Transcend Capital Advisors LLC acquired a new position in CenterPoint Energy, Inc. (NYSE:CNP – Get Rating) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 9,029 shares of the utilities provider’s stock, valued at approximately $267,000.
Several other hedge funds have also recently made changes to their positions in the business. Qube Research & Technologies Ltd bought a new stake in CenterPoint Energy in the 4th quarter valued at about $645,000. Ensign Peak Advisors Inc increased its position in CenterPoint Energy by 121.9% in the 4th quarter. Ensign Peak Advisors Inc now owns 126,347 shares of the utilities provider’s stock valued at $3,526,000 after buying an additional 69,408 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in CenterPoint Energy by 8.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,195,771 shares of the utilities provider’s stock valued at $89,194,000 after buying an additional 253,776 shares in the last quarter. Geode Capital Management LLC increased its position in CenterPoint Energy by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 11,258,173 shares of the utilities provider’s stock valued at $313,392,000 after buying an additional 632,106 shares in the last quarter. Finally, American International Group Inc. increased its position in CenterPoint Energy by 4.7% in the 4th quarter. American International Group Inc. now owns 185,403 shares of the utilities provider’s stock valued at $5,175,000 after buying an additional 8,343 shares in the last quarter. 88.94% of the stock is owned by institutional investors.
CenterPoint Energy Price Performance
Shares of NYSE CNP opened at $31.95 on Thursday. CenterPoint Energy, Inc. has a twelve month low of $24.50 and a twelve month high of $33.22. The stock’s 50 day moving average price is $31.64 and its 200-day moving average price is $30.80. The company has a market capitalization of $20.11 billion, a PE ratio of 13.15, a PEG ratio of 6.02 and a beta of 0.86. The company has a quick ratio of 0.88, a current ratio of 1.03 and a debt-to-equity ratio of 1.43.
CenterPoint Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 18th were paid a $0.18 dividend. 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 annualized dividend and a yield of 2.25%. CenterPoint Energy’s dividend payout ratio is presently 29.63%.
Analysts Set New Price Targets
CNP has been the subject of a number of research analyst reports. Morgan Stanley boosted their target price on CenterPoint Energy from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, August 23rd. Barclays decreased their target price on CenterPoint Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday, July 18th. KeyCorp cut their price target on CenterPoint Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. Finally, Evercore ISI lifted their price target on CenterPoint Energy to $33.00 in a research note on Tuesday, August 9th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.08.
CenterPoint Energy Company 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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