EverSource Wealth Advisors LLC raised its position in shares of CenterPoint Energy, Inc. (NYSE:CNP – Get Rating) by 70.7% in the first quarter, Holdings Channel reports. The firm owned 1,473 shares of the utilities provider’s stock after acquiring an additional 610 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in CenterPoint Energy were worth $44,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd increased its stake in CenterPoint Energy by 176.7% during the 1st quarter. Covestor Ltd now owns 891 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 569 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of CenterPoint Energy in the first quarter worth approximately $28,000. Standard Family Office LLC bought a new stake in shares of CenterPoint Energy in the fourth quarter worth approximately $36,000. City State Bank bought a new stake in shares of CenterPoint Energy in the fourth quarter worth approximately $38,000. Finally, Prospera Financial Services Inc bought a new stake in shares of CenterPoint Energy in the first quarter worth approximately $48,000. 88.94% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on CNP shares. Barclays reduced their price target on shares of CenterPoint Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. Evercore ISI lifted their price target on shares of CenterPoint Energy to $33.00 in a research note on Tuesday, August 9th. Morgan Stanley lifted their price target on shares of CenterPoint Energy from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 23rd. Finally, KeyCorp reduced their price target on shares of CenterPoint Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.08.
CenterPoint Energy Price Performance
CenterPoint Energy (NYSE:CNP – Get Rating) last released its earnings results on Tuesday, August 2nd. The utilities provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.27 by $0.04. CenterPoint Energy had a net margin of 18.16% and a return on equity of 10.92%. During the same period in the prior year, the firm earned $0.36 EPS. On average, equities analysts anticipate that CenterPoint Energy, Inc. will post 1.38 EPS for the current fiscal year.
CenterPoint Energy Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 18th were paid a dividend of $0.18 per share. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, August 17th. This represents a $0.72 dividend on an annualized basis and a yield of 2.25%. CenterPoint Energy’s dividend payout ratio is presently 29.63%.
CenterPoint Energy Profile
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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