Wealthfront Advisers LLC increased its position in shares of CenterPoint Energy, Inc. (NYSE:CNP – Free Report) by 27.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193,710 shares of the utilities provider’s stock after purchasing an additional 41,944 shares during the period. Wealthfront Advisers LLC’s holdings in CenterPoint Energy were worth $8,361,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in CNP. Vanguard Group Inc. grew its holdings in CenterPoint Energy by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 82,381,128 shares of the utilities provider’s stock valued at $3,158,492,000 after buying an additional 719,803 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of CenterPoint Energy by 13.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 58,286,690 shares of the utilities provider’s stock worth $2,234,712,000 after buying an additional 6,794,535 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of CenterPoint Energy by 1.1% during the fourth quarter. Capital Research Global Investors now owns 20,941,909 shares of the utilities provider’s stock worth $802,916,000 after buying an additional 235,346 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of CenterPoint Energy by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 17,023,720 shares of the utilities provider’s stock valued at $650,189,000 after acquiring an additional 166,305 shares during the period. Finally, Norges Bank bought a new stake in shares of CenterPoint Energy in the fourth quarter valued at about $343,925,000. 91.77% of the stock is currently owned by institutional investors.
CenterPoint Energy Stock Performance
CNP opened at $43.13 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.04 and a current ratio of 1.16. CenterPoint Energy, Inc. has a 52-week low of $36.59 and a 52-week high of $45.22. The firm has a market cap of $28.22 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 2.57 and a beta of 0.46. The business’s fifty day moving average is $43.01 and its 200-day moving average is $42.12.
CenterPoint Energy Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.96 annualized dividend and a yield of 2.2%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.23. CenterPoint Energy’s payout ratio is 56.44%.
Wall Street Analysts Forecast Growth
CNP has been the topic of a number of recent research reports. Wells Fargo & Company reaffirmed an “overweight” rating and set a $48.00 price target on shares of CenterPoint Energy in a research report on Tuesday, April 21st. Wall Street Zen downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Barclays boosted their price objective on shares of CenterPoint Energy from $38.00 to $44.00 and gave the company an “equal weight” rating in a report on Wednesday, April 15th. Jefferies Financial Group set a $50.00 target price on shares of CenterPoint Energy in a report on Thursday, June 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of CenterPoint Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $45.31.
Read Our Latest Analysis on CNP
About CenterPoint Energy
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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