GAMMA Investing LLC Sells 5,611 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

GAMMA Investing LLC reduced its position in CenterPoint Energy, Inc. (NYSE:CNP) by 42.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,476 shares of the utilities provider’s stock after selling 5,611 shares during the period. GAMMA Investing LLC’s holdings in CenterPoint Energy were worth $220,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. D L Carlson Investment Group Inc. boosted its stake in CenterPoint Energy by 1.1% in the fourth quarter. D L Carlson Investment Group Inc. now owns 48,112 shares of the utilities provider’s stock valued at $1,341,000 after acquiring an additional 529 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of CenterPoint Energy by 141.4% during the 4th quarter. V Square Quantitative Management LLC now owns 19,188 shares of the utilities provider’s stock valued at $548,000 after purchasing an additional 11,238 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of CenterPoint Energy in the 4th quarter worth $176,000. Goldman Sachs Group Inc. grew its stake in CenterPoint Energy by 96.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,958,562 shares of the utilities provider’s stock worth $141,666,000 after buying an additional 2,428,640 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in CenterPoint Energy by 22.2% during the 4th quarter. Wellington Management Group LLP now owns 3,990,250 shares of the utilities provider’s stock valued at $114,001,000 after buying an additional 723,663 shares in the last quarter. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. 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 target for the company. BMO Capital Markets reiterated a “market perform” rating and issued a $28.00 target price on shares of CenterPoint Energy in a research note on Monday, August 26th. StockNews.com lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Sunday, October 6th. KeyCorp downgraded shares of CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company lowered CenterPoint Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $32.00 to $28.00 in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $29.55.

CenterPoint Energy Trading Up 0.3 %

Shares of NYSE:CNP opened at $29.57 on Friday. 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 business has a 50 day moving average of $27.73 and a two-hundred day moving average of $28.82. The company has a market capitalization of $18.98 billion, a PE ratio of 18.37, a PEG ratio of 2.56 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.04. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations 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 business posted $0.28 EPS. As a group, analysts forecast that CenterPoint Energy, Inc. will post 1.62 EPS for the current year.

CenterPoint Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.21 per share. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Thursday, November 21st. CenterPoint Energy’s dividend payout ratio is presently 49.69%.

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.