CenterPoint Energy, Inc. (NYSE:CNP) Plans Quarterly Dividend of $0.20

CenterPoint Energy, Inc. (NYSE:CNPGet Free Report) declared a quarterly dividend on Thursday, December 14th, RTT News reports. Stockholders of record on Thursday, February 15th will be given a dividend of 0.20 per share by the utilities provider on Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Wednesday, February 14th.

CenterPoint Energy has increased its dividend by an average of 1.3% per year over the last three years and has raised its dividend every year for the last 3 years. CenterPoint Energy has a payout ratio of 46.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect CenterPoint Energy to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 49.1%.

CenterPoint Energy Trading Up 0.4 %

Shares of CNP stock opened at $27.53 on Monday. CenterPoint Energy has a fifty-two week low of $25.42 and a fifty-two week high of $31.43. The stock has a market capitalization of $17.38 billion, a P/E ratio of 22.02, a P/E/G ratio of 2.25 and a beta of 0.93. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 1.76. The stock has a 50-day simple moving average of $28.43 and a 200 day simple moving average of $28.09.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CNP. TheStreet raised CenterPoint Energy from a “c+” rating to a “b” rating in a research note on Tuesday, December 12th. Barclays increased their price objective on CenterPoint Energy from $27.00 to $28.00 and gave the company an “underweight” rating in a report on Monday, January 22nd. BMO Capital Markets lowered their target price on CenterPoint Energy from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, October 16th. KeyCorp raised their price objective on CenterPoint Energy from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. Finally, Evercore ISI downgraded CenterPoint Energy from an “outperform” rating to an “in-line” rating and raised their price objective for the stock from $29.00 to $30.00 in a research report on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, CenterPoint Energy has a consensus rating of “Hold” and an average target price of $30.73.

View Our Latest Research Report on CNP

Insider Activity

In other news, CFO Christopher A. Foster bought 5,000 shares of the stock in a transaction dated Wednesday, November 29th. The stock was bought at an average cost of $28.10 per share, with a total value of $140,500.00. Following the purchase, the chief financial officer now owns 147,693 shares of the company’s stock, valued at $4,150,173.30. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On CenterPoint Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Partners II LLC increased its holdings in CenterPoint Energy by 1.2% in the first quarter. Advisor Partners II LLC now owns 29,370 shares of the utilities provider’s stock valued at $865,000 after purchasing an additional 357 shares during the last quarter. Wetherby Asset Management Inc. increased its holdings in CenterPoint Energy by 3.9% in the first quarter. Wetherby Asset Management Inc. now owns 11,100 shares of the utilities provider’s stock valued at $327,000 after purchasing an additional 412 shares during the last quarter. First Republic Investment Management Inc. increased its holdings in CenterPoint Energy by 2.2% in the first quarter. First Republic Investment Management Inc. now owns 19,444 shares of the utilities provider’s stock valued at $596,000 after purchasing an additional 427 shares during the last quarter. MidWestOne Financial Group Inc. increased its holdings in CenterPoint Energy by 3.6% in the first quarter. MidWestOne Financial Group Inc. now owns 13,205 shares of the utilities provider’s stock valued at $405,000 after purchasing an additional 465 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of CenterPoint Energy by 6.7% in the first quarter. Rockefeller Capital Management L.P. now owns 8,338 shares of the utilities provider’s stock worth $243,000 after acquiring an additional 526 shares in the last quarter. Institutional investors own 88.96% of the company’s stock.

CenterPoint Energy Company Profile

(Get Free Report)

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. 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.

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Dividend History for CenterPoint Energy (NYSE:CNP)

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