CenterPoint Energy, Inc. (NYSE:CNP) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNPGet Rating) by 1,507.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,188 shares of the utilities provider’s stock after purchasing an additional 10,492 shares during the quarter. Lazard Asset Management LLC’s holdings in CenterPoint Energy were worth $330,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CNP. Canton Hathaway LLC acquired a new stake in shares of CenterPoint Energy during the second quarter worth $27,000. Covestor Ltd boosted its holdings in CenterPoint Energy by 176.7% in the first quarter. Covestor Ltd now owns 891 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 569 shares during the last quarter. CX Institutional acquired a new position in CenterPoint Energy in the second quarter valued at $37,000. Clear Street Markets LLC boosted its holdings in CenterPoint Energy by 1,223.9% in the second quarter. Clear Street Markets LLC now owns 1,315 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 1,432 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in CenterPoint Energy by 70.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,473 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 610 shares during the last quarter. Institutional investors and hedge funds own 88.94% of the company’s stock.

CenterPoint Energy Stock Up 1.6 %

Shares of NYSE CNP opened at $29.67 on Friday. CenterPoint Energy, Inc. has a 1 year low of $25.03 and a 1 year high of $33.50. The firm has a market cap of $18.68 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 5.96 and a beta of 0.85. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.69 and a current ratio of 0.89. The stock’s 50-day simple moving average is $28.91 and its 200-day simple moving average is $30.11.

CenterPoint Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Wednesday, November 16th. CenterPoint Energy’s payout ratio is 29.88%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Morgan Stanley lifted their target price on CenterPoint Energy from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 11th. KeyCorp cut their price objective on CenterPoint Energy from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Wells Fargo & Company cut their price objective on CenterPoint Energy from $35.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 19th. Evercore ISI raised their price objective on CenterPoint Energy to $33.00 in a research report on Tuesday, August 9th. Finally, Guggenheim cut their price objective on CenterPoint Energy from $35.00 to $30.00 in a research report on Monday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.08.

Insider Activity at CenterPoint Energy

In other news, Director Barry T. Smitherman acquired 8,005 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was purchased 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 directly owns 20,534 shares in the company, valued at $582,754.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is owned by corporate insiders.

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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