Glenmede Trust Co. NA Sells 41,613 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Glenmede Trust Co. NA trimmed its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 50.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,518 shares of the utilities provider's stock after selling 41,613 shares during the period. Glenmede Trust Co. NA's holdings in CenterPoint Energy were worth $1,221,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in CenterPoint Energy by 185.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 235,223 shares of the utilities provider's stock worth $7,287,000 after acquiring an additional 152,878 shares in the last quarter. Baillie Gifford & Co. raised its stake in CenterPoint Energy by 18.7% during the second quarter. Baillie Gifford & Co. now owns 78,838 shares of the utilities provider's stock valued at $2,442,000 after buying an additional 12,422 shares in the last quarter. Bank of Montreal Can lifted its holdings in CenterPoint Energy by 13.4% during the 2nd quarter. Bank of Montreal Can now owns 1,052,237 shares of the utilities provider's stock worth $32,630,000 after buying an additional 124,529 shares during the last quarter. DRW Securities LLC acquired a new position in shares of CenterPoint Energy in the 3rd quarter worth approximately $908,000. Finally, Swiss National Bank increased its holdings in shares of CenterPoint Energy by 1.3% in the 3rd quarter. Swiss National Bank now owns 1,898,800 shares of the utilities provider's stock valued at $55,863,000 after acquiring an additional 24,400 shares during the last quarter. Institutional investors and hedge funds own 91.77% of the company's stock.

CenterPoint Energy Stock Up 0.4 %

Shares of NYSE CNP traded up $0.14 during mid-day trading on Tuesday, reaching $32.13. The company had a trading volume of 3,861,854 shares, compared to its average volume of 5,317,259. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.92 and a current ratio of 1.11. CenterPoint Energy, Inc. has a twelve month low of $25.41 and a twelve month high of $33.00. The stock's 50 day moving average is $30.21 and its 200-day moving average is $29.28. The stock has a market capitalization of $20.94 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 2.83 and a beta of 0.96.

CenterPoint Energy (NYSE:CNP - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The utilities provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $1.86 billion during the quarter, compared to analysts' expectations 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 previous year, the business posted $0.40 EPS. As a group, equities analysts anticipate that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current fiscal year.

CenterPoint Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.21 dividend. This is an increase from CenterPoint Energy's previous quarterly dividend of $0.20. The ex-dividend date is Thursday, November 21st. This represents a $0.84 annualized dividend and a dividend yield of 2.61%. CenterPoint Energy's dividend payout ratio (DPR) is presently 55.63%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CNP shares. Bank of America began coverage on shares of CenterPoint Energy in a research note on Thursday, September 12th. They set a "neutral" rating and a $29.00 target price for the company. UBS Group upgraded shares of CenterPoint Energy from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $31.00 to $37.00 in a research note on Tuesday. Scotiabank lifted their target price on CenterPoint Energy from $28.00 to $30.00 and gave the company a "sector perform" rating in a research note on Tuesday, October 29th. BMO Capital Markets reissued a "market perform" rating and issued a $28.00 price target on shares of CenterPoint Energy in a report on Monday, August 26th. Finally, StockNews.com cut CenterPoint Energy from a "hold" rating to a "sell" rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $30.58.

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.