Lincoln Capital Corp acquired a new stake in shares of CenterPoint Energy, Inc. (NYSE:CNP – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 78,587 shares of the utilities provider’s stock, valued at approximately $3,392,000. CenterPoint Energy comprises 1.2% of Lincoln Capital Corp’s holdings, making the stock its 27th largest position.
Several other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in CenterPoint Energy during the fourth quarter worth about $343,925,000. T. Rowe Price Investment Management Inc. raised its holdings in CenterPoint Energy by 13.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 58,286,690 shares of the utilities provider’s stock valued at $2,234,712,000 after acquiring an additional 6,794,535 shares in the last quarter. UBS Group AG lifted its position in shares of CenterPoint Energy by 31.3% in the 4th quarter. UBS Group AG now owns 7,261,079 shares of the utilities provider’s stock worth $278,390,000 after acquiring an additional 1,728,865 shares during the period. Jennison Associates LLC lifted its position in shares of CenterPoint Energy by 19.4% in the 4th quarter. Jennison Associates LLC now owns 7,722,893 shares of the utilities provider’s stock worth $296,096,000 after acquiring an additional 1,256,993 shares during the period. Finally, Merewether Investment Management LP grew its holdings in shares of CenterPoint Energy by 85.5% during the 3rd quarter. Merewether Investment Management LP now owns 2,493,500 shares of the utilities provider’s stock worth $96,748,000 after purchasing an additional 1,149,637 shares in the last quarter. Institutional investors own 91.77% of the company’s stock.
CenterPoint Energy Stock Down 0.2%
Shares of CNP opened at $42.75 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.16 and a debt-to-equity ratio of 1.96. The company has a 50-day moving average price of $42.59 and a two-hundred day moving average price of $41.32. The stock has a market cap of $27.97 billion, a price-to-earnings ratio of 26.23, a P/E/G ratio of 2.54 and a beta of 0.46. CenterPoint Energy, Inc. has a 12 month low of $35.46 and a 12 month high of $44.47.
CenterPoint Energy Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 21st were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Thursday, May 21st. CenterPoint Energy’s dividend payout ratio is 56.44%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on CNP shares. Evercore set a $45.00 price objective on CenterPoint Energy in a research report on Monday, May 4th. Mizuho set a $44.00 target price on CenterPoint Energy in a research report on Monday, February 23rd. Wall Street Zen downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Bank of America lifted their price target on shares of CenterPoint Energy from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Finally, KeyCorp boosted their price target on shares of CenterPoint Energy from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Eight analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $44.69.
Get Our Latest Research Report 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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