Prime Capital Investment Advisors LLC Sells 1,746 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Prime Capital Investment Advisors LLC lessened its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 10.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,205 shares of the utilities provider’s stock after selling 1,746 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in CenterPoint Energy were worth $418,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CNP. Crewe Advisors LLC acquired a new position in shares of CenterPoint Energy during the first quarter valued at about $25,000. Olistico Wealth LLC bought a new position in CenterPoint Energy in the 2nd quarter valued at about $33,000. Rothschild Investment LLC acquired a new position in CenterPoint Energy during the 2nd quarter valued at about $33,000. Strategic Investment Solutions Inc. IL bought a new stake in CenterPoint Energy during the 2nd quarter worth approximately $36,000. Finally, Kimelman & Baird LLC purchased a new stake in shares of CenterPoint Energy in the second quarter worth approximately $43,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

CenterPoint Energy Stock Performance

NYSE:CNP opened at $30.86 on Friday. The company has a market capitalization of $20.11 billion, a P/E ratio of 20.44, a P/E/G ratio of 2.64 and a beta of 0.92. The business has a fifty day simple moving average of $29.32 and a two-hundred day simple moving average of $29.09. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.92. CenterPoint Energy, Inc. has a 1 year low of $25.41 and a 1 year high of $31.57.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Monday, October 28th. The utilities provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.88 billion. CenterPoint Energy had a return on equity of 9.73% and a net margin of 11.25%. During the same quarter last year, the firm posted $0.40 EPS. On average, analysts expect that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current year.

CenterPoint Energy Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Thursday, November 21st. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.72%. CenterPoint Energy’s dividend payout ratio (DPR) is 52.98%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Bank of America began coverage on CenterPoint Energy in a research report on Thursday, September 12th. They set a “neutral” rating and a $29.00 target price on the stock. Wells Fargo & Company upped their target price on shares of CenterPoint Energy from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. BMO Capital Markets reissued a “market perform” rating and set a $28.00 price target on shares of CenterPoint Energy in a research report on Monday, August 26th. StockNews.com downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Finally, KeyCorp cut shares of CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Two 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.09.

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.