Pathstone Holdings LLC Has $2.24 Million Stake in CenterPoint Energy, Inc. (NYSE:CNP)

Pathstone Holdings LLC reduced its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 27.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 76,104 shares of the utilities provider’s stock after selling 29,435 shares during the quarter. Pathstone Holdings LLC’s holdings in CenterPoint Energy were worth $2,239,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. grew its stake in shares of CenterPoint Energy by 34.0% during the 1st quarter. Advisors Asset Management Inc. now owns 35,723 shares of the utilities provider’s stock worth $1,018,000 after acquiring an additional 9,066 shares in the last quarter. Bayesian Capital Management LP bought a new position in CenterPoint Energy in the first quarter valued at $627,000. B. Riley Wealth Advisors Inc. increased its stake in CenterPoint Energy by 6.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 18,311 shares of the utilities provider’s stock valued at $492,000 after buying an additional 1,184 shares during the last quarter. iA Global Asset Management Inc. lifted its position in CenterPoint Energy by 10.7% during the 1st quarter. iA Global Asset Management Inc. now owns 25,921 shares of the utilities provider’s stock worth $738,000 after buying an additional 2,510 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. boosted its stake in shares of CenterPoint Energy by 11.4% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 8,792 shares of the utilities provider’s stock worth $250,000 after buying an additional 900 shares during the last quarter. 91.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CNP has been the topic of several analyst reports. KeyCorp lowered CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. BMO Capital Markets reiterated a “market perform” rating and set a $28.00 price objective on shares of CenterPoint Energy in a research note on Monday, August 26th. Morgan Stanley decreased their target price on shares of CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Bank of America initiated coverage on shares of CenterPoint Energy in a research report on Thursday, September 12th. They set a “neutral” rating and a $29.00 price target on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, CenterPoint Energy presently has a consensus rating of “Hold” and a consensus target price of $30.00.

CenterPoint Energy Trading Up 0.2 %

Shares of NYSE:CNP opened at $32.54 on Wednesday. CenterPoint Energy, Inc. has a 12-month low of $25.41 and a 12-month high of $32.65. The business has a 50 day moving average of $29.79 and a 200-day moving average of $29.18. The company has a quick ratio of 0.92, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. The stock has a market cap of $21.21 billion, a PE ratio of 21.55, a P/E/G ratio of 2.77 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Monday, October 28th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.88 billion. CenterPoint Energy had a return on equity of 9.73% and a net margin of 11.25%. During the same period in the previous year, the company posted $0.40 EPS. As a group, equities research analysts forecast that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current year.

CenterPoint Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.58%. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, November 21st. CenterPoint Energy’s dividend payout ratio (DPR) is currently 55.63%.

CenterPoint Energy Profile

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.