Healthcare of Ontario Pension Plan Trust Fund raised its stake in CenterPoint Energy, Inc. (NYSE:CNP – Free Report) by 58.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,021 shares of the utilities provider’s stock after acquiring an additional 15,212 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in CenterPoint Energy were worth $1,770,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. New Age Alpha Advisors LLC acquired a new stake in shares of CenterPoint Energy during the 4th quarter worth $25,000. Caitong International Asset Management Co. Ltd raised its stake in CenterPoint Energy by 49.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 235 shares in the last quarter. Rothschild Investment LLC lifted its position in 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 purchasing an additional 457 shares during the period. DV Equities LLC bought a new stake in CenterPoint Energy during the fourth quarter worth about $35,000. Finally, Rexford Capital Inc. acquired a new stake in CenterPoint Energy during the first quarter worth about $39,000. 91.77% of the stock is currently owned by institutional investors.
CenterPoint Energy Stock Performance
CenterPoint Energy stock opened at $42.15 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.12 and a debt-to-equity ratio of 1.95. The stock has a market cap of $27.76 billion, a PE ratio of 24.79, a P/E/G ratio of 2.50 and a beta of 0.46. CenterPoint Energy, Inc. has a 12-month low of $36.60 and a 12-month high of $45.26. The business’s 50-day moving average price is $43.23 and its two-hundred day moving average price is $42.47.
CenterPoint Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 20th. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.23. CenterPoint Energy’s payout ratio is currently 54.12%.
Wall Street Analyst Weigh In
Several equities analysts have commented on CNP shares. KeyCorp decreased their target price on shares of CenterPoint Energy from $47.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Morgan Stanley set a $40.00 price target on shares of CenterPoint Energy in a report on Wednesday, July 22nd. Wells Fargo & Company reiterated an “overweight” rating and set a $48.00 price target on shares of CenterPoint Energy in a research report on Tuesday, April 21st. Weiss Ratings reissued a “buy (b)” rating on shares of CenterPoint Energy in a research note on Monday, June 15th. Finally, Wolfe Research restated an “outperform” rating and set a $49.00 price objective on shares of CenterPoint Energy in a research report on Wednesday. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $45.64.
Get Our Latest Research Report 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.
Further Reading
- Five stocks we like better than CenterPoint Energy
- Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector
- Amazon’s Earnings Beat Shows Why AWS Is Back at the Center of the Bull Case
- Apple’s Record Quarter Could Not Outrun Its Guidance Problem
- McKesson’s Compounding Keeps Adding Up
Want to see what other hedge funds are holding CNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CenterPoint Energy, Inc. (NYSE:CNP – Free Report).
Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.
