CANADA LIFE ASSURANCE Co increased its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 5.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 758,905 shares of the utilities provider's stock after buying an additional 40,356 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.12% of CenterPoint Energy worth $24,058,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Sanctuary Advisors LLC boosted its stake in shares of CenterPoint Energy by 18.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 38,917 shares of the utilities provider's stock valued at $1,243,000 after purchasing an additional 6,073 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of CenterPoint Energy during the third quarter worth approximately $26,000. Retirement Systems of Alabama raised its stake in shares of CenterPoint Energy by 2.0% in the third quarter. Retirement Systems of Alabama now owns 143,906 shares of the utilities provider's stock valued at $4,234,000 after acquiring an additional 2,789 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of CenterPoint Energy by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 847,366 shares of the utilities provider's stock worth $24,930,000 after acquiring an additional 56,037 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in CenterPoint Energy by 53.3% during the 4th quarter. GAMMA Investing LLC now owns 11,459 shares of the utilities provider's stock worth $364,000 after acquiring an additional 3,983 shares during the last quarter. Institutional investors and hedge funds own 91.77% of the company's stock.
Analysts Set New Price Targets
Several analysts have recently commented on CNP shares. BMO Capital Markets increased their target price on CenterPoint Energy from $35.00 to $36.00 and gave the stock a "market perform" rating in a report on Monday, March 17th. Argus raised shares of CenterPoint Energy to a "hold" rating in a research note on Friday, April 4th. Morgan Stanley raised their price target on shares of CenterPoint Energy from $32.00 to $34.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Jefferies Financial Group initiated coverage on CenterPoint Energy in a report on Wednesday, April 2nd. They set a "buy" rating and a $42.00 price objective on the stock. Finally, Barclays raised CenterPoint Energy from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $30.00 to $37.00 in a research note on Tuesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $35.04.
Get Our Latest Report on CNP
CenterPoint Energy Stock Up 0.2 %
Shares of CenterPoint Energy stock traded up $0.07 on Wednesday, hitting $37.33. The company had a trading volume of 5,228,013 shares, compared to its average volume of 5,558,914. The stock has a 50-day moving average of $35.37 and a 200-day moving average of $32.73. CenterPoint Energy, Inc. has a twelve month low of $25.41 and a twelve month high of $37.70. The firm has a market capitalization of $24.37 billion, a P/E ratio of 23.48, a P/E/G ratio of 2.71 and a beta of 0.65. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.08 and a quick ratio of 0.92.
CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.46 billion. CenterPoint Energy had a net margin of 11.79% and a return on equity of 10.02%. Research analysts predict that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.
CenterPoint Energy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 15th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.36%. CenterPoint Energy's dividend payout ratio is presently 55.35%.
About CenterPoint Energy
(
Free Report)
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. 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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