Creative Planning cut its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP – Free Report) by 75.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,746 shares of the utilities provider’s stock after selling 207,415 shares during the quarter. Creative Planning’s holdings in CenterPoint Energy were worth $1,917,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CNP. Private Advisor Group LLC bought a new position in shares of CenterPoint Energy during the first quarter valued at $440,000. Raymond James Trust N.A. raised its holdings in shares of CenterPoint Energy by 59.0% in the first quarter. Raymond James Trust N.A. now owns 14,757 shares of the utilities provider’s stock valued at $452,000 after buying an additional 5,475 shares during the last quarter. Dimensional Fund Advisors LP lifted its position 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 worth $79,208,000 after buying an additional 572,884 shares in the last quarter. Vontobel Holding Ltd. lifted its position in CenterPoint Energy by 9.0% during the 1st quarter. Vontobel Holding Ltd. now owns 32,098 shares of the utilities provider’s stock worth $988,000 after buying an additional 2,642 shares in the last quarter. Finally, Sei Investments Co. lifted its position in CenterPoint Energy by 59.3% during the 1st quarter. Sei Investments Co. now owns 738,270 shares of the utilities provider’s stock worth $22,615,000 after buying an additional 274,696 shares in the last quarter. 88.96% of the stock is owned by institutional investors.
CenterPoint Energy Stock Performance
Shares of CNP stock opened at $27.75 on Thursday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.88 and a quick ratio of 0.65. The stock has a market cap of $17.52 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 2.44 and a beta of 0.89. The stock has a 50-day moving average of $28.03 and a 200-day moving average of $29.08. CenterPoint Energy, Inc. has a one year low of $25.03 and a one year high of $31.52.
CenterPoint Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 15th. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.88%. CenterPoint Energy’s dividend payout ratio is 66.09%.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of CenterPoint Energy in a research report on Thursday, October 5th. They set a “sell” rating on the stock. TheStreet downgraded shares of CenterPoint Energy from a “b” rating to a “c+” rating in a research report on Monday, October 2nd. JPMorgan Chase & Co. upped their price target on shares of CenterPoint Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 17th. Guggenheim reduced their price target on shares of CenterPoint Energy from $34.00 to $29.00 in a research report on Monday. Finally, Mizuho downgraded shares of CenterPoint Energy from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, CenterPoint Energy has an average rating of “Hold” and an average target price of $31.70.
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.
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