Bessemer Group Inc. Has $2.29 Million Stock Holdings in CenterPoint Energy, Inc. $CNP

Bessemer Group Inc. raised its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 38.5% in the first quarter, Holdings Channel reports. The firm owned 53,141 shares of the utilities provider’s stock after acquiring an additional 14,762 shares during the quarter. Bessemer Group Inc.’s holdings in CenterPoint Energy were worth $2,293,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. New Age Alpha Advisors LLC bought a new stake in shares of CenterPoint Energy during the 4th quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of CenterPoint Energy by 49.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the utilities provider’s stock valued at $27,000 after buying an additional 235 shares during the last quarter. Rothschild Investment LLC grew its stake in shares of CenterPoint Energy by 165.0% in the fourth quarter. Rothschild Investment LLC now owns 734 shares of the utilities provider’s stock valued at $28,000 after buying an additional 457 shares in the last quarter. Rexford Capital Inc. bought a new position in shares of CenterPoint Energy in the first quarter valued at $39,000. Finally, DV Equities LLC acquired a new position in CenterPoint Energy during the fourth quarter worth $35,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wall Street Zen lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. JPMorgan Chase & Co. boosted their price objective on shares of CenterPoint Energy from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Wells Fargo & Company restated an “overweight” rating and set a $48.00 price objective on shares of CenterPoint Energy in a research note on Tuesday, April 21st. BTIG Research assumed coverage on shares of CenterPoint Energy in a report on Tuesday, June 30th. They issued a “neutral” rating on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of CenterPoint Energy in a research note on Monday, June 15th. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $45.46.

CenterPoint Energy Stock Performance

CNP opened at $43.71 on Thursday. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.16 and a quick ratio of 1.04. The business has a fifty day simple moving average of $43.06 and a 200 day simple moving average of $42.24. CenterPoint Energy, Inc. has a 1 year low of $36.59 and a 1 year high of $45.22. The company has a market capitalization of $28.60 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 2.53 and a beta of 0.46.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Thursday, April 23rd. The utilities provider reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.02). CenterPoint Energy had a return on equity of 10.56% and a net margin of 11.38%.The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the business earned $0.53 EPS. Research analysts expect that CenterPoint Energy, Inc. will post 1.91 EPS for the current year.

CenterPoint Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.23. CenterPoint Energy’s payout ratio is presently 56.44%.

CenterPoint Energy Company 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.