Allworth Financial LP Boosts Stake in CenterPoint Energy, Inc. $CNP

Allworth Financial LP increased its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 41.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,512 shares of the utilities provider’s stock after acquiring an additional 2,477 shares during the quarter. Allworth Financial LP’s holdings in CenterPoint Energy were worth $313,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC boosted its holdings in shares of CenterPoint Energy by 3.9% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 7,627 shares of the utilities provider’s stock worth $280,000 after purchasing an additional 286 shares during the last quarter. Fifth Third Bancorp lifted its position in CenterPoint Energy by 1.6% during the second quarter. Fifth Third Bancorp now owns 21,180 shares of the utilities provider’s stock worth $778,000 after buying an additional 342 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its position in CenterPoint Energy by 5.5% during the first quarter. Baader Bank Aktiengesellschaft now owns 7,582 shares of the utilities provider’s stock worth $272,000 after buying an additional 392 shares in the last quarter. Horizon Investments LLC boosted its stake in CenterPoint Energy by 4.9% during the first quarter. Horizon Investments LLC now owns 9,359 shares of the utilities provider’s stock worth $339,000 after buying an additional 440 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in CenterPoint Energy by 2.2% in the 2nd quarter. Bleakley Financial Group LLC now owns 21,377 shares of the utilities provider’s stock valued at $785,000 after buying an additional 469 shares in the last quarter. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Insider Activity

In other news, Director Phillip R. Smith sold 6,200 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $38.83, for a total transaction of $240,746.00. Following the sale, the director owned 65,577 shares of the company’s stock, valued at approximately $2,546,354.91. This represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNP. Scotiabank boosted their price target 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CenterPoint Energy in a research note on Wednesday, October 8th. Morgan Stanley boosted their target price on shares of CenterPoint Energy from $37.00 to $39.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Evercore ISI began coverage on shares of CenterPoint Energy in a report on Monday, October 6th. They set an “in-line” rating and a $42.00 price target for the company. Finally, UBS Group upped their price objective on CenterPoint Energy from $44.00 to $46.00 and gave the company a “buy” rating in a report on Friday, October 10th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.50.

CenterPoint Energy Stock Up 1.1%

Shares of NYSE CNP opened at $40.19 on Tuesday. The company has a quick ratio of 0.38, a current ratio of 0.51 and a debt-to-equity ratio of 1.76. The business’s 50 day moving average is $39.01 and its two-hundred day moving average is $37.90. CenterPoint Energy, Inc. has a 52-week low of $30.59 and a 52-week high of $40.50. The firm has a market cap of $26.24 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 2.79 and a beta of 0.60.

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

CenterPoint Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, November 20th. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. CenterPoint Energy’s dividend payout ratio is 55.70%.

CenterPoint Energy Company 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.