Reaves W H & Co. Inc. Has $280.15 Million Position in CenterPoint Energy, Inc. $CNP

Reaves W H & Co. Inc. boosted its position in CenterPoint Energy, Inc. (NYSE:CNP) by 15.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,220,266 shares of the utilities provider’s stock after buying an additional 962,910 shares during the quarter. CenterPoint Energy makes up about 5.0% of Reaves W H & Co. Inc.’s holdings, making the stock its 4th largest position. Reaves W H & Co. Inc. owned about 1.11% of CenterPoint Energy worth $280,146,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CNP. Root Financial Partners LLC bought a new stake in CenterPoint Energy in the 3rd quarter valued at about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of CenterPoint Energy in the third quarter worth about $26,000. LRI Investments LLC increased its stake in shares of CenterPoint Energy by 107.9% in the third quarter. LRI Investments LLC now owns 684 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 355 shares in the last quarter. First Horizon Corp bought a new stake in shares of CenterPoint Energy in the third quarter valued at approximately $30,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of CenterPoint Energy during the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Stock Performance

Shares of CNP opened at $40.24 on Tuesday. CenterPoint Energy, Inc. has a 12-month low of $31.95 and a 12-month high of $40.80. The company has a current ratio of 0.51, a quick ratio of 0.38 and a debt-to-equity ratio of 1.76. The company has a market cap of $26.27 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 2.37 and a beta of 0.59. The stock has a 50-day moving average price of $38.70 and a 200-day moving average price of $38.76.

CenterPoint Energy Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. decreased their price objective on CenterPoint Energy from $43.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, December 11th. BMO Capital Markets raised CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a report on Tuesday, January 13th. Morgan Stanley reaffirmed an “underperform” rating and set a $37.00 target price on shares of CenterPoint Energy in a report on Wednesday, January 21st. Finally, UBS Group reduced their price objective on shares of CenterPoint Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $41.82.

About CenterPoint Energy

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.