BROOKFIELD Corp ON Buys New Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

BROOKFIELD Corp ON purchased a new position in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 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 investment portfolio, making the stock its 17th biggest position. BROOKFIELD Corp ON owned approximately 0.79% of CenterPoint Energy as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CNP. Evercore ISI boosted their price target on shares of CenterPoint Energy from $37.00 to $41.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Morgan Stanley restated an "outperform" rating on shares of CenterPoint Energy in a research note on Wednesday, April 23rd. Guggenheim downgraded CenterPoint Energy from a "buy" rating to a "neutral" rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. boosted their price target on CenterPoint Energy from $34.00 to $36.00 and gave the company a "neutral" rating in a research note on Tuesday, March 11th. Finally, Barclays raised shares of CenterPoint Energy from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $30.00 to $37.00 in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, CenterPoint Energy currently has an average rating of "Hold" and an average target price of $35.79.

CenterPoint Energy Stock Performance

Shares of NYSE:CNP traded down $0.42 during midday trading on Friday, hitting $37.53. The company's stock had a trading volume of 6,163,817 shares, compared to its average volume of 5,568,920. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.92 and a current ratio of 1.08. The stock's 50 day simple moving average is $36.51 and its 200 day simple moving average is $33.48. The stock 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, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $39.31.

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

CenterPoint Energy Dividend Announcement

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

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.