Jaffetilchin Investment Partners LLC Buys New Shares in CenterPoint Energy, Inc. (NYSE:CNP)

Jaffetilchin Investment Partners LLC bought a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 10,763 shares of the utilities provider's stock, valued at approximately $390,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fulton Bank N.A. grew its holdings in CenterPoint Energy by 2.7% during the first quarter. Fulton Bank N.A. now owns 13,718 shares of the utilities provider's stock valued at $497,000 after purchasing an additional 362 shares during the period. Colonial Trust Co SC boosted its position in shares of CenterPoint Energy by 9.2% during the fourth quarter. Colonial Trust Co SC now owns 4,601 shares of the utilities provider's stock worth $146,000 after purchasing an additional 388 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of CenterPoint Energy by 8.2% in the 4th quarter. Quadrant Capital Group LLC now owns 5,167 shares of the utilities provider's stock valued at $164,000 after buying an additional 390 shares during the period. CoreCap Advisors LLC grew its holdings in shares of CenterPoint Energy by 58.9% in the 4th quarter. CoreCap Advisors LLC now owns 1,079 shares of the utilities provider's stock valued at $34,000 after buying an additional 400 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of CenterPoint Energy by 3.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,907 shares of the utilities provider's stock valued at $378,000 after buying an additional 416 shares in the last quarter. 91.77% of the stock is owned by institutional investors.

CenterPoint Energy Stock Down 0.7%

Shares of CNP stock traded down $0.27 during trading on Tuesday, reaching $36.47. The company's stock had a trading volume of 2,062,514 shares, compared to its average volume of 5,643,841. CenterPoint Energy, Inc. has a one year low of $25.41 and a one year high of $39.31. The business has a fifty day moving average price of $37.17 and a 200-day moving average price of $34.99. The company has a market cap of $23.81 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 2.68 and a beta of 0.59. 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 (NYSE:CNP - Get Free Report) last issued its quarterly earnings results 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). CenterPoint Energy had a net margin of 10.80% and a return on equity of 9.74%. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Analysts anticipate that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

CenterPoint Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 15th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 2.41%. CenterPoint Energy's payout ratio is presently 59.06%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CNP shares. BMO Capital Markets raised their price objective on CenterPoint Energy from $35.00 to $36.00 and gave the stock a "market perform" rating in a research note on Monday, March 17th. JPMorgan Chase & Co. raised their price target on CenterPoint Energy from $38.00 to $39.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Argus upgraded CenterPoint Energy to a "hold" rating in a research report on Friday, April 4th. Evercore ISI increased their target price on CenterPoint Energy from $37.00 to $41.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Finally, Barclays raised shares of CenterPoint Energy from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $30.00 to $37.00 in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently 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.