CenterPoint Energy, Inc. $CNP Stake Lifted by Rhumbline Advisers

Rhumbline Advisers lifted its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 1.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,399,976 shares of the utilities provider’s stock after acquiring an additional 18,853 shares during the period. Rhumbline Advisers owned 0.21% of CenterPoint Energy worth $54,319,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CNP. Advisors Asset Management Inc. raised its holdings in shares of CenterPoint Energy by 3.7% during the third quarter. Advisors Asset Management Inc. now owns 63,297 shares of the utilities provider’s stock valued at $2,456,000 after buying an additional 2,279 shares during the last quarter. ABC Arbitrage SA bought a new position in CenterPoint Energy during the third quarter valued at about $238,000. Stratos Investment Management LLC boosted its stake in CenterPoint Energy by 3.9% during the third quarter. Stratos Investment Management LLC now owns 59,715 shares of the utilities provider’s stock valued at $2,317,000 after buying an additional 2,221 shares in the last quarter. MQS Management LLC bought a new stake in CenterPoint Energy in the third quarter worth about $543,000. Finally, Reaves W H & Co. Inc. lifted its stake in CenterPoint Energy by 15.4% during the third quarter. Reaves W H & Co. Inc. now owns 7,220,266 shares of the utilities provider’s stock valued at $280,146,000 after purchasing an additional 962,910 shares during the last quarter. 91.77% of the stock is currently owned by institutional investors.

CenterPoint Energy Stock Performance

CNP opened at $42.48 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.51 and a debt-to-equity ratio of 1.76. The stock’s 50 day moving average price is $38.95 and its two-hundred day moving average price is $38.85. The firm has a market capitalization of $27.74 billion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 2.47 and a beta of 0.59. CenterPoint Energy, Inc. has a 12-month low of $33.24 and a 12-month high of $42.57.

CenterPoint Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 19th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, February 19th. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.22. CenterPoint Energy’s dividend payout ratio is currently 55.70%.

Wall Street Analyst Weigh In

CNP has been the subject of several analyst reports. Wall Street Zen raised CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Scotiabank increased their target price on CenterPoint Energy from $42.00 to $45.00 and gave the company a “sector outperform” rating in a report on Friday, October 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of CenterPoint Energy in a research report on Monday, December 29th. Barclays lowered their price target on shares of CenterPoint Energy from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Finally, Wells Fargo & Company increased their price objective on CenterPoint Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $41.82.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.