Vaughan David Investments LLC IL bought a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP – Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 710,683 shares of the utilities provider’s stock, valued at approximately $27,248,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zacks Investment Management raised its holdings in CenterPoint Energy by 0.8% in the 3rd quarter. Zacks Investment Management now owns 31,142 shares of the utilities provider’s stock worth $1,208,000 after acquiring an additional 256 shares during the last quarter. Salomon & Ludwin LLC raised its holdings in CenterPoint Energy by 16.1% in the 4th quarter. Salomon & Ludwin LLC now owns 2,226 shares of the utilities provider’s stock worth $85,000 after acquiring an additional 308 shares during the last quarter. Horizon Investments LLC raised its holdings in CenterPoint Energy by 3.2% in the 4th quarter. Horizon Investments LLC now owns 10,483 shares of the utilities provider’s stock worth $402,000 after acquiring an additional 326 shares during the last quarter. Parallel Advisors LLC raised its holdings in CenterPoint Energy by 6.7% in the 3rd quarter. Parallel Advisors LLC now owns 5,315 shares of the utilities provider’s stock worth $206,000 after acquiring an additional 333 shares during the last quarter. Finally, Brooklyn Investment Group raised its holdings in CenterPoint Energy by 7.6% in the 3rd quarter. Brooklyn Investment Group now owns 5,245 shares of the utilities provider’s stock worth $203,000 after acquiring an additional 369 shares during the last quarter. 91.77% of the stock is owned by institutional investors and hedge funds.
CenterPoint Energy Stock Down 0.3%
CNP opened at $42.62 on Friday. The firm has a 50-day simple moving average of $42.67 and a two-hundred day simple moving average of $41.19. CenterPoint Energy, Inc. has a 52 week low of $35.46 and a 52 week high of $44.47. The company has a market capitalization of $27.88 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 2.53 and a beta of 0.46. The company has a quick ratio of 1.04, a current ratio of 1.16 and a debt-to-equity ratio of 1.96.
CenterPoint Energy Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 21st were issued a $0.23 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.2%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 56.44%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. KeyCorp boosted their target price on shares of CenterPoint Energy from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Evercore set a $45.00 target price on shares of CenterPoint Energy in a research note on Monday, May 4th. Wells Fargo & Company restated an “overweight” rating and issued a $48.00 price objective on shares of CenterPoint Energy in a research note on Tuesday, April 21st. Barclays upped their price objective on CenterPoint Energy from $38.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 15th. Finally, Mizuho set a $44.00 price objective on CenterPoint Energy in a research note on Monday, February 23rd. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $44.62.
Get Our Latest Research Report on CNP
CenterPoint Energy Company Profile
CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.
CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.
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