Cwm LLC Sells 689 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Cwm LLC trimmed its position in CenterPoint Energy, Inc. (NYSE:CNP) by 6.0% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 10,738 shares of the utilities provider’s stock after selling 689 shares during the period. Cwm LLC’s holdings in CenterPoint Energy were worth $316,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new stake in shares of CenterPoint Energy during the 1st quarter worth approximately $25,000. Olistico Wealth LLC acquired a new stake in CenterPoint Energy during the 2nd quarter worth $33,000. Rothschild Investment LLC bought a new stake in shares of CenterPoint Energy during the 2nd quarter valued at $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 acquired a new position in shares of CenterPoint Energy in the 1st quarter valued at $35,000. 91.77% of the stock is owned by institutional investors and hedge funds.

CenterPoint Energy Price Performance

Shares of NYSE CNP opened at $30.09 on Tuesday. The company has a fifty day moving average price of $28.13 and a 200 day moving average price of $28.89. The firm has a market cap of $19.25 billion, a PE ratio of 21.20, a PEG ratio of 2.56 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 1-year low of $25.41 and a 1-year high of $31.57.

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

CenterPoint Energy Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, November 21st. 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 dividend yield of 2.79%. CenterPoint Energy’s dividend payout ratio (DPR) is 59.15%.

Wall Street Analysts Forecast Growth

CNP has been the subject of a number of recent analyst reports. Bank of America assumed coverage on CenterPoint Energy in a report on Thursday, September 12th. They issued a “neutral” rating and a $29.00 price objective for the company. Wells Fargo & Company increased their price target on shares of 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 restated a “market perform” rating and set a $28.00 price objective on shares of CenterPoint Energy in a report on Monday, August 26th. Morgan Stanley increased their target price on shares of CenterPoint Energy from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. cut shares of CenterPoint Energy from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $32.00 to $29.00 in a research report on Friday, August 2nd. 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.com, CenterPoint Energy presently has an average rating of “Hold” and a consensus price target of $29.91.

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.