CenterPoint Energy, Inc. (NYSE:CNP) Stock Position Lifted by DnB Asset Management AS

DnB Asset Management AS boosted its stake in shares of CenterPoint Energy, Inc. (NYSE:CNPGet Rating) by 16.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 136,440 shares of the utilities provider’s stock after purchasing an additional 18,798 shares during the period. DnB Asset Management AS’s holdings in CenterPoint Energy were worth $4,036,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in CenterPoint Energy by 12.0% in the fourth quarter. BlackRock Inc. now owns 62,536,247 shares of the utilities provider’s stock worth $1,745,384,000 after acquiring an additional 6,679,825 shares in the last quarter. Deutsche Bank AG grew its position in CenterPoint Energy by 44.1% in the fourth quarter. Deutsche Bank AG now owns 10,384,446 shares of the utilities provider’s stock worth $289,831,000 after acquiring an additional 3,175,721 shares in the last quarter. Invesco Ltd. grew its position in CenterPoint Energy by 68.2% in the first quarter. Invesco Ltd. now owns 7,638,179 shares of the utilities provider’s stock worth $234,036,000 after acquiring an additional 3,096,455 shares in the last quarter. State Street Corp grew its position in CenterPoint Energy by 10.0% in the first quarter. State Street Corp now owns 33,279,592 shares of the utilities provider’s stock worth $1,019,687,000 after acquiring an additional 3,035,409 shares in the last quarter. Finally, Capital Research Global Investors grew its position in CenterPoint Energy by 7.8% in the first quarter. Capital Research Global Investors now owns 29,065,249 shares of the utilities provider’s stock worth $890,559,000 after acquiring an additional 2,098,443 shares in the last quarter. 88.94% of the stock is owned by hedge funds and other institutional investors.

CenterPoint Energy Trading Up 1.3 %

Shares of CNP stock opened at $32.46 on Tuesday. CenterPoint Energy, Inc. has a 52-week low of $24.33 and a 52-week high of $33.22. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 5.95 and a beta of 0.86. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.88 and a current ratio of 1.03. The firm has a fifty day moving average of $31.53 and a 200-day moving average of $30.78.

CenterPoint Energy (NYSE:CNPGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the business posted $0.36 earnings per share. On average, equities research analysts forecast that CenterPoint Energy, Inc. will post 1.38 earnings per share for the current fiscal year.

CenterPoint Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th were issued a $0.18 dividend. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, August 17th. This represents a $0.72 annualized dividend and a dividend yield of 2.22%. CenterPoint Energy’s dividend payout ratio is presently 29.63%.

Analyst Ratings Changes

Several research firms have commented on CNP. Barclays decreased 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 report on Monday, July 18th. Morgan Stanley upped their price objective on shares of CenterPoint Energy from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, August 23rd. Evercore ISI upped their price objective on shares of CenterPoint Energy to $33.00 in a report on Tuesday, August 9th. Finally, KeyCorp decreased their price objective on shares of CenterPoint Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $32.08.

CenterPoint Energy Profile

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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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