Several other analysts have also issued reports on CNP. Royal Bank of Canada reissued a hold rating and set a $29.00 price target on shares of CenterPoint Energy in a report on Monday, September 11th. Zacks Investment Research upgraded CenterPoint Energy from a sell rating to a hold rating in a research report on Tuesday, December 12th. Citigroup boosted their price objective on CenterPoint Energy from $27.00 to $30.00 and gave the company a neutral rating in a research report on Monday, November 20th. JPMorgan Chase & Co. set a $30.00 price objective on CenterPoint Energy and gave the company a hold rating in a research report on Thursday, October 12th. Finally, Guggenheim downgraded CenterPoint Energy from a buy rating to a neutral rating in a research report on Monday, December 4th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. CenterPoint Energy presently has an average rating of Hold and a consensus target price of $29.13.
Shares of CenterPoint Energy (NYSE CNP) traded down $0.04 on Tuesday, hitting $28.03. The company had a trading volume of 1,348,800 shares, compared to its average volume of 2,838,848. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 2.08. CenterPoint Energy has a one year low of $24.41 and a one year high of $30.45. The company has a market capitalization of $12,080.00, a price-to-earnings ratio of 20.31, a P/E/G ratio of 3.74 and a beta of 0.62.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be given a $0.2775 dividend. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.27. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Wednesday, February 14th. CenterPoint Energy’s payout ratio is currently 77.54%.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $29.39, for a total transaction of $29,390.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 3,000 shares of company stock worth $88,080 over the last quarter. 0.20% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC grew its stake in CenterPoint Energy by 7.1% in the third quarter. Parametric Portfolio Associates LLC now owns 1,719,131 shares of the utilities provider’s stock worth $50,216,000 after purchasing an additional 114,428 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in CenterPoint Energy in the third quarter worth approximately $578,000. Moors & Cabot Inc. grew its stake in CenterPoint Energy by 5.1% in the third quarter. Moors & Cabot Inc. now owns 45,587 shares of the utilities provider’s stock worth $1,338,000 after purchasing an additional 2,202 shares in the last quarter. Cetera Advisor Networks LLC bought a new position in CenterPoint Energy in the third quarter worth approximately $206,000. Finally, Dana Investment Advisors Inc. grew its stake in CenterPoint Energy by 1.0% in the third quarter. Dana Investment Advisors Inc. now owns 516,404 shares of the utilities provider’s stock worth $15,084,000 after purchasing an additional 5,187 shares in the last quarter. 77.70% of the stock is currently owned by hedge funds and other institutional investors.
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CenterPoint Energy Company 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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