Stack Financial Management Inc bought a new stake in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 740,429 shares of the utilities provider's stock, valued at approximately $21,154,000. CenterPoint Energy accounts for 2.4% of Stack Financial Management Inc's investment portfolio, making the stock its 16th biggest position. Stack Financial Management Inc owned 0.12% of CenterPoint Energy as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNP. Global Retirement Partners LLC raised its holdings in shares of CenterPoint Energy by 163.7% in the 4th quarter. Global Retirement Partners LLC now owns 894 shares of the utilities provider's stock valued at $26,000 after buying an additional 555 shares during the period. Compagnie Lombard Odier SCmA purchased a new stake in shares of CenterPoint Energy in the 3rd quarter valued at $36,000. Larson Financial Group LLC raised its holdings in shares of CenterPoint Energy by 634.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,389 shares of the utilities provider's stock valued at $37,000 after buying an additional 1,200 shares during the period. Bay Harbor Wealth Management LLC purchased a new stake in shares of CenterPoint Energy in the 4th quarter valued at $49,000. Finally, BluePath Capital Management LLC purchased a new stake in shares of CenterPoint Energy in the 3rd quarter valued at $80,000. Hedge funds and other institutional investors own 91.77% of the company's stock.
CenterPoint Energy Stock Performance
CenterPoint Energy stock traded down $0.48 during mid-day trading on Friday, reaching $28.86. 3,335,553 shares of the company were exchanged, compared to its average volume of 4,232,023. CenterPoint Energy, Inc. has a twelve month low of $25.42 and a twelve month high of $31.43. The firm's 50-day simple moving average is $28.02 and its two-hundred day simple moving average is $28.00. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.58 and a current ratio of 0.78. The firm has a market cap of $18.27 billion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 2.56 and a beta of 0.92.
CenterPoint Energy (NYSE:CNP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.83 billion. CenterPoint Energy had a return on equity of 10.44% and a net margin of 10.55%. During the same period last year, the firm earned $0.28 EPS. Equities analysts predict that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current fiscal year.
CenterPoint Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.77%. CenterPoint Energy's dividend payout ratio is currently 58.82%.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on CNP shares. Scotiabank cut their price target on CenterPoint Energy from $31.00 to $29.00 and set a "sector perform" rating on the stock in a report on Monday. Barclays upped their target price on CenterPoint Energy from $28.00 to $29.00 and gave the company an "underweight" rating in a research report on Thursday, March 14th. KeyCorp upped their target price on CenterPoint Energy from $29.00 to $31.00 and gave the company an "overweight" rating in a research report on Thursday, January 4th. Mizuho reissued a "neutral" rating and issued a $29.00 target price (down from $30.00) on shares of CenterPoint Energy in a research report on Wednesday, February 21st. Finally, Guggenheim decreased their target price on CenterPoint Energy from $33.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $30.18.
Read Our Latest Stock Analysis on CenterPoint Energy
About CenterPoint Energy
(
Free Report)
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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