BROOKFIELD Corp ON Makes New $164.35 Million Investment in CenterPoint Energy, Inc. (NYSE:CNP)

BROOKFIELD Corp ON bought a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,179,639 shares of the utilities provider's stock, valued at approximately $164,350,000. CenterPoint Energy makes up 1.0% of BROOKFIELD Corp ON's holdings, making the stock its 17th biggest position. BROOKFIELD Corp ON owned 0.79% of CenterPoint Energy as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital International Investors increased its stake in CenterPoint Energy by 0.4% in the fourth quarter. Capital International Investors now owns 87,449,927 shares of the utilities provider's stock valued at $2,774,941,000 after purchasing an additional 334,631 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of CenterPoint Energy by 4.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 46,645,434 shares of the utilities provider's stock valued at $1,480,060,000 after buying an additional 1,922,169 shares during the last quarter. Capital Research Global Investors raised its stake in CenterPoint Energy by 156.4% during the 4th quarter. Capital Research Global Investors now owns 45,573,115 shares of the utilities provider's stock worth $1,446,036,000 after acquiring an additional 27,799,744 shares in the last quarter. Geode Capital Management LLC lifted its position in CenterPoint Energy by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 15,490,728 shares of the utilities provider's stock valued at $490,205,000 after acquiring an additional 406,832 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in CenterPoint Energy by 7.9% in the fourth quarter. Northern Trust Corp now owns 5,880,015 shares of the utilities provider's stock valued at $186,573,000 after acquiring an additional 431,260 shares in the last quarter. Hedge funds and other institutional investors own 91.77% of the company's stock.

CenterPoint Energy Stock Down 1.1 %

NYSE:CNP traded down $0.42 during mid-day trading on Friday, hitting $37.53. The company had a trading volume of 6,163,817 shares, compared to its average volume of 5,550,555. CenterPoint Energy, Inc. has a 1 year low of $25.41 and a 1 year high of $39.31. The business has a fifty day simple moving average of $36.51 and a 200-day simple moving average of $33.51. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.91. The firm has a market capitalization of $24.50 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 2.71 and a beta of 0.63.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.73 billion. CenterPoint Energy had a net margin of 11.79% and a return on equity of 10.02%. During the same period last year, the business earned $0.55 EPS. Equities analysts forecast that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

CenterPoint Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 15th will be paid a $0.22 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.34%. CenterPoint Energy's dividend payout ratio (DPR) is presently 59.06%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Scotiabank reiterated an "outperform" rating and issued a $40.00 price objective (up previously from $35.00) on shares of CenterPoint Energy in a research note on Friday, April 25th. Jefferies Financial Group started coverage on shares of CenterPoint Energy in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $42.00 price target for the company. BMO Capital Markets raised their price objective on shares of CenterPoint Energy from $35.00 to $36.00 and gave the stock a "market perform" rating in a research report on Monday, March 17th. Argus upgraded shares of CenterPoint Energy to a "hold" rating in a research note on Friday, April 4th. Finally, Evercore ISI boosted their price target on CenterPoint Energy from $37.00 to $41.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, CenterPoint Energy currently has an average rating of "Hold" and a consensus target price of $35.79.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.