Edgestream Partners L.P. Raises Position in CenterPoint Energy, Inc. $CNP

Edgestream Partners L.P. lifted its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 128.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 191,933 shares of the utilities provider’s stock after acquiring an additional 107,735 shares during the period. Edgestream Partners L.P.’s holdings in CenterPoint Energy were worth $7,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. New York State Common Retirement Fund increased its holdings in CenterPoint Energy by 1.2% in the 2nd quarter. New York State Common Retirement Fund now owns 483,064 shares of the utilities provider’s stock worth $17,748,000 after acquiring an additional 5,500 shares in the last quarter. Schroder Investment Management Group lifted its stake in shares of CenterPoint Energy by 6.2% during the 2nd quarter. Schroder Investment Management Group now owns 586,766 shares of the utilities provider’s stock valued at $21,558,000 after buying an additional 34,415 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in CenterPoint Energy in the 2nd quarter worth $32,114,000. Norges Bank bought a new stake in CenterPoint Energy during the second quarter valued at about $313,456,000. Finally, Level Four Advisory Services LLC raised its holdings in CenterPoint Energy by 28.3% during the second quarter. Level Four Advisory Services LLC now owns 10,365 shares of the utilities provider’s stock valued at $381,000 after acquiring an additional 2,285 shares during the period. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Analyst Ratings Changes

CNP has been the topic of several recent analyst reports. Wells Fargo & Company initiated coverage on CenterPoint Energy in a research note on Monday, October 27th. They set an “overweight” rating and a $44.00 target price on the stock. UBS Group upped their target price on shares of CenterPoint Energy from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Barclays boosted their price target on shares of CenterPoint Energy from $40.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. Morgan Stanley lifted their target price on CenterPoint Energy from $37.00 to $39.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Finally, Mizuho set a $42.00 price target on CenterPoint Energy in a research note on Tuesday, October 21st. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, CenterPoint Energy presently has a consensus rating of “Hold” and a consensus target price of $41.50.

Insiders Place Their Bets

In other CenterPoint Energy news, Director Phillip R. Smith sold 6,200 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $38.83, for a total transaction of $240,746.00. Following the transaction, the director owned 65,577 shares in the company, valued at $2,546,354.91. The trade was a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is owned by company insiders.

CenterPoint Energy Stock Down 2.2%

Shares of NYSE:CNP opened at $39.12 on Tuesday. The company has a 50-day moving average price of $39.34 and a 200 day moving average price of $38.03. The company has a current ratio of 0.51, a quick ratio of 0.38 and a debt-to-equity ratio of 1.76. CenterPoint Energy, Inc. has a 12 month low of $30.59 and a 12 month high of $40.50. The company has a market cap of $25.54 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 2.79 and a beta of 0.60.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Thursday, October 23rd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.04 billion. CenterPoint Energy had a return on equity of 10.25% and a net margin of 11.37%.During the same period in the prior year, the business posted $0.31 earnings per share. As a group, equities research analysts predict that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

CenterPoint Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 20th will be given a $0.22 dividend. The ex-dividend date is Thursday, November 20th. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. CenterPoint Energy’s dividend payout ratio (DPR) is currently 55.70%.

CenterPoint Energy Profile

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. 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.