CenterPoint Energy, Inc. (CNP) to Issue Quarterly Dividend of $0.20 on March 14th

CenterPoint Energy, Inc. (NYSE:CNPGet Free Report) declared a quarterly dividend on Thursday, December 14th, RTT News reports. Shareholders of record on Thursday, February 15th will be paid a dividend of 0.20 per share by the utilities provider on Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Wednesday, February 14th.

CenterPoint Energy has increased its dividend by an average of 1.3% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. CenterPoint Energy has a payout ratio of 46.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CenterPoint Energy to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 49.1%.

CenterPoint Energy Stock Up 0.4 %

Shares of CenterPoint Energy stock opened at $27.53 on Monday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.57 and a current ratio of 0.78. The stock has a market capitalization of $17.38 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 2.25 and a beta of 0.93. CenterPoint Energy has a 52-week low of $25.42 and a 52-week high of $31.43. The company has a 50-day simple moving average of $28.43 and a two-hundred day simple moving average of $28.09.

Insider Buying and Selling at CenterPoint Energy

In other CenterPoint Energy news, CFO Christopher A. Foster bought 5,000 shares of CenterPoint Energy stock in a transaction on Wednesday, November 29th. The stock was acquired at an average cost of $28.10 per share, with a total value of $140,500.00. Following the completion of the acquisition, the chief financial officer now owns 147,693 shares in the company, valued at $4,150,173.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CenterPoint Energy

A number of hedge funds have recently modified their holdings of CNP. Private Advisor Group LLC bought a new position in shares of CenterPoint Energy in the first quarter worth approximately $440,000. Raymond James Trust N.A. boosted its position in shares of CenterPoint Energy by 59.0% in the first quarter. Raymond James Trust N.A. now owns 14,757 shares of the utilities provider’s stock worth $452,000 after purchasing an additional 5,475 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of CenterPoint Energy by 28.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,585,045 shares of the utilities provider’s stock worth $79,208,000 after purchasing an additional 572,884 shares during the period. Vontobel Holding Ltd. boosted its position in shares of CenterPoint Energy by 9.0% in the first quarter. Vontobel Holding Ltd. now owns 32,098 shares of the utilities provider’s stock worth $988,000 after purchasing an additional 2,642 shares during the period. Finally, Sei Investments Co. boosted its position in shares of CenterPoint Energy by 59.3% in the first quarter. Sei Investments Co. now owns 738,270 shares of the utilities provider’s stock worth $22,615,000 after purchasing an additional 274,696 shares during the period. 88.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CNP. Evercore ISI cut shares of CenterPoint Energy from an “outperform” rating to an “in-line” rating and boosted their price objective for the company from $29.00 to $30.00 in a report on Tuesday, January 23rd. TheStreet raised shares of CenterPoint Energy from a “c+” rating to a “b” rating in a report on Tuesday, December 12th. JPMorgan Chase & Co. decreased their price objective on shares of CenterPoint Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, October 17th. Morgan Stanley decreased their price objective on shares of CenterPoint Energy from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Tuesday, November 21st. Finally, BMO Capital Markets decreased their price objective on shares of CenterPoint Energy from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.73.

Read Our Latest Research Report on CenterPoint Energy

CenterPoint Energy Company 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 optimizes assets in the wholesale power market.

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Dividend History for CenterPoint Energy (NYSE:CNP)

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