CenterPoint Energy, Inc. $CNP Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 26.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 252,123 shares of the utilities provider’s stock after buying an additional 52,326 shares during the period. Illinois Municipal Retirement Fund’s holdings in CenterPoint Energy were worth $9,782,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Root Financial Partners LLC purchased a new stake in shares of CenterPoint Energy during the third quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in CenterPoint Energy during the 3rd quarter valued at approximately $26,000. LRI Investments LLC grew its stake in CenterPoint Energy by 107.9% during the 3rd quarter. LRI Investments LLC now owns 684 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 355 shares in the last quarter. First Horizon Corp purchased a new stake in CenterPoint Energy during the 3rd quarter worth approximately $30,000. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of CenterPoint Energy in the 3rd quarter valued at approximately $30,000. 91.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CNP. Weiss Ratings reissued a “buy (b-)” rating on shares of CenterPoint Energy in a research report on Monday, December 29th. Barclays decreased 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 report on Thursday, January 15th. Wells Fargo & Company boosted their target price on shares of CenterPoint Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Mizuho set a $42.00 price target on shares of CenterPoint Energy in a research report on Tuesday, October 21st. Finally, UBS Group decreased 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. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, CenterPoint Energy currently has an average rating of “Hold” and an average target price of $41.82.

CenterPoint Energy Price Performance

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. The company’s 50-day moving average price is $38.87 and its 200 day moving average price is $38.81. CenterPoint Energy, Inc. has a fifty-two week low of $32.63 and a fifty-two week high of $42.10. The firm has a market cap of $27.19 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 2.43 and a beta of 0.59.

CenterPoint Energy Increases Dividend

The business also recently disclosed 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 represents a $0.92 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Thursday, February 19th. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.22. CenterPoint Energy’s dividend payout ratio (DPR) is currently 55.70%.

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.