61,730 Shares in CenterPoint Energy, Inc. (NYSE:CNP) Acquired by Neo Ivy Capital Management

Neo Ivy Capital Management acquired a new stake in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 61,730 shares of the utilities provider's stock, valued at approximately $1,816,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CNP. Rothschild Investment LLC purchased a new position in shares of CenterPoint Energy during the 2nd quarter worth about $33,000. First Horizon Advisors Inc. raised its holdings in shares of CenterPoint Energy by 51.3% in the 3rd 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 in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of CenterPoint Energy during the 2nd quarter worth approximately $36,000. Kimelman & Baird LLC bought a new position in shares of CenterPoint Energy during the 2nd quarter worth approximately $43,000. Finally, Blue Trust Inc. grew its position in CenterPoint Energy by 459.0% during the 2nd quarter. Blue Trust Inc. now owns 1,554 shares of the utilities provider's stock worth $44,000 after purchasing an additional 1,276 shares during the last quarter. 91.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Scotiabank upped their price objective on shares of CenterPoint Energy from $28.00 to $30.00 and gave the company a "sector perform" rating in a report on Tuesday, October 29th. Wells Fargo & Company upped their price objective on shares of CenterPoint Energy from $28.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. Bank of America assumed coverage on shares of CenterPoint Energy in a report on Thursday, September 12th. They set a "neutral" rating and a $29.00 price target on the stock. Morgan Stanley reduced their price objective on shares of CenterPoint Energy from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Friday, November 22nd. Finally, UBS Group upgraded shares of CenterPoint Energy from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $31.00 to $37.00 in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $30.58.

CenterPoint Energy Stock Up 0.2 %

NYSE:CNP traded up $0.07 during trading hours on Wednesday, hitting $31.45. The stock had a trading volume of 1,754,744 shares, compared to its average volume of 5,263,487. CenterPoint Energy, Inc. has a 1-year low of $25.41 and a 1-year high of $33.00. The business has a 50 day simple moving average of $30.53 and a two-hundred day simple moving average of $29.36. The company has a current ratio of 1.11, a quick ratio of 0.92 and a debt-to-equity ratio of 1.87. The company has a market cap of $20.50 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 2.74 and a beta of 0.96.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The utilities provider reported $0.31 earnings per share for the quarter, hitting analysts' consensus estimates of $0.31. The firm had revenue of $1.86 billion for 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 last year, the business posted $0.40 EPS. Analysts predict that CenterPoint Energy, Inc. will post 1.62 EPS for the current year.

CenterPoint Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid 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 2.67%. This is a boost from CenterPoint Energy's previous quarterly dividend of $0.20. CenterPoint Energy's dividend payout ratio (DPR) is currently 55.63%.

CenterPoint Energy Company Profile

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.