CenterPoint Energy, Inc. (NYSE:CNP) Shares Sold by Cadence Bank

Cadence Bank cut its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 3.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,531 shares of the utilities provider’s stock after selling 385 shares during the period. Cadence Bank’s holdings in CenterPoint Energy were worth $369,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CNP. Assenagon Asset Management S.A. raised its holdings in CenterPoint Energy by 185.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 235,223 shares of the utilities provider’s stock valued at $7,287,000 after buying an additional 152,878 shares during the period. Baillie Gifford & Co. increased its position in shares of CenterPoint Energy by 18.7% during the second quarter. Baillie Gifford & Co. now owns 78,838 shares of the utilities provider’s stock valued at $2,442,000 after acquiring an additional 12,422 shares during the last quarter. Bank of Montreal Can raised its stake in shares of CenterPoint Energy by 13.4% in the 2nd quarter. Bank of Montreal Can now owns 1,052,237 shares of the utilities provider’s stock valued at $32,630,000 after acquiring an additional 124,529 shares during the period. Swiss National Bank lifted its holdings in shares of CenterPoint Energy by 1.3% in the 3rd quarter. Swiss National Bank now owns 1,898,800 shares of the utilities provider’s stock worth $55,863,000 after acquiring an additional 24,400 shares during the last quarter. Finally, ING Groep NV purchased a new position in shares of CenterPoint Energy during the 3rd quarter worth approximately $2,564,000. 91.77% of the stock is currently owned by institutional investors and hedge funds.

CenterPoint Energy Stock Performance

NYSE:CNP opened at $32.66 on Thursday. The firm has a market capitalization of $21.29 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 2.82 and a beta of 0.92. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.92. The business’s fifty day moving average price is $29.88 and its 200 day moving average price is $29.20. CenterPoint Energy, Inc. has a 12 month low of $25.41 and a 12 month high of $32.86.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Monday, October 28th. The utilities provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.88 billion. CenterPoint Energy had a return on equity of 9.73% and a net margin of 11.25%. During the same quarter last year, the company earned $0.40 EPS. On average, sell-side analysts anticipate that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current fiscal year.

CenterPoint Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.21 dividend. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, November 21st. This represents a $0.84 annualized dividend and a dividend yield of 2.57%. CenterPoint Energy’s dividend payout ratio is presently 55.63%.

Analyst Upgrades and Downgrades

CNP has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. BMO Capital Markets reissued a “market perform” rating and set a $28.00 target price on shares of CenterPoint Energy in a research note on Monday, August 26th. Bank of America assumed coverage on CenterPoint Energy in a research report on Thursday, September 12th. They issued a “neutral” rating and a $29.00 target price for the company. Morgan Stanley reduced their price target on shares of CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Finally, StockNews.com cut shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, CenterPoint Energy currently has a consensus rating of “Hold” and an average price target of $30.00.

CenterPoint Energy Company 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.