Envestnet Asset Management Inc. Increases Stock Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Envestnet Asset Management Inc. boosted its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 11.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 685,669 shares of the utilities provider’s stock after acquiring an additional 71,469 shares during the period. Envestnet Asset Management Inc. owned 0.11% of CenterPoint Energy worth $21,242,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CNP. Crewe Advisors LLC bought a new stake in shares of CenterPoint Energy during the 1st quarter valued at about $25,000. Rothschild Investment LLC purchased a new position in shares of CenterPoint Energy during the 2nd quarter worth approximately $33,000. Olistico Wealth LLC bought a new position in shares of CenterPoint Energy in the 2nd quarter worth approximately $33,000. FinTrust Capital Advisors LLC lifted its stake in shares of CenterPoint Energy by 60.3% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 452 shares during the period. Finally, Tobam bought a new stake in shares of CenterPoint Energy during the first quarter valued at approximately $35,000. 91.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CNP has been the subject of a number of research reports. Wells Fargo & Company downgraded CenterPoint Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $32.00 to $28.00 in a report on Tuesday, August 13th. BMO Capital Markets reissued a “market perform” rating and set a $28.00 price target on shares of CenterPoint Energy in a research report on Monday, August 26th. StockNews.com upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. Morgan Stanley lifted their target price on shares of CenterPoint Energy from $29.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Finally, Bank of America started coverage on CenterPoint Energy in a research note on Thursday, September 12th. They issued a “neutral” rating and a $29.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, CenterPoint Energy currently has a consensus rating of “Hold” and a consensus target price of $29.36.

CenterPoint Energy Stock Down 0.3 %

CenterPoint Energy stock opened at $28.17 on Monday. The firm has a market cap of $18.02 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.46 and a beta of 0.92. The company has a current ratio of 1.20, a quick ratio of 0.99 and a debt-to-equity ratio of 1.79. CenterPoint Energy, Inc. has a 12 month low of $25.41 and a 12 month high of $31.57. The stock has a fifty day simple moving average of $27.47 and a two-hundred day simple moving average of $28.68.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. During the same quarter in the previous year, the firm earned $0.28 EPS. Equities analysts predict that CenterPoint Energy, Inc. will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Thursday, August 15th. CenterPoint Energy’s dividend payout ratio is currently 56.34%.

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.