Sanctuary Advisors LLC purchased a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 45,996 shares of the utilities provider’s stock, valued at approximately $2,026,000.
A number of other hedge funds also recently bought and sold shares of CNP. Capital Research Global Investors grew its position in CenterPoint Energy by 1.1% in the 4th quarter. Capital Research Global Investors now owns 20,941,909 shares of the utilities provider’s stock valued at $802,916,000 after buying an additional 235,346 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co acquired a new stake in CenterPoint Energy in the fourth quarter valued at $3,834,000. Principal Financial Group Inc. boosted its position in shares of CenterPoint Energy by 6.9% during the 4th quarter. Principal Financial Group Inc. now owns 962,624 shares of the utilities provider’s stock worth $36,907,000 after purchasing an additional 61,740 shares in the last quarter. Artemis Investment Management LLP grew its stake in shares of CenterPoint Energy by 96.0% during the 4th quarter. Artemis Investment Management LLP now owns 1,595,867 shares of the utilities provider’s stock worth $61,186,000 after purchasing an additional 781,849 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of CenterPoint Energy by 5.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,367,838 shares of the utilities provider’s stock worth $52,976,000 after purchasing an additional 67,037 shares during the period. Institutional investors and hedge funds own 91.77% of the company’s stock.
CenterPoint Energy Stock Performance
NYSE:CNP opened at $39.63 on Thursday. The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 1.95. The company has a market capitalization of $26.11 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of 2.31 and a beta of 0.46. The firm has a 50-day moving average price of $42.46 and a two-hundred day moving average price of $42.61. CenterPoint Energy, Inc. has a twelve month low of $36.60 and a twelve month high of $45.26.
CenterPoint Energy Increases Dividend
The business also recently announced 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 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 20th. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.23. CenterPoint Energy’s dividend payout ratio is currently 56.47%.
Analysts Set New Price Targets
CNP has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of CenterPoint Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. KeyCorp lowered their target price on shares of CenterPoint Energy from $47.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Wall Street Zen raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. BMO Capital Markets reduced their price target on shares of CenterPoint Energy from $48.00 to $47.00 and set an “outperform” rating for the company in a research report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of CenterPoint Energy in a research note on Monday, June 15th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.36.
Check Out Our Latest Stock Analysis on CenterPoint Energy
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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