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

Concurrent Investment Advisors LLC bought a new stake in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,492 shares of the utilities provider's stock, valued at approximately $416,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors increased its position in shares of CenterPoint Energy by 0.4% during the fourth 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 during the period. T. Rowe Price Investment Management Inc. increased its position in shares of CenterPoint Energy by 4.3% during 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 acquiring an additional 1,922,169 shares during the period. Capital Research Global Investors increased its position in shares of CenterPoint Energy by 156.4% during 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 acquiring an additional 27,799,744 shares during the period. Geode Capital Management LLC increased its position in shares of 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 worth $490,205,000 after acquiring an additional 406,832 shares during the period. Finally, Northern Trust Corp increased its position in shares of CenterPoint Energy by 7.9% during the fourth quarter. Northern Trust Corp now owns 5,880,015 shares of the utilities provider's stock worth $186,573,000 after acquiring an additional 431,260 shares during the period. Hedge funds and other institutional investors own 91.77% of the company's stock.

CenterPoint Energy Stock Performance

NYSE CNP traded up $0.07 during trading hours on Monday, hitting $36.21. The company had a trading volume of 4,993,456 shares, compared to its average volume of 5,235,821. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.79 and a current ratio of 0.93. CenterPoint Energy, Inc. has a 1-year low of $25.41 and a 1-year high of $39.31. The company has a market cap of $23.63 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 2.66 and a beta of 0.57. The business has a 50 day moving average of $36.78 and a 200-day moving average of $35.24.

CenterPoint Energy (NYSE:CNP - Get Free Report) last released 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 company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.73 billion. CenterPoint Energy had a net margin of 10.80% and a return on equity of 9.74%. During the same quarter in the prior year, the company earned $0.55 EPS. As a group, equities research analysts expect that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

CenterPoint Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 15th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Thursday, May 15th. CenterPoint Energy's payout ratio is currently 59.06%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CNP. Argus raised CenterPoint Energy to a "hold" rating in a research report on Friday, April 4th. JPMorgan Chase & Co. upped their price objective on CenterPoint Energy from $38.00 to $39.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Jefferies Financial Group started coverage on CenterPoint Energy in a research report on Wednesday, April 2nd. They set a "buy" rating and a $42.00 price objective on the stock. Morgan Stanley lowered their target price on shares of 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, BMO Capital Markets boosted their target price on shares of CenterPoint Energy from $35.00 to $36.00 and gave the stock a "market perform" rating in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $36.04.

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.