Concurrent Investment Advisors LLC Invests $416,000 in CenterPoint Energy, Inc. (NYSE:CNP)

Concurrent Investment Advisors LLC acquired a new stake in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 11,492 shares of the utilities provider's stock, valued at approximately $416,000.

Several other large investors also recently modified their holdings of the company. Capital Research Global Investors grew its holdings 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 during the period. BROOKFIELD Corp ON bought a new stake in shares of CenterPoint Energy during the 4th quarter valued at about $164,350,000. Norges Bank acquired a new stake in CenterPoint Energy during the fourth quarter worth approximately $158,232,000. American Century Companies Inc. grew its stake in CenterPoint Energy by 1,431.1% during the fourth quarter. American Century Companies Inc. now owns 3,408,551 shares of the utilities provider's stock worth $108,153,000 after purchasing an additional 3,185,932 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its holdings in 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. 91.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CNP shares. JPMorgan Chase & Co. increased their price target on CenterPoint Energy from $38.00 to $39.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. Jefferies Financial Group started coverage on shares of CenterPoint Energy in a report on Wednesday, April 2nd. They issued a "buy" rating and a $42.00 price target for the company. Evercore ISI increased their price objective on shares of CenterPoint Energy from $37.00 to $41.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Morgan Stanley reduced their target price on CenterPoint Energy from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Thursday, May 22nd. Finally, Scotiabank reaffirmed an "outperform" rating and set a $40.00 price target (up from $35.00) on shares of CenterPoint Energy in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $36.04.

CenterPoint Energy Stock Performance

CenterPoint Energy stock traded down $0.10 during mid-day trading on Friday, reaching $36.13. 4,360,021 shares of the company's stock were exchanged, compared to its average volume of 5,628,099. The business's fifty day simple moving average is $36.84 and its 200 day simple moving average is $35.17. The company has a quick ratio of 0.79, a current ratio of 0.93 and a debt-to-equity ratio of 1.86. CenterPoint Energy, Inc. has a one year low of $25.41 and a one year high of $39.31. The firm has a market capitalization of $23.58 billion, a PE ratio of 22.64, a P/E/G ratio of 2.66 and a beta of 0.57.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.02). CenterPoint Energy had a return on equity of 9.74% and a net margin of 10.80%. The company had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.73 billion. During the same period last year, the firm posted $0.55 earnings per share. On average, sell-side analysts expect that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

CenterPoint Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.44%. The ex-dividend date was Thursday, May 15th. CenterPoint Energy's dividend payout ratio (DPR) is presently 59.06%.

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.