Russell Investments Group Ltd. Reduces Stock Position in CenterPoint Energy, Inc. (NYSE:CNP)

Russell Investments Group Ltd. lowered its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNPGet Rating) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,398,269 shares of the utilities provider’s stock after selling 113,518 shares during the quarter. Russell Investments Group Ltd. owned 0.22% of CenterPoint Energy worth $39,414,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of CenterPoint Energy by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 73,506,201 shares of the utilities provider’s stock worth $2,252,230,000 after buying an additional 1,502,900 shares during the period. State Street Corp lifted its holdings in shares of CenterPoint Energy by 2.7% in the 2nd quarter. State Street Corp now owns 34,175,736 shares of the utilities provider’s stock worth $1,010,918,000 after buying an additional 896,144 shares during the period. Deutsche Bank AG lifted its holdings in shares of CenterPoint Energy by 32.9% in the 2nd quarter. Deutsche Bank AG now owns 19,775,849 shares of the utilities provider’s stock worth $584,971,000 after buying an additional 4,899,990 shares during the period. Jennison Associates LLC lifted its holdings in shares of CenterPoint Energy by 3.4% in the 3rd quarter. Jennison Associates LLC now owns 8,548,433 shares of the utilities provider’s stock worth $240,895,000 after buying an additional 283,119 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of CenterPoint Energy by 68.2% in the 1st quarter. Invesco Ltd. now owns 7,638,179 shares of the utilities provider’s stock worth $234,036,000 after buying an additional 3,096,455 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

CenterPoint Energy Trading Up 0.6 %

Shares of NYSE:CNP opened at $30.19 on Wednesday. The business’s 50-day moving average is $30.43 and its 200 day moving average is $30.21. CenterPoint Energy, Inc. has a 1 year low of $25.03 and a 1 year high of $33.50. The firm has a market capitalization of $19.01 billion, a P/E ratio of 12.53, a P/E/G ratio of 5.71 and a beta of 0.86. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.89 and a quick ratio of 0.69.

CenterPoint Energy (NYSE:CNPGet Rating) last announced its earnings results on Tuesday, November 1st. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. CenterPoint Energy had a return on equity of 10.77% and a net margin of 17.67%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.74 billion. On average, research analysts predict that CenterPoint Energy, Inc. will post 1.39 earnings per share for the current fiscal year.

CenterPoint Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 9th. Stockholders of record on Thursday, February 16th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, February 15th. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.52%. CenterPoint Energy’s dividend payout ratio is currently 29.88%.

Analyst Ratings Changes

CNP has been the subject of several research reports. Guggenheim cut CenterPoint Energy from a “buy” rating to a “neutral” rating and upped their target price for the stock from $31.00 to $32.00 in a report on Monday. KeyCorp decreased their price objective on CenterPoint Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, October 20th. Morgan Stanley upped their price objective on CenterPoint Energy from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, December 15th. StockNews.com cut CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, January 18th. Finally, Wells Fargo & Company upped their price objective on CenterPoint Energy to $35.00 in a research note on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.20.

Insider Activity

In other news, Director Barry T. Smitherman acquired 8,005 shares of the business’s stock in a transaction dated Monday, November 7th. The shares were acquired at an average cost of $28.38 per share, with a total value of $227,181.90. Following the completion of the acquisition, the director now owns 20,534 shares of the company’s stock, valued at $582,754.92. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.

CenterPoint Energy Company Profile

(Get Rating)

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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