Intech Investment Management LLC Has $9.62 Million Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Intech Investment Management LLC decreased its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 39.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 310,353 shares of the utilities provider’s stock after selling 198,204 shares during the period. Intech Investment Management LLC’s holdings in CenterPoint Energy were worth $9,615,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in CenterPoint Energy during the 4th quarter worth about $94,750,000. Price T Rowe Associates Inc. MD grew its holdings in shares of CenterPoint Energy by 38.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,602,621 shares of the utilities provider’s stock worth $302,070,000 after buying an additional 2,961,464 shares in the last quarter. Goldman Sachs Group Inc. raised its position in CenterPoint Energy by 96.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,958,562 shares of the utilities provider’s stock valued at $141,666,000 after buying an additional 2,428,640 shares during the last quarter. Railway Pension Investments Ltd bought a new stake in CenterPoint Energy in the 2nd quarter valued at approximately $63,758,000. Finally, Cohen & Steers Inc. boosted its position in CenterPoint Energy by 24.5% during the 4th quarter. Cohen & Steers Inc. now owns 8,030,646 shares of the utilities provider’s stock worth $229,436,000 after acquiring an additional 1,578,948 shares during the last quarter. 91.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on CNP shares. KeyCorp lowered shares of CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Bank of America initiated coverage on shares of CenterPoint Energy in a research report on Thursday, September 12th. They set a “neutral” rating and a $29.00 price target on the stock. Morgan Stanley raised their price objective on CenterPoint Energy from $29.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Scotiabank lowered their target price on CenterPoint Energy from $29.00 to $28.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 20th. Finally, StockNews.com raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $29.36.

CenterPoint Energy Stock Performance

Shares of NYSE CNP opened at $28.17 on Friday. CenterPoint Energy, Inc. has a 12 month low of $25.41 and a 12 month high of $31.57. The stock has a 50 day moving average of $27.51 and a 200-day moving average of $28.67. The company has a current ratio of 1.20, a quick ratio of 0.99 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $18.02 billion, a P/E ratio of 19.84, a P/E/G ratio of 2.46 and a beta of 0.92.

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

CenterPoint Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.80 annualized dividend and a yield of 2.84%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 56.34%.

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.