Park Avenue Securities LLC Takes Position in CenterPoint Energy, Inc. (NYSE:CNP)

Park Avenue Securities LLC acquired a new position in CenterPoint Energy, Inc. (NYSE:CNPGet Rating) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,491 shares of the utilities provider’s stock, valued at approximately $352,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new stake in shares of CenterPoint Energy during the 2nd quarter worth approximately $27,000. Covestor Ltd grew its holdings in CenterPoint Energy by 176.7% during the 1st quarter. Covestor Ltd now owns 891 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 569 shares during the period. CoreCap Advisors LLC bought a new stake in shares of CenterPoint Energy during the 2nd quarter valued at $29,000. Legacy CG LLC acquired a new position in shares of CenterPoint Energy in the 2nd quarter valued at $36,000. Finally, CX Institutional bought a new position in shares of CenterPoint Energy in the 2nd quarter worth $37,000. 90.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on CNP. Morgan Stanley upped their price objective on CenterPoint Energy from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, December 15th. StockNews.com cut CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, January 18th. Guggenheim reduced their price objective on shares of CenterPoint Energy from $35.00 to $30.00 in a research note on Monday, October 24th. KeyCorp lowered their target price on shares of CenterPoint Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, October 20th. Finally, Wells Fargo & Company lifted their price target on shares of CenterPoint Energy to $35.00 in a research report on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.00.

CenterPoint Energy Price Performance

CNP stock opened at $30.11 on Monday. The stock has a 50-day moving average price of $30.40 and a two-hundred day moving average price of $30.20. CenterPoint Energy, Inc. has a 1 year low of $25.03 and a 1 year high of $33.50. The stock has a market cap of $18.96 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 5.73 and a beta of 0.86. 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 (NYSE:CNPGet Rating) last posted its quarterly earnings data on Tuesday, November 1st. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.74 billion. CenterPoint Energy had a return on equity of 10.77% and a net margin of 17.67%. Equities analysts forecast that CenterPoint Energy, Inc. will post 1.39 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 9th. Stockholders of record on Thursday, February 16th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Wednesday, February 15th. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.18. CenterPoint Energy’s payout ratio is currently 29.88%.

Insider Buying and Selling

In other CenterPoint Energy news, Director Barry T. Smitherman purchased 8,005 shares of the stock in a transaction on Monday, November 7th. The shares were purchased at an average cost of $28.38 per share, for a total transaction of $227,181.90. Following the purchase, the director now owns 20,534 shares of the company’s stock, valued at $582,754.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

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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