Jennison Associates LLC Has $216.41 Million Stock Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Jennison Associates LLC trimmed its position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 12.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,973,319 shares of the utilities provider's stock after selling 847,654 shares during the period. Jennison Associates LLC owned approximately 0.92% of CenterPoint Energy worth $216,413,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CNP. Capital Research Global Investors lifted its position in shares of CenterPoint Energy by 156.4% in 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 buying an additional 27,799,744 shares during the last quarter. BROOKFIELD Corp ON bought a new position in shares of CenterPoint Energy in the 4th quarter worth about $164,350,000. Norges Bank bought a new position in shares of CenterPoint Energy in the 4th quarter worth about $158,232,000. American Century Companies Inc. lifted its position in shares of CenterPoint Energy by 1,431.1% in the 4th quarter. American Century Companies Inc. now owns 3,408,551 shares of the utilities provider's stock worth $108,153,000 after buying an additional 3,185,932 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of CenterPoint Energy by 4.3% in the 4th 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 buying an additional 1,922,169 shares during the last quarter. 91.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Scotiabank restated an "outperform" rating and issued a $40.00 price target (up from $35.00) on shares of CenterPoint Energy in a research report on Friday, April 25th. Argus raised shares of CenterPoint Energy to a "hold" rating in a research note on Friday, April 4th. Wall Street Zen cut shares of CenterPoint Energy from a "hold" rating to a "sell" rating in a research note on Friday. Evercore ISI raised their target price on shares of CenterPoint Energy from $37.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Finally, Morgan Stanley lowered their target price on shares of CenterPoint Energy from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $36.13.

CenterPoint Energy Trading Up 2.1%

Shares of CNP traded up $0.77 during midday trading on Friday, hitting $37.27. The stock had a trading volume of 5,777,310 shares, compared to its average volume of 5,526,803. The company has a current ratio of 0.93, a quick ratio of 0.79 and a debt-to-equity ratio of 1.86. The firm has a market cap of $24.33 billion, a P/E ratio of 25.01, a price-to-earnings-growth ratio of 2.67 and a beta of 0.57. The business has a 50-day simple moving average of $36.58 and a two-hundred day simple moving average of $35.35. CenterPoint Energy, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $39.31.

CenterPoint Energy (NYSE:CNP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.73 billion. CenterPoint Energy had a return on equity of 9.74% and a net margin of 10.80%. During the same quarter in the prior year, the business posted $0.55 earnings per share. As a group, equities analysts forecast that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

CenterPoint Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Thursday, August 21st. CenterPoint Energy's payout ratio is 59.06%.

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.