Elo Mutual Pension Insurance Co increased its position in shares of CenterPoint Energy, Inc. (NYSE:CNP – Free Report) by 3.7% during the 1st quarter, HoldingsChannel reports. The fund owned 50,499 shares of the utilities provider’s stock after acquiring an additional 1,783 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in CenterPoint Energy were worth $1,488,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CNP. Private Advisor Group LLC purchased a new position in shares of CenterPoint Energy during the 1st quarter worth $440,000. Raymond James Trust N.A. raised its position in CenterPoint Energy by 59.0% in the 1st quarter. Raymond James Trust N.A. now owns 14,757 shares of the utilities provider’s stock valued at $452,000 after purchasing an additional 5,475 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of CenterPoint Energy by 28.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,585,045 shares of the utilities provider’s stock valued at $79,208,000 after buying an additional 572,884 shares during the period. Vontobel Holding Ltd. grew its position in shares of CenterPoint Energy by 9.0% during the first quarter. Vontobel Holding Ltd. now owns 32,098 shares of the utilities provider’s stock worth $988,000 after buying an additional 2,642 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in CenterPoint Energy by 59.3% in the first quarter. Sei Investments Co. now owns 738,270 shares of the utilities provider’s stock worth $22,615,000 after acquiring an additional 274,696 shares during the last quarter. 88.96% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently commented on CNP shares. JPMorgan Chase & Co. increased their target price on CenterPoint Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, August 17th. Morgan Stanley dropped their price target on shares of CenterPoint Energy from $30.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 23rd. Barclays initiated coverage on shares of CenterPoint Energy in a research report on Wednesday, August 23rd. They set an “underweight” rating and a $28.00 price objective for the company. Guggenheim boosted their price target on shares of CenterPoint Energy from $32.00 to $33.00 in a research report on Friday, July 7th. Finally, UBS Group downgraded CenterPoint Energy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $33.00 to $30.00 in a report on Tuesday, June 6th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.10.
Read Our Latest Research Report on CNP
CenterPoint Energy Stock Down 0.9 %
Shares of NYSE:CNP opened at $27.65 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.88 and a debt-to-equity ratio of 1.67. The company has a market cap of $17.45 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 2.52 and a beta of 0.88. CenterPoint Energy, Inc. has a fifty-two week low of $25.03 and a fifty-two week high of $33.50. The firm’s 50-day simple moving average is $29.21 and its 200-day simple moving average is $29.22.
CenterPoint Energy (NYSE:CNP – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. CenterPoint Energy had a return on equity of 9.71% and a net margin of 8.28%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. As a group, equities research analysts predict that CenterPoint Energy, Inc. will post 1.49 earnings per share for the current year.
CenterPoint Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 17th will be given a dividend of $0.19 per share. The ex-dividend date is Wednesday, August 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.75%. CenterPoint Energy’s payout ratio is 66.09%.
CenterPoint Energy Company Profile
(Free Report)
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. 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.
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