Alliancebernstein L.P. boosted its position in CenterPoint Energy, Inc. (NYSE:CNP) by 6.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 978,720 shares of the utilities provider’s stock after acquiring an additional 60,311 shares during the period. Alliancebernstein L.P.’s holdings in CenterPoint Energy were worth $27,062,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in CNP. Oppenheimer & Co. Inc. grew its holdings in CenterPoint Energy by 18.9% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 11,129 shares of the utilities provider’s stock valued at $309,000 after buying an additional 1,771 shares in the last quarter. First Allied Advisory Services Inc. grew its holdings in CenterPoint Energy by 18.9% during the 2nd quarter. First Allied Advisory Services Inc. now owns 11,719 shares of the utilities provider’s stock valued at $331,000 after buying an additional 1,865 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in CenterPoint Energy by 5.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 38,624 shares of the utilities provider’s stock valued at $1,070,000 after buying an additional 1,989 shares in the last quarter. Zacks Investment Management grew its holdings in CenterPoint Energy by 5.1% during the 2nd quarter. Zacks Investment Management now owns 43,053 shares of the utilities provider’s stock valued at $1,193,000 after buying an additional 2,090 shares in the last quarter. Finally, Signition LP grew its holdings in CenterPoint Energy by 24.1% during the 3rd quarter. Signition LP now owns 11,007 shares of the utilities provider’s stock valued at $304,000 after buying an additional 2,141 shares in the last quarter. Institutional investors and hedge funds own 69.97% of the company’s stock.
A number of research analysts have weighed in on CNP shares. ValuEngine raised CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. JPMorgan Chase & Co. raised CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 target price for the company in a report on Wednesday, September 5th. Zacks Investment Research raised CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Wednesday, October 3rd. Barclays started coverage on CenterPoint Energy in a report on Monday, October 22nd. They set a “hold” rating and a $30.00 target price for the company. Finally, Wells Fargo & Co reissued a “buy” rating on shares of CenterPoint Energy in a report on Friday, November 9th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. CenterPoint Energy has an average rating of “Hold” and an average target price of $29.44.
Shares of NYSE CNP opened at $28.01 on Monday. CenterPoint Energy, Inc. has a 12 month low of $24.81 and a 12 month high of $30.17. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.54. The stock has a market cap of $14.04 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 3.00 and a beta of 0.43.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Thursday, November 8th. The utilities provider reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). CenterPoint Energy had a return on equity of 14.40% and a net margin of 15.15%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts anticipate that CenterPoint Energy, Inc. will post 1.57 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 15th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Wednesday, November 14th. CenterPoint Energy’s payout ratio is 81.02%.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
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