Swedbank AB purchased a new stake in shares of CenterPoint Energy, Inc. (NYSE:CNP – Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 55,541 shares of the utilities provider’s stock, valued at approximately $2,397,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. New Age Alpha Advisors LLC purchased a new stake in shares of CenterPoint Energy during the fourth quarter valued at $25,000. Caitong International Asset Management Co. Ltd increased its position in shares of CenterPoint Energy by 49.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 235 shares during the period. Rothschild Investment LLC raised its stake in CenterPoint Energy by 165.0% in the 4th quarter. Rothschild Investment LLC now owns 734 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 457 shares during the last quarter. DV Equities LLC purchased a new position in CenterPoint Energy in the 4th quarter worth $35,000. Finally, Rexford Capital Inc. acquired a new stake in CenterPoint Energy during the 1st quarter worth about $39,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.
CenterPoint Energy Stock Performance
CNP traded up $0.27 during midday trading on Friday, hitting $43.59. 6,551,005 shares of the company were exchanged, compared to its average volume of 6,599,078. The company’s 50 day simple moving average is $42.94 and its 200 day simple moving average is $41.93. The firm has a market capitalization of $28.51 billion, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 2.58 and a beta of 0.46. CenterPoint Energy, Inc. has a 1-year low of $35.58 and a 1-year high of $45.22. The company has a current ratio of 1.16, a quick ratio of 1.04 and a debt-to-equity ratio of 1.96.
CenterPoint Energy Announces Dividend
The business also recently disclosed 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 annualized dividend and a yield of 2.1%. The ex-dividend date was Thursday, May 21st. CenterPoint Energy’s dividend payout ratio is currently 56.44%.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Evercore set a $45.00 price target on CenterPoint Energy in a research note on Monday, May 4th. Bank of America raised their price objective on CenterPoint Energy from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. BTIG Research started coverage on CenterPoint Energy in a report on Tuesday, June 30th. They set a “neutral” rating for the company. Wall Street Zen lowered CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $48.00 price target on shares of CenterPoint Energy in a research report on Tuesday, April 21st. 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 stock presently has an average rating of “Hold” and an average target price of $44.69.
View Our Latest Research Report on CenterPoint Energy
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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