AE Wealth Management LLC Boosts Stake in CenterPoint Energy, Inc. $CNP

AE Wealth Management LLC increased its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 3.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 486,551 shares of the utilities provider’s stock after buying an additional 15,754 shares during the quarter. AE Wealth Management LLC owned about 0.07% of CenterPoint Energy worth $18,878,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Root Financial Partners LLC purchased a new position in shares of CenterPoint Energy during the third quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in CenterPoint Energy in the 3rd quarter valued at $26,000. LRI Investments LLC raised its position in CenterPoint Energy by 107.9% in the 3rd quarter. LRI Investments LLC now owns 684 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 355 shares during the last quarter. First Horizon Corp acquired a new stake in CenterPoint Energy during the 3rd quarter worth $30,000. Finally, Chung Wu Investment Group LLC purchased a new position in CenterPoint Energy during the 2nd quarter worth $29,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

CenterPoint Energy Price Performance

Shares of CNP opened at $39.56 on Friday. CenterPoint Energy, Inc. has a twelve month low of $31.95 and a twelve month high of $40.50. The stock’s 50 day moving average is $38.66 and its two-hundred day moving average is $38.58. The firm has a market capitalization of $25.83 billion, a PE ratio of 25.04, a P/E/G ratio of 2.35 and a beta of 0.59. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 19th will be issued a dividend of $0.23 per share. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, February 19th. CenterPoint Energy’s dividend payout ratio is currently 55.70%.

Insider Transactions at CenterPoint Energy

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

Wall Street Analyst Weigh In

CNP has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of CenterPoint Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Scotiabank boosted their price target on CenterPoint Energy from $42.00 to $45.00 and gave the company a “sector outperform” rating in a research report on Friday, October 24th. Wall Street Zen downgraded CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Sunday, January 25th. Barclays lowered their target price on CenterPoint Energy from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Finally, Morgan Stanley reissued an “underperform” rating and issued a $37.00 target price on shares of CenterPoint Energy in a report on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $41.82.

CenterPoint Energy Profile

CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.