State of Alaska Department of Revenue raised its position in CenterPoint Energy, Inc. (NYSE:CNP – Free Report) by 2.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,376 shares of the utilities provider’s stock after acquiring an additional 2,050 shares during the period. State of Alaska Department of Revenue’s holdings in CenterPoint Energy were worth $2,767,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Curat Global LLC acquired a new position in CenterPoint Energy in the 1st quarter valued at approximately $25,000. J.Safra Asset Management Corp acquired a new position in CenterPoint Energy in the 4th quarter valued at approximately $28,000. Assetmark Inc. raised its holdings in CenterPoint Energy by 657.1% in the 4th quarter. Assetmark Inc. now owns 901 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 782 shares in the last quarter. VSM Wealth Advisory LLC acquired a new position in CenterPoint Energy in the 4th quarter valued at approximately $32,000. Finally, CoreCap Advisors LLC raised its holdings in CenterPoint Energy by 58.9% in the 4th quarter. CoreCap Advisors LLC now owns 1,079 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on CNP. Evercore ISI upped their price objective on CenterPoint Energy from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. JPMorgan Chase & Co. upped their price objective on CenterPoint Energy from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, May 19th. Argus upgraded CenterPoint Energy to a “hold” rating in a research note on Friday, April 4th. Morgan Stanley lowered their price objective on CenterPoint Energy from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 22nd. Finally, Scotiabank reiterated an “outperform” rating and issued a $40.00 price objective (up from $35.00) on shares of CenterPoint Energy in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $36.04.
CenterPoint Energy Stock Up 0.5%
NYSE CNP opened at $35.73 on Friday. The firm has a market cap of $23.32 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 2.63 and a beta of 0.59. CenterPoint Energy, Inc. has a one year low of $25.41 and a one year high of $39.31. The stock’s 50 day simple moving average is $37.23 and its 200 day simple moving average is $34.77. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.93 and a quick ratio of 0.79.
CenterPoint Energy (NYSE:CNP – Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.73 billion. CenterPoint Energy had a return on equity of 9.74% and a net margin of 10.80%. During the same quarter last year, the company earned $0.55 earnings per share. As a group, sell-side analysts forecast that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.
CenterPoint Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 15th were given a $0.22 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.46%. CenterPoint Energy’s payout ratio is 59.06%.
About CenterPoint Energy
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. 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.
Featured Stories
- Five stocks we like better than CenterPoint Energy
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- GE Aerospace Turns Engines Into Long-Term Profits
- Dividend Payout Ratio Calculator
- Smith & Wesson Stock Falls on Earnings Miss, Tariff Woes
- Stocks with Unusual Volume: How to Find Unusual Volume Stocks in Real Time
- Marvell’s New AI Chip Deals Capture Wall Street’s Attention
Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.