Envestnet Portfolio Solutions Inc. Sells 2,072 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Envestnet Portfolio Solutions Inc. trimmed its position in CenterPoint Energy, Inc. (NYSE:CNP) by 17.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,835 shares of the utilities provider’s stock after selling 2,072 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in CenterPoint Energy were worth $356,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CNP. Wealthspan Partners LLC acquired a new position in CenterPoint Energy during the 1st quarter valued at about $227,000. State of Alaska Department of Revenue boosted its stake in CenterPoint Energy by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 76,376 shares of the utilities provider’s stock valued at $2,767,000 after purchasing an additional 2,050 shares during the last quarter. AA Financial Advisors LLC acquired a new position in CenterPoint Energy during the 1st quarter valued at about $217,000. Blackston Financial Advisory Group LLC boosted its stake in CenterPoint Energy by 14.2% during the 1st quarter. Blackston Financial Advisory Group LLC now owns 7,736 shares of the utilities provider’s stock valued at $280,000 after purchasing an additional 962 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its stake in CenterPoint Energy by 8.8% during the 1st quarter. QRG Capital Management Inc. now owns 19,913 shares of the utilities provider’s stock valued at $721,000 after purchasing an additional 1,615 shares during the last quarter. 91.77% of the stock is owned by institutional investors.

CenterPoint Energy Price Performance

CenterPoint Energy stock opened at $36.41 on Friday. CenterPoint Energy, Inc. has a 12 month low of $25.41 and a 12 month high of $39.31. The company has a current ratio of 0.93, a quick ratio of 0.79 and a debt-to-equity ratio of 1.86. The business’s 50 day simple moving average is $37.16 and its 200 day simple moving average is $34.94. The company has a market cap of $23.76 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 2.68 and a beta of 0.59.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). CenterPoint Energy had a net margin of 10.80% and a return on equity of 9.74%. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter in the previous year, the company posted $0.55 EPS. Sell-side analysts forecast that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

CenterPoint Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.42%. CenterPoint Energy’s payout ratio is 59.06%.

Analyst Ratings Changes

A number of research firms have issued reports on CNP. Morgan Stanley cut their price target on CenterPoint Energy from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, May 22nd. JPMorgan Chase & Co. boosted their target price on CenterPoint Energy from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, May 19th. Scotiabank restated an “outperform” rating and issued a $40.00 target price (up previously from $35.00) on shares of CenterPoint Energy in a research note on Friday, April 25th. Barclays upgraded CenterPoint Energy from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $30.00 to $37.00 in a research note on Tuesday, April 22nd. Finally, BMO Capital Markets boosted their target price on CenterPoint Energy from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, March 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $36.04.

CenterPoint Energy Profile

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.