Truist Financial Corp Acquires 10,123 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Truist Financial Corp grew its holdings in CenterPoint Energy, Inc. (NYSE:CNPGet Rating) by 9.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 117,144 shares of the utilities provider’s stock after purchasing an additional 10,123 shares during the quarter. Truist Financial Corp’s holdings in CenterPoint Energy were worth $3,301,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Wipfli Financial Advisors LLC bought a new stake in shares of CenterPoint Energy in the 3rd quarter valued at about $116,000. Janney Montgomery Scott LLC grew its position in shares of CenterPoint Energy by 8.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 66,318 shares of the utilities provider’s stock worth $1,869,000 after buying an additional 5,369 shares during the last quarter. Fifth Third Bancorp grew its position in shares of CenterPoint Energy by 8.7% in the 3rd quarter. Fifth Third Bancorp now owns 15,249 shares of the utilities provider’s stock worth $430,000 after buying an additional 1,222 shares during the last quarter. Crumly & Associates Inc. grew its position in shares of CenterPoint Energy by 14.3% in the 3rd quarter. Crumly & Associates Inc. now owns 9,954 shares of the utilities provider’s stock worth $281,000 after buying an additional 1,244 shares during the last quarter. Finally, Texas Permanent School Fund grew its position in shares of CenterPoint Energy by 7.1% in the 3rd quarter. Texas Permanent School Fund now owns 89,071 shares of the utilities provider’s stock worth $2,510,000 after buying an additional 5,930 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

CenterPoint Energy Stock Performance

Shares of NYSE CNP opened at $31.31 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.69 and a debt-to-equity ratio of 1.46. CenterPoint Energy, Inc. has a 12 month low of $25.03 and a 12 month high of $33.50. The company has a 50 day simple moving average of $30.19 and a two-hundred day simple moving average of $30.17. The stock has a market cap of $19.71 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 5.92 and a beta of 0.86.

CenterPoint Energy (NYSE:CNPGet Rating) last posted its earnings results on Tuesday, November 1st. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. CenterPoint Energy had a net margin of 17.67% and a return on equity of 10.77%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.74 billion. As a group, analysts predict that CenterPoint Energy, Inc. will post 1.39 earnings per share for the current year.

CenterPoint Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 9th. Investors of record on Thursday, February 16th will be paid a $0.19 dividend. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Wednesday, February 15th. CenterPoint Energy’s payout ratio is currently 29.88%.

Analyst Ratings Changes

CNP has been the topic of a number of analyst reports. Guggenheim cut their price objective on shares of CenterPoint Energy from $35.00 to $30.00 in a research report on Monday, October 24th. StockNews.com raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, January 10th. KeyCorp dropped their target price on shares of CenterPoint Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Morgan Stanley boosted their target price on shares of CenterPoint Energy from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, December 15th. Finally, Wells Fargo & Company boosted their target price on shares of CenterPoint Energy to $35.00 in a research report on Wednesday, December 14th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Insider Activity at CenterPoint Energy

In other news, Director Barry T. Smitherman bought 8,005 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was purchased at an average cost of $28.38 per share, for a total transaction of $227,181.90. Following the purchase, the director now directly owns 20,534 shares in the company, valued at approximately $582,754.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.

CenterPoint Energy Company 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.

Further Reading

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

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