Rhumbline Advisers Has $31.62 Million Stake in CenterPoint Energy, Inc. (NYSE:CNP)

Rhumbline Advisers grew its position in CenterPoint Energy, Inc. (NYSE:CNPGet Rating) by 13.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,069,103 shares of the utilities provider’s stock after buying an additional 128,547 shares during the period. Rhumbline Advisers owned 0.17% of CenterPoint Energy worth $31,624,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNP. Canton Hathaway LLC acquired a new stake in shares of CenterPoint Energy in the 2nd quarter valued at $27,000. Covestor Ltd increased its stake in shares of CenterPoint Energy by 176.7% in the 1st quarter. Covestor Ltd now owns 891 shares of the utilities provider’s stock valued at $27,000 after buying an additional 569 shares during the period. CoreCap Advisors LLC acquired a new stake in shares of CenterPoint Energy in the 2nd quarter valued at $29,000. Legacy CG LLC acquired a new stake in shares of CenterPoint Energy in the 2nd quarter valued at $36,000. Finally, CX Institutional acquired a new stake in shares of CenterPoint Energy in the 2nd quarter valued at $37,000. 88.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CenterPoint Energy

In other CenterPoint Energy news, Director Barry T. Smitherman purchased 8,005 shares of the stock in a transaction on Monday, November 7th. The shares were purchased at an average price of $28.38 per share, with a total value of $227,181.90. Following the completion of the transaction, the director now directly owns 20,534 shares in the company, valued at $582,754.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CNP. KeyCorp reduced their price target on CenterPoint Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Wells Fargo & Company reduced their price target on CenterPoint Energy from $35.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 19th. Guggenheim reduced their price target on CenterPoint Energy from $35.00 to $30.00 in a research report on Monday, October 24th. StockNews.com lowered CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Thursday, November 3rd. Finally, Evercore ISI lifted their target price on CenterPoint Energy to $33.00 in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, CenterPoint Energy has an average rating of “Moderate Buy” and a consensus price target of $31.08.

CenterPoint Energy Price Performance

NYSE:CNP opened at $30.81 on Thursday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.69 and a current ratio of 0.89. The stock’s 50-day simple moving average is $28.77 and its 200 day simple moving average is $30.09. The company has a market cap of $19.40 billion, a P/E ratio of 12.78, a P/E/G ratio of 6.21 and a beta of 0.85. CenterPoint Energy, Inc. has a 52-week low of $25.03 and a 52-week high of $33.50.

CenterPoint Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, November 17th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Wednesday, November 16th. CenterPoint Energy’s dividend payout ratio is currently 29.88%.

About CenterPoint Energy

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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 assets in the wholesale power market.

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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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