Charles Schwab Investment Management Inc. Acquires 63,804 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Charles Schwab Investment Management Inc. grew its holdings in CenterPoint Energy, Inc. (NYSE:CNPFree Report) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,528,741 shares of the utilities provider’s stock after buying an additional 63,804 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.56% of CenterPoint Energy worth $94,747,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisor Partners II LLC grew its position in shares of CenterPoint Energy by 1.2% during the 1st quarter. Advisor Partners II LLC now owns 29,370 shares of the utilities provider’s stock worth $865,000 after buying an additional 357 shares during the period. Moors & Cabot Inc. grew its position in shares of CenterPoint Energy by 0.7% during the 3rd quarter. Moors & Cabot Inc. now owns 52,633 shares of the utilities provider’s stock worth $1,413,000 after buying an additional 368 shares during the period. Wetherby Asset Management Inc. grew its position in shares of CenterPoint Energy by 3.9% during the 1st quarter. Wetherby Asset Management Inc. now owns 11,100 shares of the utilities provider’s stock worth $327,000 after buying an additional 412 shares during the period. First Republic Investment Management Inc. boosted its stake in CenterPoint Energy by 2.2% during the 1st quarter. First Republic Investment Management Inc. now owns 19,444 shares of the utilities provider’s stock worth $596,000 after acquiring an additional 427 shares during the last quarter. Finally, MidWestOne Financial Group Inc. boosted its stake in CenterPoint Energy by 3.6% during the 1st quarter. MidWestOne Financial Group Inc. now owns 13,205 shares of the utilities provider’s stock worth $405,000 after acquiring an additional 465 shares during the last quarter. Institutional investors and hedge funds own 88.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. KeyCorp lifted their price objective on shares of CenterPoint Energy from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, January 4th. JPMorgan Chase & Co. cut their price target on shares of CenterPoint Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 17th. Barclays lifted their price target on shares of CenterPoint Energy from $27.00 to $28.00 and gave the company an “underweight” rating in a research note on Monday, January 22nd. Evercore ISI lowered shares of CenterPoint Energy from an “outperform” rating to an “in-line” rating and lifted their price target for the company from $29.00 to $30.00 in a research note on Tuesday, January 23rd. Finally, Morgan Stanley cut their price target on shares of CenterPoint Energy from $28.00 to $27.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.73.

Read Our Latest Stock Report on CNP

Insider Buying and Selling

In other news, CFO Christopher A. Foster bought 5,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were acquired at an average cost of $28.10 per share, for a total transaction of $140,500.00. Following the completion of the acquisition, the chief financial officer now owns 147,693 shares in the company, valued at $4,150,173.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by corporate insiders.

CenterPoint Energy Stock Performance

Shares of CNP stock opened at $27.53 on Monday. The company’s fifty day simple moving average is $28.43 and its 200-day simple moving average is $28.09. 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 firm has a market cap of $17.38 billion, a PE ratio of 22.02, a P/E/G ratio of 2.25 and a beta of 0.93. CenterPoint Energy, Inc. has a 12 month low of $25.42 and a 12 month high of $31.43.

CenterPoint Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, February 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.91%. CenterPoint Energy’s payout ratio is 64.00%.

CenterPoint Energy Profile

(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.

See Also

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

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