Massmutual Trust Co. FSB ADV trimmed its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP – Get Rating) by 25.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,067 shares of the utilities provider’s stock after selling 362 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in CenterPoint Energy were worth $32,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of CenterPoint Energy by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 73,506,201 shares of the utilities provider’s stock valued at $2,252,230,000 after acquiring an additional 1,502,900 shares during the period. BlackRock Inc. increased its stake in shares of CenterPoint Energy by 12.0% during the 4th quarter. BlackRock Inc. now owns 62,536,247 shares of the utilities provider’s stock worth $1,745,384,000 after purchasing an additional 6,679,825 shares in the last quarter. Capital International Investors increased its stake in shares of CenterPoint Energy by 3.3% during the 1st quarter. Capital International Investors now owns 47,378,541 shares of the utilities provider’s stock worth $1,451,708,000 after purchasing an additional 1,497,295 shares in the last quarter. State Street Corp increased its stake in shares of CenterPoint Energy by 10.0% during the 1st quarter. State Street Corp now owns 33,279,592 shares of the utilities provider’s stock worth $1,019,687,000 after purchasing an additional 3,035,409 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of CenterPoint Energy by 7.8% during the 1st quarter. Capital Research Global Investors now owns 29,065,249 shares of the utilities provider’s stock worth $890,559,000 after purchasing an additional 2,098,443 shares in the last quarter. 88.94% of the stock is currently owned by institutional investors and hedge funds.
CenterPoint Energy Stock Performance
NYSE:CNP opened at $32.46 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.88 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $20.43 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 5.95 and a beta of 0.86. The firm’s fifty day simple moving average is $31.53 and its 200 day simple moving average is $30.78. CenterPoint Energy, Inc. has a twelve month low of $24.33 and a twelve month high of $33.22.
CenterPoint Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th were given a $0.18 dividend. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Wednesday, August 17th. CenterPoint Energy’s dividend payout ratio is presently 29.63%.
Wall Street Analysts Forecast Growth
Several analysts have commented on CNP shares. Morgan Stanley lifted their target price 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. KeyCorp lowered their target price 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. Barclays lowered their target price 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. Finally, Evercore ISI lifted their target price on shares of CenterPoint Energy to $33.00 in a research note on Tuesday, August 9th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.08.
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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