Lavaca Capital LLC Makes New Investment in CenterPoint Energy, Inc. (NYSE:CNP)

Lavaca Capital LLC purchased a new stake in CenterPoint Energy, Inc. (NYSE:CNP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 70,000 shares of the utilities provider’s stock, valued at approximately $2,059,000. CenterPoint Energy comprises 0.9% of Lavaca Capital LLC’s investment portfolio, making the stock its 14th largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Olistico Wealth LLC bought a new position in CenterPoint Energy during the second quarter worth $33,000. Rothschild Investment LLC bought a new position in shares of CenterPoint Energy in the 2nd quarter worth about $33,000. First Horizon Advisors Inc. boosted its holdings in shares of CenterPoint Energy by 51.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock valued at $33,000 after buying an additional 375 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in CenterPoint Energy during the second quarter worth about $36,000. Finally, Kimelman & Baird LLC bought a new position in CenterPoint Energy in the second quarter worth about $43,000. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

CenterPoint Energy Price Performance

CNP opened at $32.62 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.92 and a debt-to-equity ratio of 1.87. CenterPoint Energy, Inc. has a 1 year low of $25.41 and a 1 year high of $32.86. The stock has a fifty day moving average price of $30.14 and a 200 day moving average price of $29.27. The stock has a market cap of $21.26 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 2.83 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Monday, October 28th. The utilities provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.88 billion. CenterPoint Energy had a return on equity of 9.73% and a net margin of 11.25%. During the same quarter in the previous year, the business posted $0.40 EPS. Analysts forecast that CenterPoint Energy, Inc. will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.58%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, November 21st. CenterPoint Energy’s dividend payout ratio is presently 55.63%.

Wall Street Analysts Forecast Growth

CNP has been the topic of several recent research reports. BMO Capital Markets reissued a “market perform” rating and issued a $28.00 price target on shares of CenterPoint Energy in a report on Monday, August 26th. Bank of America started coverage on shares of CenterPoint Energy in a report on Thursday, September 12th. They issued a “neutral” rating and a $29.00 price objective for the company. StockNews.com cut CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Wells Fargo & Company raised their target price on shares of CenterPoint Energy from $28.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley dropped their price target on CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.00.

About CenterPoint Energy

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.