CenterPoint Energy, Inc. (NYSE:CNP) Shares Bought by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. lifted its position in CenterPoint Energy, Inc. (NYSE:CNP) by 10.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,598 shares of the utilities provider’s stock after acquiring an additional 689 shares during the quarter. Raleigh Capital Management Inc.’s holdings in CenterPoint Energy were worth $224,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CNP. Price T Rowe Associates Inc. MD lifted its holdings in shares of CenterPoint Energy by 38.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,602,621 shares of the utilities provider’s stock worth $302,070,000 after purchasing an additional 2,961,464 shares during the last quarter. Railway Pension Investments Ltd bought a new stake in shares of CenterPoint Energy in the 2nd quarter worth approximately $63,758,000. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of CenterPoint Energy by 46.6% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,666,563 shares of the utilities provider’s stock worth $144,570,000 after purchasing an additional 1,484,079 shares during the last quarter. Maple Brown Abbott Ltd bought a new stake in shares of CenterPoint Energy in the 2nd quarter worth approximately $42,548,000. Finally, Merewether Investment Management LP bought a new stake in shares of CenterPoint Energy in the 2nd quarter worth approximately $31,188,000. Institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Stock Down 0.9 %

Shares of CNP stock opened at $29.81 on Wednesday. CenterPoint Energy, Inc. has a 1 year low of $25.41 and a 1 year high of $31.57. The stock has a market cap of $19.07 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 2.56 and a beta of 0.92. The business’s fifty day moving average is $28.21 and its 200-day moving average is $28.91. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.99 and a current ratio of 1.20.

CenterPoint Energy (NYSE:CNP) last issued its quarterly 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. 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 for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the firm earned $0.28 EPS. Equities analysts expect that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current fiscal year.

CenterPoint Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.82%. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, November 21st. CenterPoint Energy’s payout ratio is presently 59.15%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CNP shares. StockNews.com downgraded CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. KeyCorp downgraded CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. downgraded CenterPoint Energy from an “overweight” rating to a “neutral” rating and cut their target price for the company from $32.00 to $29.00 in a research note on Friday, August 2nd. BMO Capital Markets reaffirmed a “market perform” rating and set a $28.00 target price on shares of CenterPoint Energy in a research note on Monday, August 26th. Finally, Bank of America assumed coverage on CenterPoint Energy in a research note on Thursday, September 12th. They set a “neutral” rating and a $29.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.