Millennium Management LLC Cuts Stock Position in CenterPoint Energy, Inc. (NYSE:CNP)

Millennium Management LLC lowered its position in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 90.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,802 shares of the utilities provider's stock after selling 621,506 shares during the period. Millennium Management LLC's holdings in CenterPoint Energy were worth $2,088,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CNP. Colonial Trust Co SC lifted its holdings 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 valued at $146,000 after acquiring an additional 388 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of CenterPoint Energy by 8.2% during the 4th quarter. Quadrant Capital Group LLC now owns 5,167 shares of the utilities provider's stock valued at $164,000 after purchasing an additional 390 shares in the last quarter. CoreCap Advisors LLC boosted its position in CenterPoint Energy by 58.9% during the 4th 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. Envestnet Portfolio Solutions Inc. boosted its position in CenterPoint Energy by 3.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,907 shares of the utilities provider's stock worth $378,000 after acquiring an additional 416 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in CenterPoint Energy by 3.2% during the 4th quarter. Farther Finance Advisors LLC now owns 13,909 shares of the utilities provider's stock worth $441,000 after acquiring an additional 432 shares during the last quarter. Institutional investors and hedge funds own 91.77% of the company's stock.

CenterPoint Energy Stock Down 0.6%

CenterPoint Energy stock traded down $0.23 during trading on Thursday, hitting $36.78. 4,824,908 shares of the company were exchanged, compared to its average volume of 5,647,273. The business's 50 day moving average is $37.29 and its 200 day moving average is $34.46. CenterPoint Energy, Inc. has a 52 week low of $25.41 and a 52 week high of $39.31. The company has a market capitalization of $24.00 billion, a P/E ratio of 23.13, a PEG ratio of 2.71 and a beta of 0.63. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.91.

CenterPoint Energy (NYSE:CNP - Get Free Report) last announced 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 return on equity of 10.02% and a net margin of 11.79%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter last year, the company posted $0.55 EPS. Analysts predict that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

CenterPoint Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 15th will be given a $0.22 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 2.39%. CenterPoint Energy's dividend payout ratio is currently 59.06%.

Analyst Ratings Changes

CNP has been the topic of a number of research analyst reports. Evercore ISI increased their price target on CenterPoint Energy from $37.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Argus upgraded CenterPoint Energy to a "hold" rating in a research note on Friday, April 4th. BMO Capital Markets increased their price target on CenterPoint Energy from $35.00 to $36.00 and gave the company a "market perform" rating in a research note on Monday, March 17th. Scotiabank restated an "outperform" rating and issued a $40.00 price target (up previously from $35.00) on shares of CenterPoint Energy in a research note on Friday, April 25th. Finally, Morgan Stanley dropped their price target on 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 equities research 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price 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.