Tidal Investments LLC Cuts Position in CenterPoint Energy, Inc. (NYSE:CNP)

Tidal Investments LLC lowered its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,576 shares of the utilities provider’s stock after selling 569 shares during the period. Tidal Investments LLC’s holdings in CenterPoint Energy were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ING Groep NV purchased a new stake in CenterPoint Energy during the third quarter worth $2,564,000. DRW Securities LLC purchased a new position in CenterPoint Energy during the 3rd quarter valued at about $908,000. Swiss National Bank raised its position in CenterPoint Energy by 1.3% during the third quarter. Swiss National Bank now owns 1,898,800 shares of the utilities provider’s stock worth $55,863,000 after acquiring an additional 24,400 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of CenterPoint Energy by 13.4% in the second quarter. Bank of Montreal Can now owns 1,052,237 shares of the utilities provider’s stock valued at $32,630,000 after purchasing an additional 124,529 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of CenterPoint Energy in the third quarter valued at about $705,000. 91.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CNP has been the subject of several research reports. Wells Fargo & Company lifted their price objective on CenterPoint Energy from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. LADENBURG THALM/SH SH assumed coverage on CenterPoint Energy in a report on Thursday, December 12th. They issued a “buy” rating and a $34.50 price target for the company. Bank of America initiated coverage on CenterPoint Energy in a research note on Thursday, September 12th. They set a “neutral” rating and a $29.00 price objective on the stock. StockNews.com downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley decreased their price target on shares of CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, CenterPoint Energy currently has a consensus rating of “Hold” and an average target price of $31.27.

CenterPoint Energy Stock Up 0.9 %

Shares of CNP opened at $32.39 on Wednesday. CenterPoint Energy, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $33.00. The company’s fifty day moving average is $30.95 and its two-hundred day moving average is $29.49. The firm has a market cap of $21.11 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 2.72 and a beta of 0.96. The company has a quick ratio of 0.92, a current ratio of 1.11 and a debt-to-equity ratio of 1.87.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Monday, October 28th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate 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 in the previous year, the business earned $0.40 earnings per share. Analysts forecast that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current year.

CenterPoint Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.72%. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, February 20th. CenterPoint Energy’s payout ratio is 58.28%.

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.