Milford Funds Ltd. acquired a new stake in CenterPoint Energy, Inc. (NYSE:CNP – Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 204,816 shares of the utilities provider’s stock, valued at approximately $7,853,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New Age Alpha Advisors LLC purchased a new stake in CenterPoint Energy during the 4th quarter valued at $25,000. Rothschild Investment LLC raised its stake in CenterPoint Energy by 165.0% during the 4th quarter. Rothschild Investment LLC now owns 734 shares of the utilities provider’s stock valued at $28,000 after buying an additional 457 shares during the last quarter. Olistico Wealth LLC purchased a new stake in CenterPoint Energy during the 4th quarter valued at $41,000. University of Illinois Foundation purchased a new stake in CenterPoint Energy during the 3rd quarter valued at $46,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in CenterPoint Energy by 66.7% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,250 shares of the utilities provider’s stock valued at $48,000 after buying an additional 500 shares during the last quarter. 91.77% of the stock is owned by institutional investors.
CenterPoint Energy Trading Up 0.7%
NYSE:CNP opened at $42.85 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.16 and a quick ratio of 1.04. The firm has a market capitalization of $28.03 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 2.52 and a beta of 0.46. CenterPoint Energy, Inc. has a one year low of $35.46 and a one year high of $44.47. The business has a fifty day moving average price of $42.66 and a 200-day moving average price of $41.20.
CenterPoint Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 21st were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, May 21st. CenterPoint Energy’s dividend payout ratio is 56.44%.
Wall Street Analysts Forecast Growth
CNP has been the subject of a number of research reports. Evercore set a $45.00 target price on shares of CenterPoint Energy in a research note on Monday, May 4th. 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. JPMorgan Chase & Co. decreased their target price on shares of CenterPoint Energy from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Wells Fargo & Company reiterated an “overweight” rating and set a $48.00 target price on shares of CenterPoint Energy in a research note on Tuesday, April 21st. Finally, Barclays boosted their target price on shares of CenterPoint Energy from $38.00 to $44.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Eight analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $44.62.
View 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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