Pictet Asset Management Holding SA raised its stake in CenterPoint Energy, Inc. (NYSE:CNP – Free Report) by 10.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,195,979 shares of the utilities provider’s stock after buying an additional 701,167 shares during the quarter. Pictet Asset Management Holding SA’s holdings in CenterPoint Energy were worth $264,812,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of CNP. Deutsche Bank AG bought a new position in shares of CenterPoint Energy in the second quarter valued at approximately $770,871,000. Bank of America Corp DE bought a new stake in CenterPoint Energy during the second quarter worth $332,753,000. Legal & General Group Plc bought a new stake in CenterPoint Energy during the second quarter worth $250,273,000. GQG Partners LLC purchased a new stake in CenterPoint Energy in the 2nd quarter valued at $176,574,000. Finally, Bank of New York Mellon Corp purchased a new stake in CenterPoint Energy in the 2nd quarter valued at $163,893,000. 91.77% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
CNP has been the topic of several recent analyst reports. Jefferies Financial Group restated a “buy” rating on shares of CenterPoint Energy in a research note on Thursday, October 29th. Mizuho set a $43.00 target price on shares of CenterPoint Energy in a research note on Wednesday, October 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of CenterPoint Energy in a research note on Friday, September 11th. TD Cowen started coverage on shares of CenterPoint Energy in a report on Thursday, October 22nd. They issued a “buy” rating and a $47.00 target price for the company. Finally, Royal Bank Of Canada assumed coverage on shares of CenterPoint Energy in a report on Tuesday, September 15th. They issued a “sector perform” rating and a $40.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, CenterPoint Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.29.
Check Out Our Latest Research Report on CNP
CenterPoint Energy Price Performance
Shares of NYSE CNP opened at $40.66 on Friday. CenterPoint Energy, Inc. has a twelve month low of $36.37 and a twelve month high of $45.26. The stock’s 50 day moving average price is $39.37 and its 200-day moving average price is $41.59. The company has a market capitalization of $26.95 billion, a PE ratio of 23.23, a PEG ratio of 2.69 and a beta of 0.43. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.02.
CenterPoint Energy (NYSE:CNP – Get Free Report) last released its earnings results on Tuesday, October 27th. The utilities provider reported $0.53 earnings per share (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 analyst estimates 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 in the prior year, the company posted $0.50 earnings per share. On average, equities analysts anticipate that CenterPoint Energy, Inc. will post 1.91 EPS for the current year.
CenterPoint Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.96 annualized dividend and a yield of 2.4%. CenterPoint Energy’s payout ratio is currently 54.86%.
CenterPoint Energy Profile
CenterPoint Energy, Inc is a regulated energy delivery company based in Houston, Texas. Its main businesses are electric transmission and distribution and natural gas distribution, connecting customers to energy and maintaining the infrastructure that delivers it.
The company’s electric utility operations serve the Houston area, while its natural gas utilities serve customers in Texas, Indiana, Minnesota and Ohio. CenterPoint Energy’s services include operating and maintaining power lines, gas distribution systems and related utility infrastructure.
The company adopted the CenterPoint Energy name in 2002 following a restructuring of Reliant Energy.
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