Fiduciary Family Office LLC Has $793,000 Position in CenterPoint Energy, Inc. (NYSE:CNP)

Fiduciary Family Office LLC lowered its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 8.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,962 shares of the utilities provider’s stock after selling 2,635 shares during the quarter. Fiduciary Family Office LLC’s holdings in CenterPoint Energy were worth $793,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of CenterPoint Energy by 38.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,602,621 shares of the utilities provider’s stock valued at $302,070,000 after purchasing an additional 2,961,464 shares in the last quarter. Railway Pension Investments Ltd acquired a new stake in shares of CenterPoint Energy during the 2nd quarter valued at $63,758,000. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of CenterPoint Energy by 46.6% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,666,563 shares of the utilities provider’s stock valued at $144,570,000 after acquiring an additional 1,484,079 shares in the last quarter. Maple Brown Abbott Ltd acquired a new stake in shares of CenterPoint Energy during the 2nd quarter valued at $42,548,000. Finally, Merewether Investment Management LP acquired a new stake in shares of CenterPoint Energy during the 2nd quarter valued at $31,188,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Scotiabank raised their target price on CenterPoint Energy from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lowered CenterPoint Energy from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $32.00 to $29.00 in a research report on Friday, August 2nd. Bank of America started coverage on CenterPoint Energy in a research report on Thursday, September 12th. They issued a “neutral” rating and a $29.00 price objective for the company. BMO Capital Markets reissued a “market perform” rating and issued a $28.00 price objective on shares of CenterPoint Energy in a research report on Monday, August 26th. Finally, Wells Fargo & Company lifted their price objective on CenterPoint Energy from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.09.

CenterPoint Energy Trading Up 0.7 %

Shares of NYSE:CNP traded up $0.21 during midday trading on Tuesday, hitting $29.23. 1,331,492 shares of the stock traded hands, compared to its average volume of 5,348,100. The stock has a market capitalization of $19.05 billion, a PE ratio of 19.29, a P/E/G ratio of 2.48 and a beta of 0.92. The business’s 50 day moving average is $28.84 and its two-hundred day moving average is $29.02. The company has a quick ratio of 0.92, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. CenterPoint Energy, Inc. has a one year low of $25.41 and a one year high of $31.57.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Monday, October 28th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31. CenterPoint Energy had a net margin of 11.25% and a return on equity of 9.73%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. As a group, research analysts forecast that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current year.

CenterPoint Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a $0.21 dividend. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, November 21st. CenterPoint Energy’s dividend payout ratio is presently 52.98%.

About CenterPoint Energy

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.