Rhumbline Advisers Has $31.62 Million Position in CenterPoint Energy, Inc. (NYSE:CNP)

Rhumbline Advisers grew its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNPGet Rating) by 13.7% in the second quarter, HoldingsChannel.com reports. The fund owned 1,069,103 shares of the utilities provider’s stock after acquiring an additional 128,547 shares during the quarter. Rhumbline Advisers’ holdings in CenterPoint Energy were worth $31,624,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Canton Hathaway LLC bought a new position in shares of CenterPoint Energy during the 2nd quarter worth about $27,000. Covestor Ltd raised its stake in CenterPoint Energy by 176.7% during the 1st quarter. Covestor Ltd now owns 891 shares of the utilities provider’s stock worth $27,000 after buying an additional 569 shares during the period. CoreCap Advisors LLC bought a new position in CenterPoint Energy in the second quarter worth approximately $29,000. Legacy CG LLC acquired a new stake in CenterPoint Energy in the second quarter valued at approximately $36,000. Finally, CX Institutional acquired a new stake in CenterPoint Energy in the second quarter valued at approximately $37,000. 88.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CenterPoint Energy news, Director Barry T. Smitherman bought 8,005 shares of the firm’s stock in a transaction on Monday, November 7th. The shares were acquired at an average cost of $28.38 per share, for a total transaction of $227,181.90. Following the purchase, the director now directly owns 20,534 shares of the company’s stock, valued at $582,754.92. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

CenterPoint Energy Stock Performance

NYSE:CNP opened at $30.81 on Thursday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.69 and a current ratio of 0.89. CenterPoint Energy, Inc. has a 52-week low of $25.03 and a 52-week high of $33.50. The firm has a market cap of $19.40 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 6.21 and a beta of 0.85. The business’s fifty day moving average is $28.77 and its 200 day moving average is $30.09.

CenterPoint Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Shareholders of record on Thursday, November 17th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $0.72 dividend on an annualized basis and a yield of 2.34%. CenterPoint Energy’s dividend payout ratio is currently 29.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CNP shares. Wells Fargo & Company reduced their price objective on CenterPoint Energy from $35.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday, October 19th. Guggenheim reduced their price objective on CenterPoint Energy from $35.00 to $30.00 in a research note on Monday, October 24th. KeyCorp cut their target price on CenterPoint Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. StockNews.com cut CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Thursday, November 3rd. Finally, Evercore ISI lifted their target price on CenterPoint Energy to $33.00 in a research report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, CenterPoint Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.08.

CenterPoint Energy Profile

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CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as assets in the wholesale power market.

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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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