterPoint Energy (CNP) : Advisors Asset Management reduced its stake in CenterPoint Energy by 7.83% during the most recent quarter end. The investment management company now holds a total of 1,411,699 shares of CenterPoint Energy which is valued at $32,045,567 after selling 119,934 shares in CenterPoint Energy , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.CenterPoint Energy makes up approximately 0.50% of Advisors Asset Management’s portfolio.

Other Hedge Funds, Including , Norinchukin Bank The boosted its stake in CNP in the latest quarter, The investment management firm added 507 additional shares and now holds a total of 22,588 shares of CenterPoint Energy which is valued at $512,748. CenterPoint Energy makes up approx 0.01% of Norinchukin Bank The’s portfolio.Conning boosted its stake in CNP in the latest quarter, The investment management firm added 340 additional shares and now holds a total of 10,332 shares of CenterPoint Energy which is valued at $246,935. CenterPoint Energy makes up approx 0.01% of Conning’s portfolio.Murphy Capital Management Inc boosted its stake in CNP in the latest quarter, The investment management firm added 1,767 additional shares and now holds a total of 162,089 shares of CenterPoint Energy which is valued at $3,909,587. CenterPoint Energy makes up approx 0.59% of Murphy Capital Management Inc’s portfolio.Nisa Investment Advisors boosted its stake in CNP in the latest quarter, The investment management firm added 133,257 additional shares and now holds a total of 414,257 shares of CenterPoint Energy which is valued at $9,921,455. CenterPoint Energy makes up approx 0.13% of Nisa Investment Advisors’s portfolio.

CenterPoint Energy closed down -0.12 points or -0.53% at $22.45 with 54,62,300 shares getting traded on Monday. Post opening the session at $22.62, the shares hit an intraday low of $22.425 and an intraday high of $22.74 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, CenterPoint Energy reported $0.17 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Aug 5, 2016. Analyst had a consensus of $0.20. The company had revenue of $1574.00 million for the quarter, compared to analysts expectations of $1632.42 million. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.

Many Wall Street Analysts have commented on CenterPoint Energy. CenterPoint Energy was Downgraded by Tudor Pickering to ” Hold” on Jul 5, 2016. CenterPoint Energy was Downgraded by Wells Fargo to ” Market Perform” on Jun 22, 2016.

CenterPoint Energy Inc. is a public utility holding company. The company’s segments include: Electric Transmission & Distribution Natural Gas Distribution Energy Services Midstream Investments and Other Operations. Electric Transmission & Distribution provides electric transmission and distribution services to retail electric providers. Natural Gas Distribution offers intrastate natural gas sales to and natural gas transportation and distribution for residential commercial industrial and institutional customers. Energy Services includes non-rate regulated gas sales and services operations. Midstream Investments segment includes equity earnings associated with the operations of Enable Midstream Partners LP and a 0.1% interest in Southeast Supply Header LLC owned by CenterPoint Energy Resources Corp. Other Operations includes office buildings and other real estate used in its business operations and other corporate operations which support all of its business operations.

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