Envestnet Asset Management Inc. Trims Stock Position in CenterPoint Energy, Inc. $CNP

Envestnet Asset Management Inc. lessened its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 705,097 shares of the utilities provider’s stock after selling 9,613 shares during the period. Envestnet Asset Management Inc. owned approximately 0.11% of CenterPoint Energy worth $25,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in CenterPoint Energy by 3.1% during the first quarter. Principal Financial Group Inc. now owns 864,175 shares of the utilities provider’s stock worth $31,309,000 after acquiring an additional 26,153 shares during the period. Nisa Investment Advisors LLC grew its position in shares of CenterPoint Energy by 5.6% in the first quarter. Nisa Investment Advisors LLC now owns 166,743 shares of the utilities provider’s stock valued at $6,041,000 after purchasing an additional 8,914 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of CenterPoint Energy in the first quarter valued at about $3,452,000. Jump Financial LLC grew its position in shares of CenterPoint Energy by 130.3% in the first quarter. Jump Financial LLC now owns 22,976 shares of the utilities provider’s stock valued at $832,000 after purchasing an additional 13,000 shares during the period. Finally, Ethos Financial Group LLC acquired a new stake in shares of CenterPoint Energy in the first quarter valued at about $257,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Stock Performance

CNP opened at $38.43 on Tuesday. The firm has a market capitalization of $25.09 billion, a PE ratio of 24.32, a PEG ratio of 2.79 and a beta of 0.57. CenterPoint Energy, Inc. has a twelve month low of $28.57 and a twelve month high of $40.50. The firm’s 50-day moving average price is $38.65 and its 200 day moving average price is $37.79. The company has a current ratio of 0.51, a quick ratio of 0.38 and a debt-to-equity ratio of 1.76.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Thursday, October 23rd. The utilities provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.04 billion. CenterPoint Energy had a net margin of 11.37% and a return on equity of 10.25%. During the same period in the previous year, the business posted $0.31 earnings per share. As a group, sell-side analysts expect that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.

CenterPoint Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, November 20th. CenterPoint Energy’s payout ratio is presently 55.70%.

Wall Street Analyst Weigh In

CNP has been the topic of several research analyst reports. Mizuho set a $42.00 target price on shares of CenterPoint Energy in a research report on Tuesday, October 21st. Wall Street Zen upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Evercore ISI initiated coverage on shares of CenterPoint Energy in a research report on Monday, October 6th. They issued an “in-line” rating and a $42.00 target price on the stock. Scotiabank lifted their target price on shares of CenterPoint Energy from $42.00 to $45.00 and gave the company a “sector outperform” rating in a research report on Friday, October 24th. Finally, BMO Capital Markets lifted their target price on shares of CenterPoint Energy from $39.00 to $41.00 and gave the company a “market perform” rating in a research report on Thursday, October 2nd. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, CenterPoint Energy currently has a consensus rating of “Hold” and a consensus target price of $41.50.

About CenterPoint Energy

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.