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

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

A number of other institutional investors also recently modified their holdings of CNP. Curat Global LLC bought a new position in shares of CenterPoint Energy in the first quarter worth about $25,000. Smallwood Wealth Investment Management LLC bought a new position in shares of CenterPoint Energy in the first quarter worth about $27,000. Assetmark Inc. raised its stake in shares of CenterPoint Energy by 657.1% in the fourth quarter. Assetmark Inc. now owns 901 shares of the utilities provider's stock worth $29,000 after acquiring an additional 782 shares during the last quarter. VSM Wealth Advisory LLC bought a new position in shares of CenterPoint Energy in the fourth quarter worth about $32,000. Finally, CoreCap Advisors LLC raised its stake in shares of CenterPoint Energy by 58.9% in the fourth quarter. CoreCap Advisors LLC now owns 1,079 shares of the utilities provider's stock worth $34,000 after acquiring an additional 400 shares during the last quarter. 91.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CNP shares. Jefferies Financial Group started coverage on shares of CenterPoint Energy in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $42.00 target price for the company. BMO Capital Markets boosted their price target 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. Argus raised shares of CenterPoint Energy to a "hold" rating in a research note on Friday, April 4th. JPMorgan Chase & Co. boosted their price target on shares of CenterPoint Energy from $38.00 to $39.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. Finally, Morgan Stanley dropped their price target 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. 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, CenterPoint Energy has an average rating of "Hold" and a consensus price target of $36.04.

CenterPoint Energy Stock Up 0.4%

Shares of NYSE CNP opened at $36.21 on Friday. The stock has a market cap of $23.64 billion, a P/E ratio of 24.30, a P/E/G ratio of 2.65 and a beta of 0.57. The firm has a 50 day moving average price of $36.84 and a 200 day moving average price of $35.17. 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 52-week low of $25.41 and a 52-week high of $39.31.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $2.92 billion for 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 firm posted $0.55 EPS. Analysts expect that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

CenterPoint Energy Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 2.43%. 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.

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