32,844 Shares in CenterPoint Energy, Inc. (NYSE:CNP) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new stake in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 32,844 shares of the utilities provider's stock, valued at approximately $948,000.

A number of other large investors also recently added to or reduced their stakes in CNP. Strategic Investment Solutions Inc. IL bought a new stake in shares of CenterPoint Energy in the 2nd quarter valued at about $36,000. Cetera Investment Advisers increased its stake in CenterPoint Energy by 3.3% during the 2nd quarter. Cetera Investment Advisers now owns 91,197 shares of the utilities provider's stock worth $2,825,000 after purchasing an additional 2,871 shares in the last quarter. Heartland Bank & Trust Co increased its stake in CenterPoint Energy by 4.5% during the 2nd quarter. Heartland Bank & Trust Co now owns 11,571 shares of the utilities provider's stock worth $358,000 after purchasing an additional 493 shares in the last quarter. Truist Financial Corp increased its stake in CenterPoint Energy by 32.7% during the 2nd quarter. Truist Financial Corp now owns 79,876 shares of the utilities provider's stock worth $2,475,000 after purchasing an additional 19,686 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new stake in CenterPoint Energy during the 2nd quarter worth approximately $43,000. 91.77% of the stock is currently owned by institutional investors and hedge funds.

CenterPoint Energy Stock Performance

CenterPoint Energy stock traded up $0.08 during mid-day trading on Friday, hitting $29.57. 4,674,894 shares of the company's stock traded hands, compared to its average volume of 5,410,811. The firm has a 50 day simple moving average of $27.73 and a two-hundred day simple moving average of $28.82. CenterPoint Energy, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $31.57. The stock has a market cap of $18.98 billion, a price-to-earnings ratio of 18.37, a P/E/G ratio of 2.56 and a beta of 0.92. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.20 and a quick ratio of 0.99.

CenterPoint Energy (NYSE:CNP - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.04. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the firm posted $0.28 EPS. On average, research analysts expect that CenterPoint Energy, Inc. will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.84%. This is an increase from CenterPoint Energy's previous quarterly dividend of $0.20. CenterPoint Energy's dividend payout ratio (DPR) is currently 49.69%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. KeyCorp cut CenterPoint Energy from an "overweight" rating to a "sector weight" rating in a research note on Friday, August 2nd. Morgan Stanley raised their price target on shares of CenterPoint Energy from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. Wells Fargo & Company cut shares of CenterPoint Energy from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $32.00 to $28.00 in a research note on Tuesday, August 13th. Scotiabank decreased their price target on shares of CenterPoint Energy from $29.00 to $28.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 20th. Finally, StockNews.com downgraded CenterPoint Energy from a "hold" rating to a "sell" rating in a report on Sunday, October 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $29.55.

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.