Federated Hermes Inc. Has $36.37 Million Stock Holdings in CenterPoint Energy, Inc. $CNP

Federated Hermes Inc. decreased its position in CenterPoint Energy, Inc. (NYSE:CNP) by 6.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 937,355 shares of the utilities provider’s stock after selling 64,599 shares during the quarter. Federated Hermes Inc.’s holdings in CenterPoint Energy were worth $36,369,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CNP. Root Financial Partners LLC bought a new position in CenterPoint Energy in the 3rd quarter worth $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of CenterPoint Energy in the third quarter valued at about $26,000. First Horizon Corp bought a new position in shares of CenterPoint Energy in the third quarter worth about $30,000. Chung Wu Investment Group LLC bought a new position in shares of CenterPoint Energy in the second quarter worth about $29,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of CenterPoint Energy during the 2nd quarter worth about $33,000. 91.77% of the stock is owned by institutional investors.

CenterPoint Energy Trading Down 0.6%

Shares of CenterPoint Energy stock opened at $39.56 on Friday. CenterPoint Energy, Inc. has a 52-week low of $31.95 and a 52-week high of $40.50. The firm has a market capitalization of $25.83 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 2.35 and a beta of 0.59. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.51 and a quick ratio of 0.38. The company’s fifty day moving average price is $38.66 and its two-hundred day moving average price is $38.58.

CenterPoint Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 19th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, February 19th. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.3%. CenterPoint Energy’s payout ratio is presently 55.70%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CNP. BMO Capital Markets raised CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research 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 research report on Wednesday, January 21st. KeyCorp upgraded shares of CenterPoint Energy from a “sector weight” rating to an “overweight” rating and set a $41.00 target price for the company in a research note on Friday, December 12th. Barclays decreased their price target on shares of CenterPoint Energy from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CenterPoint Energy in a research report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $41.82.

Insider Buying and Selling

In other CenterPoint Energy news, Director Phillip R. Smith sold 6,200 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $38.83, for a total transaction of $240,746.00. Following the completion of the transaction, the director owned 65,577 shares in the company, valued at $2,546,354.91. This trade represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

CenterPoint Energy 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.