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

Envestnet Asset Management Inc. lowered its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 683,218 shares of the utilities provider’s stock after selling 21,879 shares during the period. Envestnet Asset Management Inc. owned 0.10% of CenterPoint Energy worth $26,509,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new stake in CenterPoint Energy in the 3rd quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of CenterPoint Energy during the 3rd quarter worth about $26,000. LRI Investments LLC grew its holdings in CenterPoint Energy by 107.9% in the third 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 period. First Horizon Corp purchased a new stake in CenterPoint Energy in the third quarter valued at approximately $30,000. Finally, Atlantic Union Bankshares Corp acquired a new position in CenterPoint Energy during the third quarter worth approximately $30,000. 91.77% of the stock is currently owned by institutional investors and hedge funds.

CenterPoint Energy Stock Up 1.5%

NYSE CNP opened at $41.65 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.51 and a debt-to-equity ratio of 1.76. CenterPoint Energy, Inc. has a fifty-two week low of $32.63 and a fifty-two week high of $42.10. The business has a 50 day moving average price of $38.87 and a two-hundred day moving average price of $38.81. The stock has a market cap of $27.19 billion, a PE ratio of 26.36, a P/E/G ratio of 2.43 and a beta of 0.59.

CenterPoint Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 19th will be paid a dividend of $0.23 per share. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, February 19th. This represents a $0.92 annualized dividend and a yield of 2.2%. CenterPoint Energy’s payout ratio is presently 55.70%.

Wall Street Analysts Forecast Growth

CNP has been the subject of several research reports. Barclays lowered their price objective on shares of CenterPoint Energy from $41.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Mizuho set a $42.00 target price on CenterPoint Energy in a report on Tuesday, October 21st. UBS Group dropped their price target on CenterPoint Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. 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 research note on Tuesday, January 13th. Finally, Scotiabank boosted their target price on CenterPoint Energy from $42.00 to $45.00 and gave the stock a “sector outperform” rating in a report on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $41.82.

CenterPoint Energy Company 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.