59,418 CenterPoint Energy, Inc. $CNP Shares Acquired by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its CenterPoint Energy stake by 381.3%, purchasing 59,418 additional shares to hold 75,000 shares valued at approximately $2.76 million. Institutional investors collectively own 91.77% of the company.
• CenterPoint Energy exceeded quarterly expectations, reporting $0.53 in EPS and $2.19 billion in revenue, while analysts forecast full-year EPS of $1.91.
• The company declared a quarterly dividend of $0.24, equivalent to an annualized $0.96 payout and a 2.2% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $44.29.

International Assets Investment Management LLC raised its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 381.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 75,000 shares of the utilities provider's stock after buying an additional 59,418 shares during the period. International Assets Investment Management LLC's holdings in CenterPoint Energy were worth $2,760,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Deutsche Bank AG purchased a new position in shares of CenterPoint Energy in the 2nd quarter worth $770,871,000. Bank of America Corp DE purchased a new stake in CenterPoint Energy during the second quarter valued at $332,753,000. Legal & General Group Plc purchased a new stake in CenterPoint Energy during the second quarter valued at $250,273,000. GQG Partners LLC purchased a new stake in CenterPoint Energy during the second quarter valued at $176,574,000. Finally, Bank of New York Mellon Corp bought a new position in CenterPoint Energy in the second quarter valued at about $163,893,000. 91.77% of the stock is owned by institutional investors.

CenterPoint Energy Trading Up 0.5%

NYSE:CNP opened at $42.67 on Tuesday. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.15 and a quick ratio of 0.97. The firm has a market capitalization of $28.29 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 2.75 and a beta of 0.47. CenterPoint Energy, Inc. has a one year low of $36.37 and a one year high of $45.26. The business has a fifty day moving average price of $39.23 and a 200-day moving average price of $41.55.

CenterPoint Energy (NYSE:CNP - Get Free Report) last announced its earnings results on Tuesday, October 27th. The utilities provider reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.03. The company had revenue of $2.19 billion for 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. Sell-side analysts forecast that CenterPoint Energy, Inc. will post 1.91 EPS for the current year.

CenterPoint Energy Dividend Announcement

The business also recently declared 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 is Thursday, November 19th. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. CenterPoint Energy's dividend payout ratio is presently 54.86%.

Analysts Set New Price Targets

CNP has been the topic of several research reports. Morgan Stanley raised their target price on CenterPoint Energy from $38.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 21st. KeyCorp reduced their price target on shares of CenterPoint Energy from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Tuesday, October 13th. Evercore set a $43.00 price target on shares of CenterPoint Energy in a research report on Monday, August 17th. JPMorgan Chase & Co. lowered their price objective on shares of CenterPoint Energy from $46.00 to $44.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 13th. Finally, Mizuho set a $43.00 price objective on shares of CenterPoint Energy in a report on Wednesday, October 28th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $44.29.

CenterPoint Energy 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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