Mirae Asset Global Investments Co. Ltd. acquired a new position in CenterPoint Energy, Inc. (NYSE:CNP – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 167,248 shares of the utilities provider’s stock, valued at approximately $6,155,000.
Several other large investors also recently made changes to their positions in CNP. Keating Financial Advisory Services Inc. acquired a new stake in shares of CenterPoint Energy in the second quarter valued at $27,000. MidFirst Bank bought a new position in shares of CenterPoint Energy in the second quarter valued at about $38,000. Transamerica Financial Advisors LLC bought a new position in shares of CenterPoint Energy in the second quarter valued at about $40,000. Pin Oak Investment Advisors Inc. bought a new position in shares of CenterPoint Energy in the second quarter valued at about $44,000. Finally, N.E.W. Advisory Services LLC acquired a new position in CenterPoint Energy during the 2nd quarter worth about $54,000. Institutional investors own 91.77% of the company’s stock.
Analysts Set New Price Targets
CNP has been the topic of a number of research analyst reports. KeyCorp decreased their price objective on shares of CenterPoint Energy from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. BMO Capital Markets lowered their price objective on shares of CenterPoint Energy from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, October 19th. Barclays boosted their target price on shares of CenterPoint Energy from $41.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CenterPoint Energy in a research note on Friday, September 11th. Finally, Evercore set a $43.00 target price on shares of CenterPoint Energy in a research report on Monday, August 17th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.29.
Get Our Latest Stock Analysis on CenterPoint Energy
CenterPoint Energy Stock Down 2.6%
Shares of CNP opened at $39.98 on Friday. The firm has a market capitalization of $26.50 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 2.71 and a beta of 0.43. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.97 and a current ratio of 1.15. The business’s fifty day moving average price is $39.34 and its two-hundred day moving average price is $41.58. CenterPoint Energy, Inc. has a 52 week low of $36.37 and a 52 week high of $45.26.
CenterPoint Energy (NYSE:CNP – Get Free Report) last released its earnings results on Tuesday, October 27th. The utilities provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.50 by $0.03. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.17 billion. CenterPoint Energy had a return on equity of 11.16% and a net margin of 11.76%. During the same period last year, the firm earned $0.50 EPS. On average, analysts predict that CenterPoint Energy, Inc. will post 1.91 earnings per share for the current year.
CenterPoint Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be issued a $0.24 dividend. The ex-dividend date is Thursday, November 19th. This represents a $0.96 annualized dividend and a yield of 2.4%. CenterPoint Energy’s dividend payout ratio (DPR) is currently 54.86%.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc is a public utility holding company that provides electric and natural gas energy services in the United States. Its operations include electric transmission and distribution, natural gas distribution, and related infrastructure services for residential, commercial, and industrial customers.
The company is the primary electric delivery utility for the Houston, Texas, area and operates electric and natural gas businesses in several states, including Texas, Indiana, Ohio, Louisiana, and Mississippi.
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