Brookstone Capital Management Has $301,000 Position in CenterPoint Energy, Inc. (NYSE:CNP)

Brookstone Capital Management lessened its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 15.6% during the first quarter, Holdings Channel reports. The fund owned 10,553 shares of the utilities provider’s stock after selling 1,944 shares during the quarter. Brookstone Capital Management’s holdings in CenterPoint Energy were worth $301,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC lifted its position in shares of CenterPoint Energy by 163.7% during the 4th quarter. Global Retirement Partners LLC now owns 894 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 555 shares during the period. ICA Group Wealth Management LLC acquired a new position in CenterPoint Energy during the fourth quarter worth $43,000. Western Pacific Wealth Management LP bought a new position in shares of CenterPoint Energy in the fourth quarter valued at $48,000. Bay Harbor Wealth Management LLC bought a new position in shares of CenterPoint Energy in the fourth quarter valued at $49,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of CenterPoint Energy by 73.1% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,094 shares of the utilities provider’s stock valued at $60,000 after buying an additional 884 shares in the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.

CenterPoint Energy Stock Performance

NYSE CNP opened at $30.46 on Wednesday. CenterPoint Energy, Inc. has a 52-week low of $25.42 and a 52-week high of $31.57. The company has a 50-day simple moving average of $30.10 and a 200 day simple moving average of $28.80. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.25. The company has a market capitalization of $19.49 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 2.73 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. CenterPoint Energy had a net margin of 11.03% and a return on equity of 10.57%. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter last year, the company posted $0.50 earnings per share. On average, research analysts predict that CenterPoint Energy, Inc. will post 1.62 EPS for the current year.

CenterPoint Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.80 annualized dividend and a dividend yield of 2.63%. CenterPoint Energy’s payout ratio is 56.34%.

Insider Transactions at CenterPoint Energy

In other news, Director Barry T. Smitherman sold 5,670 shares of CenterPoint Energy stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $29.42, for a total value of $166,811.40. Following the completion of the transaction, the director now owns 21,203 shares in the company, valued at $623,792.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

CNP has been the topic of a number of recent research reports. BMO Capital Markets raised their price objective on shares of CenterPoint Energy from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, June 26th. Barclays raised their price objective on shares of CenterPoint Energy from $28.00 to $29.00 and gave the company an “underweight” rating in a research note on Thursday, March 14th. Scotiabank dropped their price objective on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. KeyCorp raised their price objective on shares of CenterPoint Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, Morgan Stanley dropped their price objective on shares of CenterPoint Energy from $31.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.00.

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.