The Manufacturers Life Insurance Company Lowers Stake in CenterPoint Energy, Inc. (NYSE:CNP)

The Manufacturers Life Insurance Company lessened its position in shares of CenterPoint Energy, Inc. (NYSE:CNPFree Report) by 17.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,601,826 shares of the utilities provider’s stock after selling 336,108 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.25% of CenterPoint Energy worth $45,764,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CNP. Norges Bank purchased a new stake in shares of CenterPoint Energy in the fourth quarter worth about $94,750,000. Reaves W H & Co. Inc. boosted its position in shares of CenterPoint Energy by 391.0% in the fourth quarter. Reaves W H & Co. Inc. now owns 2,314,797 shares of the utilities provider’s stock worth $66,134,000 after buying an additional 1,843,333 shares during the period. Stack Financial Management Inc purchased a new stake in shares of CenterPoint Energy in the fourth quarter worth about $21,154,000. BNP Paribas Financial Markets boosted its position in shares of CenterPoint Energy by 290.7% in the fourth quarter. BNP Paribas Financial Markets now owns 699,782 shares of the utilities provider’s stock worth $19,993,000 after buying an additional 520,682 shares during the period. Finally, Invesco Ltd. boosted its position in shares of CenterPoint Energy by 5.7% in the third quarter. Invesco Ltd. now owns 8,239,922 shares of the utilities provider’s stock worth $221,242,000 after buying an additional 442,718 shares during the period. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNP. KeyCorp upped their target price on CenterPoint Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. 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. Barclays boosted their price target on CenterPoint Energy from $28.00 to $29.00 and gave the stock an “underweight” rating in a research note on Thursday, March 14th. Scotiabank cut their price objective on CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Finally, Mizuho restated a “neutral” rating and set a $29.00 price objective (down previously from $30.00) on shares of CenterPoint Energy in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.73.

Check Out Our Latest Stock Report on CNP

Insider Buying and Selling

In other CenterPoint Energy news, Director Barry T. Smitherman sold 5,670 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $29.42, for a total transaction of $166,811.40. Following the completion of the transaction, the director now directly owns 21,203 shares of the company’s stock, valued at approximately $623,792.26. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

CenterPoint Energy Stock Down 1.3 %

NYSE:CNP opened at $30.43 on Thursday. The firm has a market capitalization of $19.47 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 2.72 and a beta of 0.91. The stock has a 50 day moving average of $29.04 and a 200-day moving average of $28.48. CenterPoint Energy, Inc. has a 52 week low of $25.42 and a 52 week high of $31.43. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

CenterPoint Energy (NYSE:CNPGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. CenterPoint Energy had a return on equity of 10.57% and a net margin of 11.03%. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the prior year, the company posted $0.50 EPS. Analysts predict that CenterPoint Energy, Inc. will post 1.62 EPS for the current year.

CenterPoint Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 16th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Wednesday, May 15th. CenterPoint Energy’s dividend payout ratio (DPR) is 56.34%.

CenterPoint Energy Company 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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