Duff & Phelps Investment Management Co. raised its stake in CenterPoint Energy, Inc. (NYSE:CNP – Free Report) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,009,756 shares of the utilities provider’s stock after purchasing an additional 247,944 shares during the period. CenterPoint Energy accounts for approximately 1.7% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 13th biggest position. Duff & Phelps Investment Management Co.’s holdings in CenterPoint Energy were worth $147,387,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. First Horizon Advisors Inc. boosted its holdings in shares of CenterPoint Energy by 51.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock worth $33,000 after buying an additional 375 shares during the period. GHP Investment Advisors Inc. boosted its holdings in shares of CenterPoint Energy by 25.7% during the third quarter. GHP Investment Advisors Inc. now owns 2,047 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 418 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of CenterPoint Energy by 2.4% during the second quarter. V Square Quantitative Management LLC now owns 19,650 shares of the utilities provider’s stock worth $609,000 after acquiring an additional 462 shares during the period. US Bancorp DE grew its position in shares of CenterPoint Energy by 0.8% in the third quarter. US Bancorp DE now owns 60,511 shares of the utilities provider’s stock valued at $1,780,000 after purchasing an additional 472 shares during the last quarter. Finally, Metis Global Partners LLC increased its stake in shares of CenterPoint Energy by 2.4% during the third quarter. Metis Global Partners LLC now owns 20,538 shares of the utilities provider’s stock worth $604,000 after purchasing an additional 484 shares during the period. 91.77% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on CNP. Wells Fargo & Company upped their price objective on CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. StockNews.com cut CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. Bank of America assumed coverage on CenterPoint Energy in a report on Thursday, September 12th. They set a “neutral” rating and a $29.00 target price on the stock. UBS Group raised shares of CenterPoint Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $31.00 to $37.00 in a research report on Tuesday, December 3rd. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $28.00 price objective on shares of CenterPoint Energy in a research note on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, CenterPoint Energy presently has a consensus rating of “Hold” and an average target price of $30.58.
CenterPoint Energy Price Performance
CNP stock opened at $31.66 on Monday. CenterPoint Energy, Inc. has a 1 year low of $25.41 and a 1 year high of $33.00. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.92. The stock has a market cap of $20.63 billion, a price-to-earnings ratio of 20.97, a P/E/G ratio of 2.74 and a beta of 0.96. The company has a 50 day simple moving average of $30.46 and a 200 day simple moving average of $29.33.
CenterPoint Energy (NYSE:CNP – Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The utilities provider reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates 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 company posted $0.40 EPS. Research analysts anticipate that CenterPoint Energy, Inc. will post 1.62 EPS for the current fiscal year.
CenterPoint Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Thursday, November 21st. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.20. CenterPoint Energy’s dividend payout ratio (DPR) is 55.63%.
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.
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