Intech Investment Management LLC Has $7.74 Million Stock Position in CenterPoint Energy, Inc. (NYSE:CNP)

Intech Investment Management LLC trimmed its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 15.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 263,014 shares of the utilities provider's stock after selling 47,339 shares during the period. Intech Investment Management LLC's holdings in CenterPoint Energy were worth $7,738,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Crewe Advisors LLC purchased a new stake in shares of CenterPoint Energy during the first quarter valued at $25,000. Olistico Wealth LLC purchased a new stake in shares of CenterPoint Energy during the second quarter valued at $33,000. Rothschild Investment LLC purchased a new stake in shares of CenterPoint Energy during the second quarter valued at $33,000. First Horizon Advisors Inc. lifted its holdings in shares of CenterPoint Energy by 51.3% during the third quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 375 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of CenterPoint Energy during the second quarter valued at $36,000. 91.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. downgraded CenterPoint Energy from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $32.00 to $29.00 in a research note on Friday, August 2nd. BMO Capital Markets reissued a "market perform" rating and issued a $28.00 price objective on shares of CenterPoint Energy in a research note on Monday, August 26th. Morgan Stanley reduced their price objective on CenterPoint Energy from $32.00 to $31.00 and set an "equal weight" rating for the company in a research note on Friday. Scotiabank increased their price objective on CenterPoint Energy from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company increased their price objective on CenterPoint Energy from $28.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, CenterPoint Energy has an average rating of "Hold" and a consensus target price of $30.00.

CenterPoint Energy Stock Up 0.6 %

Shares of NYSE CNP traded up $0.20 during mid-day trading on Friday, reaching $31.93. 4,893,657 shares of the company traded hands, compared to its average volume of 5,360,303. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.92 and a current ratio of 1.11. The stock has a market cap of $20.81 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 2.72 and a beta of 0.92. The company's fifty day moving average is $29.71 and its two-hundred day moving average is $29.17. CenterPoint Energy, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $32.34.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The utilities provider reported $0.31 EPS for the quarter, meeting analysts' consensus estimates of $0.31. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.88 billion. CenterPoint Energy had a return on equity of 9.73% and a net margin of 11.25%. During the same quarter in the prior year, the firm posted $0.40 EPS. On average, analysts expect that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current year.

CenterPoint Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.21 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.84 dividend on an annualized basis and a yield of 2.63%. This is a positive change from CenterPoint Energy's previous quarterly dividend of $0.20. CenterPoint Energy's dividend payout ratio (DPR) is 55.63%.

About CenterPoint Energy

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.