ProShare Advisors LLC lifted its stake in CenterPoint Energy, Inc. (NYSE:CNP – Free Report) by 79.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 205,041 shares of the utilities provider’s stock after buying an additional 91,040 shares during the period. ProShare Advisors LLC’s holdings in CenterPoint Energy were worth $6,041,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CNP. Private Advisor Group LLC acquired a new position in shares of CenterPoint Energy in the 1st quarter worth approximately $440,000. Raymond James Trust N.A. increased its holdings in CenterPoint Energy by 59.0% during the 1st quarter. Raymond James Trust N.A. now owns 14,757 shares of the utilities provider’s stock valued at $452,000 after purchasing an additional 5,475 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in CenterPoint Energy by 28.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,585,045 shares of the utilities provider’s stock valued at $79,208,000 after purchasing an additional 572,884 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in CenterPoint Energy by 9.0% during the 1st quarter. Vontobel Holding Ltd. now owns 32,098 shares of the utilities provider’s stock valued at $988,000 after purchasing an additional 2,642 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in CenterPoint Energy by 59.3% during the 1st quarter. Sei Investments Co. now owns 738,270 shares of the utilities provider’s stock valued at $22,615,000 after purchasing an additional 274,696 shares in the last quarter. 88.96% of the stock is owned by institutional investors and hedge funds.
CenterPoint Energy Stock Up 0.3 %
NYSE:CNP opened at $29.08 on Monday. CenterPoint Energy, Inc. has a 12-month low of $25.03 and a 12-month high of $33.50. The company has a quick ratio of 0.65, a current ratio of 0.88 and a debt-to-equity ratio of 1.67. The firm has a market capitalization of $18.35 billion, a P/E ratio of 25.29, a P/E/G ratio of 2.55 and a beta of 0.89. The stock’s fifty day simple moving average is $29.00 and its 200-day simple moving average is $29.19.
CenterPoint Energy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 17th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.76 annualized dividend and a yield of 2.61%. CenterPoint Energy’s dividend payout ratio is presently 66.09%.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the company. Mizuho cut CenterPoint Energy from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a report on Friday, July 28th. JPMorgan Chase & Co. raised their price target on CenterPoint Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, August 17th. StockNews.com started coverage on CenterPoint Energy in a research note on Thursday, August 17th. They issued a “hold” rating for the company. UBS Group cut CenterPoint Energy from a “buy” rating to a “neutral” rating and lowered their target price for the company from $33.00 to $30.00 in a research note on Tuesday, June 6th. They noted that the move was a valuation call. Finally, Barclays started coverage on CenterPoint Energy in a research note on Wednesday, August 23rd. They issued an “underweight” rating and a $28.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.10.
Get Our Latest Research Report on CNP
About CenterPoint Energy
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. 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.
Featured Stories
- Five stocks we like better than CenterPoint Energy
- 3 Grocery Stocks That Can Help Take a Bite Out of Inflation
- 5 Reasons Apple’s New Phone Moves the Needle: 5 That It Won’t
- High Flyers: 3 Natural Gas Stocks for March 2022
- MarketBeat Week in Review – 9/11 – 9/15
- Investing in Commodities: What Are They? How to Invest in Them
- China’s Jump In Car Sales Is Drawing Big Money To These Stocks
Want to see what other hedge funds are holding CNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CenterPoint Energy, Inc. (NYSE:CNP – Free Report).
Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.
