Palisade Asset Management LLC decreased its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP – Free Report) by 25.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,340 shares of the utilities provider’s stock after selling 17,497 shares during the period. Palisade Asset Management LLC’s holdings in CenterPoint Energy were worth $1,930,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in CNP. New Age Alpha Advisors LLC acquired a new stake in shares of CenterPoint Energy during the fourth quarter worth about $25,000. Rothschild Investment LLC boosted its stake in shares of CenterPoint Energy by 165.0% during the fourth quarter. Rothschild Investment LLC now owns 734 shares of the utilities provider’s stock worth $28,000 after buying an additional 457 shares during the period. Olistico Wealth LLC acquired a new stake in shares of CenterPoint Energy during the fourth quarter worth about $41,000. University of Illinois Foundation acquired a new stake in shares of CenterPoint Energy during the third quarter worth about $46,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in shares of CenterPoint Energy by 66.7% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,250 shares of the utilities provider’s stock worth $48,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 91.77% of the company’s stock.
CenterPoint Energy Trading Down 0.1%
Shares of CenterPoint Energy stock opened at $42.85 on Monday. CenterPoint Energy, Inc. has a 12-month low of $35.46 and a 12-month high of $44.47. The company has a current ratio of 1.16, a quick ratio of 1.04 and a debt-to-equity ratio of 1.96. The stock has a market cap of $28.03 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 2.54 and a beta of 0.46. The company has a 50-day moving average of $42.66 and a two-hundred day moving average of $41.21.
CenterPoint Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, May 21st. CenterPoint Energy’s dividend payout ratio (DPR) is 56.44%.
Wall Street Analyst Weigh In
CNP has been the subject of a number of recent analyst reports. Mizuho set a $44.00 price objective on shares of CenterPoint Energy in a research report on Monday, February 23rd. Truist Financial reduced their price objective on shares of CenterPoint Energy from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Jefferies Financial Group raised their price objective on shares of CenterPoint Energy from $44.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Evercore set a $45.00 price objective on shares of CenterPoint Energy in a research report on Monday, May 4th. Finally, Barclays raised their price objective on shares of CenterPoint Energy from $38.00 to $44.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 15th. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $44.62.
Get Our Latest Stock Analysis on CenterPoint Energy
CenterPoint Energy 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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