Energy Income Partners LLC acquired a new stake in shares of CenterPoint Energy, Inc. (NYSE:CNP – Free Report) in the second quarter, HoldingsChannel.com reports. The fund acquired 2,348,478 shares of the utilities provider’s stock, valued at approximately $103,427,000. CenterPoint Energy accounts for 1.6% of Energy Income Partners LLC’s holdings, making the stock its 20th biggest position.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital Research Global Investors boosted its holdings in CenterPoint Energy by 1.1% in the fourth quarter. Capital Research Global Investors now owns 20,941,909 shares of the utilities provider’s stock valued at $802,916,000 after acquiring an additional 235,346 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co purchased a new position in CenterPoint Energy during the 4th quarter valued at $3,834,000. Principal Financial Group Inc. raised its holdings in CenterPoint Energy by 6.9% in 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 lifted its position in shares of CenterPoint Energy by 96.0% in 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. boosted 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 valued at $52,976,000 after purchasing an additional 67,037 shares in the last quarter. Institutional investors own 91.77% of the company’s stock.
CenterPoint Energy Trading Down 0.1%
CenterPoint Energy stock opened at $40.59 on Wednesday. CenterPoint Energy, Inc. has a 12 month low of $36.60 and a 12 month high of $45.26. The company has a market capitalization of $26.73 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 2.42 and a beta of 0.46. The business’s fifty day simple moving average is $42.86 and its two-hundred day simple moving average is $42.62. The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 1.95.
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. This represents a $0.96 annualized dividend and a yield of 2.4%. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, August 20th. CenterPoint Energy’s dividend payout ratio is presently 54.12%.
Analyst Ratings Changes
Several analysts have commented on CNP shares. JPMorgan Chase & Co. raised their price objective on shares of CenterPoint Energy from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Wolfe Research reiterated an “outperform” rating and set a $49.00 target price on shares of CenterPoint Energy in a report on Wednesday, July 29th. BMO Capital Markets dropped their price target on CenterPoint Energy from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 22nd. Wall Street Zen upgraded CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of CenterPoint Energy in a report on Monday, June 15th. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $45.43.
View 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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