Castleton Investment Management LLC acquired a new stake in CenterPoint Energy, Inc. (NYSE:CNP) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 51,569 shares of the utilities provider’s stock, valued at approximately $1,506,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Carnegie Capital Asset Management LLC lifted its position in CenterPoint Energy by 0.3% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 12,513 shares of the utilities provider’s stock valued at $353,000 after acquiring an additional 39 shares in the last quarter. Paradigm Asset Management Co. LLC raised its stake in CenterPoint Energy by 2.2% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock valued at $126,000 after buying an additional 100 shares during the last quarter. CIBC Asset Management Inc raised its stake in CenterPoint Energy by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 43,536 shares of the utilities provider’s stock valued at $1,192,000 after buying an additional 144 shares during the last quarter. IHT Wealth Management LLC purchased a new stake in CenterPoint Energy during the 2nd quarter valued at $153,000. Finally, Veritable L.P. raised its stake in CenterPoint Energy by 2.9% during the 2nd quarter. Veritable L.P. now owns 11,989 shares of the utilities provider’s stock valued at $328,000 after buying an additional 342 shares during the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of CenterPoint Energy, Inc. (CNP) opened at $28.92 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 2.08. The company has a market capitalization of $12,655.14, a price-to-earnings ratio of 22.41, a PEG ratio of 4.05 and a beta of 0.62. CenterPoint Energy, Inc. has a 12 month low of $23.73 and a 12 month high of $30.45.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Thursday, November 16th will be paid a $0.2675 dividend. The ex-dividend date is Wednesday, November 15th. This represents a $1.07 annualized dividend and a dividend yield of 3.70%. CenterPoint Energy’s dividend payout ratio (DPR) is 78.10%.
A number of equities research analysts have weighed in on CNP shares. BidaskClub upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Credit Suisse Group upgraded shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $28.82 to $29.00 in a research note on Monday, August 14th. Royal Bank Of Canada reiterated a “hold” rating and set a $29.00 target price on shares of CenterPoint Energy in a research note on Monday, September 11th. SunTrust Banks reiterated a “hold” rating and set a $30.00 target price on shares of CenterPoint Energy in a research note on Monday, October 2nd. Finally, J P Morgan Chase & Co set a $30.00 target price on shares of CenterPoint Energy and gave the company a “hold” rating in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $28.89.
In other news, CEO Scott M. Prochazka sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $29.61, for a total value of $29,610.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 3,000 shares of company stock valued at $88,080 over the last 90 days. 0.20% of the stock is currently owned by company insiders.
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CenterPoint Energy Profile
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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