Private Advisor Group LLC Makes New Investment in CenterPoint Energy, Inc. (NYSE:CNP)

Private Advisor Group LLC bought a new position in shares of CenterPoint Energy, Inc. (NYSE:CNPFree Report) in the third quarter, HoldingsChannel.com reports. The firm bought 7,787 shares of the utilities provider’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Sei Investments Co. increased its stake in CenterPoint Energy by 5.9% in the second quarter. Sei Investments Co. now owns 668,223 shares of the utilities provider’s stock valued at $19,478,000 after acquiring an additional 37,181 shares during the period. HB Wealth Management LLC increased its position in shares of CenterPoint Energy by 6.7% during the third quarter. HB Wealth Management LLC now owns 20,662 shares of the utilities provider’s stock worth $555,000 after acquiring an additional 1,297 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in CenterPoint Energy by 5.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 206,573 shares of the utilities provider’s stock valued at $6,022,000 after acquiring an additional 9,857 shares in the last quarter. Inspire Advisors LLC lifted its stake in CenterPoint Energy by 12.8% in the 2nd quarter. Inspire Advisors LLC now owns 12,348 shares of the utilities provider’s stock valued at $360,000 after acquiring an additional 1,404 shares in the last quarter. Finally, Premier Fund Managers Ltd raised its stake in shares of CenterPoint Energy by 23.1% during the 2nd quarter. Premier Fund Managers Ltd now owns 80,000 shares of the utilities provider’s stock worth $2,298,000 after purchasing an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 88.96% of the company’s stock.

Insider Buying and Selling

In other news, CEO David J. Lesar purchased 37,000 shares of the stock in a transaction dated Monday, November 13th. The shares were purchased at an average cost of $27.12 per share, with a total value of $1,003,440.00. Following the acquisition, the chief executive officer now directly owns 37,000 shares of the company’s stock, valued at $1,003,440. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Christopher A. Foster bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were bought at an average cost of $28.10 per share, with a total value of $140,500.00. Following the acquisition, the chief financial officer now owns 147,693 shares in the company, valued at $4,150,173.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David J. Lesar bought 37,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was bought at an average cost of $27.12 per share, for a total transaction of $1,003,440.00. Following the completion of the acquisition, the chief executive officer now owns 37,000 shares in the company, valued at approximately $1,003,440. The disclosure for this purchase can be found here. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CNP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on CenterPoint Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, October 17th. Barclays increased their target price on CenterPoint Energy from $27.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday, January 22nd. KeyCorp increased their price target on CenterPoint Energy from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, January 4th. TheStreet raised CenterPoint Energy from a “c+” rating to a “b” rating in a research note on Tuesday, December 12th. Finally, BMO Capital Markets decreased their price target on CenterPoint Energy from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $30.73.

Read Our Latest Research Report on CNP

CenterPoint Energy Stock Performance

CenterPoint Energy stock opened at $27.57 on Thursday. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $17.40 billion, a P/E ratio of 22.06, a PEG ratio of 2.25 and a beta of 0.93. The stock’s 50 day moving average is $28.47 and its 200 day moving average is $28.17. CenterPoint Energy, Inc. has a twelve month low of $25.42 and a twelve month high of $31.43.

CenterPoint Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.90%. CenterPoint Energy’s payout ratio is currently 64.00%.

About CenterPoint Energy

(Free Report)

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 optimizes assets in the wholesale power market.

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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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