CenterPoint Energy, Inc. $CNP Shares Purchased by Ethic Inc.

Ethic Inc. boosted its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 83.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 126,539 shares of the utilities provider’s stock after purchasing an additional 57,410 shares during the quarter. Ethic Inc.’s holdings in CenterPoint Energy were worth $4,657,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pictet Asset Management Holding SA boosted its position in shares of CenterPoint Energy by 10.8% during the 3rd quarter. Pictet Asset Management Holding SA now owns 7,195,979 shares of the utilities provider’s stock valued at $264,812,000 after purchasing an additional 701,167 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of CenterPoint Energy by 4.0% in the 3rd quarter. Parallel Advisors LLC now owns 7,016 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 273 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of CenterPoint Energy by 7.9% in the 3rd quarter. Alps Advisors Inc. now owns 77,387 shares of the utilities provider’s stock worth $2,848,000 after purchasing an additional 5,680 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in shares of CenterPoint Energy by 11.3% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 11,678 shares of the utilities provider’s stock worth $430,000 after purchasing an additional 1,186 shares in the last quarter. Finally, Heritage Family Offices LLP acquired a new stake in CenterPoint Energy during the third quarter valued at approximately $73,000. 91.77% of the stock is owned by institutional investors and hedge funds.

CenterPoint Energy Trading Up 1.0%

NYSE:CNP opened at $41.22 on Wednesday. The stock has a fifty day simple moving average of $39.43 and a 200 day simple moving average of $41.61. The firm has a market capitalization of $27.32 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 2.70 and a beta of 0.43. CenterPoint Energy, Inc. has a 1-year low of $36.37 and a 1-year high of $45.26. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.02.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.03. CenterPoint Energy had a return on equity of 11.16% and a net margin of 11.76%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the previous year, the company earned $0.50 EPS. Sell-side analysts forecast that CenterPoint Energy, Inc. will post 1.91 earnings per share for the current year.

CenterPoint Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, November 19th. CenterPoint Energy’s payout ratio is presently 54.86%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CNP. Wolfe Research restated an “outperform” rating and set a $49.00 target price on shares of CenterPoint Energy in a report on Wednesday, July 29th. HSBC initiated coverage on shares of CenterPoint Energy in a research report on Thursday, October 22nd. They issued a “buy” rating and a $44.00 price target on the stock. Royal Bank Of Canada began coverage on CenterPoint Energy in a report on Tuesday, September 15th. They issued a “sector perform” rating and a $40.00 price target on the stock. Truist Financial cut their price objective on CenterPoint Energy from $46.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Finally, JPMorgan Chase & Co. reduced their price objective on CenterPoint Energy from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, October 13th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, CenterPoint Energy presently has an average rating of “Moderate Buy” and an average price target of $44.29.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc. is a regulated energy delivery company based in Houston, Texas. Its main businesses are electric transmission and distribution and natural gas distribution, connecting customers to energy and maintaining the infrastructure that delivers it. The company’s electric utility operations serve the Houston area, while its natural gas utilities serve customers in Texas, Indiana, Minnesota and Ohio. CenterPoint Energy’s services include operating and maintaining power lines, gas distribution systems and related utility infrastructure.