CenterPoint Energy, Inc. $CNP Shares Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 1.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 88,547 shares of the utilities provider’s stock after acquiring an additional 1,603 shares during the period. New York Life Investment Management LLC’s holdings in CenterPoint Energy were worth $3,253,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CNP. N.E.W. Advisory Services LLC acquired a new stake in shares of CenterPoint Energy during the first quarter worth $25,000. ST Germain D J Co. Inc. acquired a new stake in shares of CenterPoint Energy during the second quarter worth $26,000. Chung Wu Investment Group LLC acquired a new position in CenterPoint Energy during the second quarter worth approximately $29,000. Ameritas Advisory Services LLC acquired a new position in CenterPoint Energy during the second quarter worth approximately $33,000. Finally, Motco increased its position in CenterPoint Energy by 107.8% during the first quarter. Motco now owns 1,039 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 539 shares during the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.

CenterPoint Energy Trading Down 0.1%

NYSE CNP opened at $38.90 on Friday. The company has a market capitalization of $25.40 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 2.79 and a beta of 0.57. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.51 and a quick ratio of 0.38. CenterPoint Energy, Inc. has a 12 month low of $28.57 and a 12 month high of $40.50. The company’s fifty day moving average price is $38.63 and its two-hundred day moving average price is $37.76.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Thursday, October 23rd. The utilities provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.04 billion. CenterPoint Energy had a net margin of 11.37% and a return on equity of 10.25%. During the same period last year, the business earned $0.31 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 20th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, November 20th. CenterPoint Energy’s payout ratio is currently 55.70%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CNP. Wells Fargo & Company started coverage on shares of CenterPoint Energy in a research report on Monday. They set an “overweight” rating and a $44.00 price target for the company. Morgan Stanley raised their price objective on CenterPoint Energy from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Wall Street Zen raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. BMO Capital Markets upped their target price on shares of CenterPoint Energy from $39.00 to $41.00 and gave the company a “market perform” rating in a research note on Thursday, October 2nd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of CenterPoint Energy in a research note on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, CenterPoint Energy currently has an average rating of “Hold” and an average price target of $41.50.

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.