TD Asset Management Inc Acquires 9,384 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

TD Asset Management Inc raised its holdings in CenterPoint Energy, Inc. (NYSE:CNPFree Report) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 228,898 shares of the utilities provider’s stock after acquiring an additional 9,384 shares during the period. TD Asset Management Inc’s holdings in CenterPoint Energy were worth $6,540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. grew its position in CenterPoint Energy by 302.6% in the fourth quarter. Pacer Advisors Inc. now owns 159,772 shares of the utilities provider’s stock valued at $4,565,000 after acquiring an additional 120,085 shares during the last quarter. Wells Fargo & Company MN grew its position in CenterPoint Energy by 36.2% in the fourth quarter. Wells Fargo & Company MN now owns 433,039 shares of the utilities provider’s stock valued at $12,372,000 after acquiring an additional 115,029 shares during the last quarter. Raymond James & Associates grew its position in CenterPoint Energy by 27.0% in the fourth quarter. Raymond James & Associates now owns 1,209,630 shares of the utilities provider’s stock valued at $34,559,000 after acquiring an additional 256,820 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in CenterPoint Energy by 312.6% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 114,316 shares of the utilities provider’s stock valued at $3,266,000 after acquiring an additional 86,613 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of CenterPoint Energy during the fourth quarter valued at about $399,000. Institutional investors own 91.77% of the company’s stock.

Insider Buying and Selling at CenterPoint Energy

In other CenterPoint Energy news, Director Barry T. Smitherman sold 5,670 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $29.42, for a total value of $166,811.40. Following the transaction, the director now directly owns 21,203 shares of the company’s stock, valued at $623,792.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNP. Mizuho reissued a “neutral” rating and set a $29.00 price target (down from $30.00) on shares of CenterPoint Energy in a research note on Wednesday, February 21st. KeyCorp lifted their price target on CenterPoint Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Morgan Stanley lifted their price target on CenterPoint Energy from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. Guggenheim cut their price target on CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Finally, StockNews.com raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, CenterPoint Energy presently has an average rating of “Hold” and an average target price of $30.73.

Check Out Our Latest Research Report on CNP

CenterPoint Energy Price Performance

CenterPoint Energy stock opened at $30.84 on Wednesday. The stock’s 50 day moving average is $29.04 and its 200 day moving average is $28.48. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.25 and a quick ratio of 1.06. The firm has a market cap of $19.73 billion, a P/E ratio of 21.71, a P/E/G ratio of 2.71 and a beta of 0.91. CenterPoint Energy, Inc. has a one year low of $25.42 and a one year high of $31.43.

CenterPoint Energy (NYSE:CNPGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. CenterPoint Energy had a return on equity of 10.57% and a net margin of 11.03%. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the firm earned $0.50 earnings per share. As a group, research analysts expect that CenterPoint Energy, Inc. will post 1.62 EPS for the current year.

CenterPoint Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, May 15th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 56.34%.

CenterPoint Energy Profile

(Free Report)

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.

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

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