Pathstone Holdings LLC Sells 29,435 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Pathstone Holdings LLC lowered its position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 27.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 76,104 shares of the utilities provider's stock after selling 29,435 shares during the period. Pathstone Holdings LLC's holdings in CenterPoint Energy were worth $2,239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Railway Pension Investments Ltd bought a new stake in CenterPoint Energy in the second quarter valued at approximately $63,758,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of CenterPoint Energy by 46.6% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,666,563 shares of the utilities provider's stock valued at $144,570,000 after purchasing an additional 1,484,079 shares during the last quarter. Maple Brown Abbott Ltd acquired a new stake in shares of CenterPoint Energy during the second quarter worth $42,548,000. Merewether Investment Management LP bought a new position in CenterPoint Energy during the second quarter worth $31,188,000. Finally, Teilinger Capital Ltd. acquired a new position in CenterPoint Energy in the third quarter valued at $26,478,000. Institutional investors and hedge funds own 91.77% of the company's stock.

Wall Street Analysts Forecast Growth

CNP has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on CenterPoint Energy from $28.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Bank of America initiated coverage on CenterPoint Energy in a research note on Thursday, September 12th. They issued a "neutral" rating and a $29.00 price target on the stock. BMO Capital Markets reiterated a "market perform" rating and issued a $28.00 price objective on shares of CenterPoint Energy in a research note on Monday, August 26th. JPMorgan Chase & Co. lowered shares of CenterPoint Energy from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $32.00 to $29.00 in a research note on Friday, August 2nd. Finally, Morgan Stanley decreased their price target on shares of CenterPoint Energy from $32.00 to $31.00 and set an "equal weight" rating for the company in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $30.00.

CenterPoint Energy Stock Up 0.2 %

Shares of NYSE:CNP opened at $32.54 on Wednesday. The stock has a market cap of $21.21 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 2.82 and a beta of 0.92. The business's 50 day moving average is $29.79 and its 200 day moving average is $29.18. CenterPoint Energy, Inc. has a 12-month low of $25.41 and a 12-month high of $32.65. The company has a quick ratio of 0.92, a current ratio of 1.11 and a debt-to-equity ratio of 1.87.

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

CenterPoint Energy Increases Dividend

The firm also recently announced 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 represents a $0.84 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Thursday, November 21st. This is an increase from CenterPoint Energy's previous quarterly dividend of $0.20. CenterPoint Energy's payout ratio is presently 55.63%.

CenterPoint Energy 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.