Van ECK Associates Corp Purchases 5,785 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Van ECK Associates Corp grew its holdings in CenterPoint Energy, Inc. (NYSE:CNPFree Report) by 3.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 155,669 shares of the utilities provider’s stock after acquiring an additional 5,785 shares during the quarter. Van ECK Associates Corp’s holdings in CenterPoint Energy were worth $4,435,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CNP. Fifth Third Bancorp increased its stake in shares of CenterPoint Energy by 2.3% during the 1st quarter. Fifth Third Bancorp now owns 15,773 shares of the utilities provider’s stock worth $449,000 after purchasing an additional 357 shares during the last quarter. Cornercap Investment Counsel Inc. raised its stake in CenterPoint Energy by 1.0% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 40,811 shares of the utilities provider’s stock valued at $1,166,000 after buying an additional 406 shares during the period. First Trust Direct Indexing L.P. lifted its position in shares of CenterPoint Energy by 3.5% in the first quarter. First Trust Direct Indexing L.P. now owns 13,224 shares of the utilities provider’s stock valued at $377,000 after buying an additional 447 shares during the last quarter. CWM LLC boosted its stake in shares of CenterPoint Energy by 4.5% during the 1st quarter. CWM LLC now owns 10,872 shares of the utilities provider’s stock worth $310,000 after acquiring an additional 464 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of CenterPoint Energy by 26.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the utilities provider’s stock worth $68,000 after acquiring an additional 492 shares during the last quarter. 91.77% of the stock is owned by institutional investors.

Insider Activity at CenterPoint Energy

In other CenterPoint Energy news, Director Barry T. Smitherman sold 5,670 shares of CenterPoint Energy 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 completion of the sale, the director now directly owns 21,203 shares in the company, valued at $623,792.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CNP shares. Barclays raised their price target on CenterPoint Energy from $28.00 to $29.00 and gave the company an “underweight” rating in a report on Thursday, March 14th. KeyCorp lifted their price target on CenterPoint Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. StockNews.com lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Friday, June 7th. Morgan Stanley dropped their price target on CenterPoint Energy from $31.00 to $30.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Finally, Scotiabank cut their target price on CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.00.

Check Out Our Latest Research Report on CNP

CenterPoint Energy Price Performance

CenterPoint Energy stock opened at $30.49 on Friday. The stock’s 50 day moving average is $30.18 and its 200 day moving average is $28.83. CenterPoint Energy, Inc. has a one year low of $25.42 and a one year high of $31.57. The firm has a market cap of $19.51 billion, a P/E ratio of 21.47, a P/E/G ratio of 2.67 and a beta of 0.92. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.25 and a quick ratio of 1.06.

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, topping analysts’ consensus estimates of $0.53 by $0.02. CenterPoint Energy had a net margin of 11.03% and a return on equity of 10.57%. The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the previous year, the company earned $0.50 EPS. As a group, research analysts expect that CenterPoint Energy, Inc. will post 1.62 EPS for the current year.

CenterPoint Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Wednesday, May 15th. CenterPoint Energy’s dividend payout ratio 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.

See Also

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

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