Bank of Montreal Can Sells 209,140 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Bank of Montreal Can trimmed its stake in CenterPoint Energy, Inc. (NYSE:CNPGet Rating) by 21.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 761,587 shares of the utilities provider’s stock after selling 209,140 shares during the quarter. Bank of Montreal Can owned about 0.12% of CenterPoint Energy worth $22,406,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Forsta AP Fonden grew its holdings in CenterPoint Energy by 1,346.7% in the second quarter. Forsta AP Fonden now owns 217,000 shares of the utilities provider’s stock worth $6,419,000 after purchasing an additional 202,000 shares during the period. Clarius Group LLC acquired a new position in shares of CenterPoint Energy during the second quarter valued at about $226,000. Synovus Financial Corp grew its holdings in shares of CenterPoint Energy by 3.0% during the second quarter. Synovus Financial Corp now owns 15,526 shares of the utilities provider’s stock valued at $458,000 after buying an additional 445 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of CenterPoint Energy by 2.3% during the second quarter. Mutual of America Capital Management LLC now owns 85,823 shares of the utilities provider’s stock valued at $2,539,000 after buying an additional 1,896 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of CenterPoint Energy by 32.1% during the second quarter. Mackenzie Financial Corp now owns 53,837 shares of the utilities provider’s stock valued at $1,592,000 after buying an additional 13,072 shares during the last quarter. 88.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CNP shares. Wells Fargo & Company reduced their price objective on shares of CenterPoint Energy from $35.00 to $31.00 and set an “overweight” rating for the company in a report on Wednesday, October 19th. StockNews.com cut shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Thursday, November 3rd. Evercore ISI boosted their price target on shares of CenterPoint Energy to $33.00 in a report on Tuesday, August 9th. Morgan Stanley boosted their price target on shares of CenterPoint Energy from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 11th. Finally, Guggenheim cut their price target on shares of CenterPoint Energy from $35.00 to $30.00 in a report on Monday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, CenterPoint Energy currently has a consensus rating of “Moderate Buy” and an average target price of $31.08.

Insider Activity

In other CenterPoint Energy news, Director Barry T. Smitherman purchased 8,005 shares of the stock in a transaction dated Monday, November 7th. The shares were bought at an average price of $28.38 per share, with a total value of $227,181.90. Following the completion of the transaction, the director now directly owns 20,534 shares in the company, valued at approximately $582,754.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

CenterPoint Energy Stock Performance

NYSE CNP opened at $29.67 on Monday. The company’s 50 day moving average is $28.91 and its 200-day moving average is $30.10. CenterPoint Energy, Inc. has a 12-month low of $25.03 and a 12-month high of $33.50. The company has a quick ratio of 0.69, a current ratio of 0.89 and a debt-to-equity ratio of 1.46. The firm has a market cap of $18.68 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 6.06 and a beta of 0.85.

CenterPoint Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Wednesday, November 16th. CenterPoint Energy’s dividend payout ratio (DPR) is currently 29.88%.

CenterPoint Energy Profile

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CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as assets in the wholesale power market.

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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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