GAMMA Investing LLC Has $19.45 Million Stake in CenterPoint Energy, Inc. (NYSE:CNP)

GAMMA Investing LLC grew its position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 4,585.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 536,856 shares of the utilities provider's stock after purchasing an additional 525,397 shares during the quarter. GAMMA Investing LLC owned 0.08% of CenterPoint Energy worth $19,450,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of CenterPoint Energy during the fourth quarter worth $254,000. abrdn plc lifted its stake in CenterPoint Energy by 4.2% in the fourth quarter. abrdn plc now owns 1,143,997 shares of the utilities provider's stock valued at $36,190,000 after acquiring an additional 45,710 shares during the last quarter. Mather Group LLC. boosted its holdings in CenterPoint Energy by 15.7% in the fourth quarter. Mather Group LLC. now owns 9,690 shares of the utilities provider's stock worth $307,000 after purchasing an additional 1,312 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of CenterPoint Energy by 40.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,044 shares of the utilities provider's stock valued at $1,870,000 after acquiring an additional 16,852 shares during the last quarter. Finally, Tectonic Advisors LLC grew its holdings in CenterPoint Energy by 6.9% during the fourth quarter. Tectonic Advisors LLC now owns 19,136 shares of the utilities provider's stock valued at $607,000 after purchasing an additional 1,237 shares during the last quarter. 91.77% of the stock is owned by institutional investors and hedge funds.

CenterPoint Energy Stock Down 0.2%

Shares of CenterPoint Energy stock traded down $0.06 during trading on Monday, reaching $36.55. The stock had a trading volume of 4,855,517 shares, compared to its average volume of 5,656,017. The company has a market capitalization of $23.86 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 2.71 and a beta of 0.59. The stock has a fifty day moving average price of $37.28 and a two-hundred day moving average price of $34.53. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.91. CenterPoint Energy, Inc. has a 52 week low of $25.41 and a 52 week high of $39.31.

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

CenterPoint Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 15th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.41%. CenterPoint Energy's payout ratio is 59.06%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CNP. BMO Capital Markets increased their price objective on CenterPoint Energy from $35.00 to $36.00 and gave the company a "market perform" rating in a research report on Monday, March 17th. Morgan Stanley reduced their price objective on CenterPoint Energy from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 22nd. Argus raised shares of CenterPoint Energy to a "hold" rating in a report on Friday, April 4th. Barclays raised CenterPoint Energy from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $30.00 to $37.00 in a report on Tuesday, April 22nd. Finally, Scotiabank restated an "outperform" rating and issued a $40.00 price target (up from $35.00) on shares of CenterPoint Energy in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $36.04.

CenterPoint Energy 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.