Energy Income Partners LLC Sells 44,374 Shares of CenterPoint Energy, Inc. $CNP

Key Points

• Energy Income Partners LLC reduced its CenterPoint Energy stake by 2.1%, selling 44,374 shares and retaining 2.12 million shares worth approximately $91.4 million. Institutional investors collectively own 91.77% of CNP.
• CenterPoint Energy raised its quarterly dividend from $0.23 to $0.24 per share, implying an annualized dividend of $0.96 and a 2.2% yield.
• CNP opened at $44.01, near analysts’ consensus price target of $45.38. Analyst sentiment is mixed but leans positive, with eight Buy ratings, seven Holds, and one Sell.

Energy Income Partners LLC reduced its position in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 2.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,117,813 shares of the utilities provider's stock after selling 44,374 shares during the quarter. CenterPoint Energy makes up about 1.5% of Energy Income Partners LLC's holdings, making the stock its 23rd largest position. Energy Income Partners LLC owned about 0.32% of CenterPoint Energy worth $91,405,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Excelsior Advisor Network LLC bought a new position in shares of CenterPoint Energy during the 1st quarter worth $389,000. Quantinno Capital Management LP raised its stake in CenterPoint Energy by 37.1% in the 1st quarter. Quantinno Capital Management LP now owns 265,844 shares of the utilities provider's stock valued at $11,474,000 after acquiring an additional 71,954 shares during the period. OMERS ADMINISTRATION Corp lifted its holdings in CenterPoint Energy by 29.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 29,418 shares of the utilities provider's stock valued at $1,270,000 after purchasing an additional 6,775 shares during the last quarter. Waverly Advisors LLC lifted its holdings in CenterPoint Energy by 14.1% during the first quarter. Waverly Advisors LLC now owns 9,231 shares of the utilities provider's stock valued at $398,000 after purchasing an additional 1,139 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in CenterPoint Energy during the first quarter worth about $13,587,000. 91.77% of the stock is currently owned by institutional investors.

CenterPoint Energy Price Performance

CNP stock opened at $44.01 on Tuesday. The firm has a 50 day simple moving average of $43.20 and a two-hundred day simple moving average of $42.37. The stock has a market cap of $28.79 billion, a PE ratio of 27.00, a P/E/G ratio of 2.64 and a beta of 0.46. CenterPoint Energy, Inc. has a one year low of $36.60 and a one year high of $45.22. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.16 and a quick ratio of 1.04.

CenterPoint Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be paid a $0.24 dividend. This is a boost from CenterPoint Energy's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 20th. CenterPoint Energy's payout ratio is currently 56.44%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CNP shares. Jefferies Financial Group set a $50.00 price objective on shares of CenterPoint Energy in a report on Thursday, June 18th. Morgan Stanley set a $40.00 target price on CenterPoint Energy in a research report on Wednesday, July 22nd. BMO Capital Markets cut their price target on CenterPoint Energy from $48.00 to $47.00 and set an "outperform" rating for the company in a report on Wednesday, July 22nd. Weiss Ratings reiterated a "buy (b)" rating on shares of CenterPoint Energy in a research report on Monday, June 15th. Finally, BTIG Research began coverage on CenterPoint Energy in a research note on Tuesday, June 30th. They set a "neutral" rating on the stock. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $45.38.

CenterPoint Energy Profile

CenterPoint Energy, Inc NYSE: CNP is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company's principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint's core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.

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