AdvisorNet Financial Inc Reduces Position in CenterPoint Energy, Inc. (NYSE:CNP)

AdvisorNet Financial Inc lessened its position in shares of CenterPoint Energy, Inc. (NYSE:CNPGet Rating) by 27.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,454 shares of the utilities provider’s stock after selling 3,249 shares during the quarter. AdvisorNet Financial Inc’s holdings in CenterPoint Energy were worth $250,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Profund Advisors LLC grew its stake in CenterPoint Energy by 8.1% during the 1st quarter. Profund Advisors LLC now owns 29,273 shares of the utilities provider’s stock worth $897,000 after buying an additional 2,182 shares during the last quarter. Prospera Financial Services Inc purchased a new position in shares of CenterPoint Energy in the 1st quarter valued at approximately $48,000. Bridgewater Associates LP purchased a new position in shares of CenterPoint Energy in the 4th quarter valued at approximately $966,000. Cetera Advisor Networks LLC grew its stake in shares of CenterPoint Energy by 1.5% in the 1st quarter. Cetera Advisor Networks LLC now owns 51,711 shares of the utilities provider’s stock valued at $1,584,000 after purchasing an additional 766 shares during the last quarter. Finally, Quantitative Investment Management LLC grew its stake in shares of CenterPoint Energy by 11.9% in the 1st quarter. Quantitative Investment Management LLC now owns 32,589 shares of the utilities provider’s stock valued at $998,000 after purchasing an additional 3,466 shares during the last quarter. Hedge funds and other institutional investors own 88.94% of the company’s stock.

Analysts Set New Price Targets

CNP has been the topic of several analyst reports. Evercore ISI lifted their target price on CenterPoint Energy to $33.00 in a research note on Tuesday, August 9th. KeyCorp decreased their price target on CenterPoint Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 19th. Morgan Stanley lifted their price target on CenterPoint Energy from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, August 23rd. Finally, Barclays decreased their price target on CenterPoint Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Monday, July 18th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.08.

CenterPoint Energy Price Performance

Shares of NYSE CNP opened at $32.46 on Tuesday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.03 and a quick ratio of 0.88. CenterPoint Energy, Inc. has a 1-year low of $24.33 and a 1-year high of $33.22. The business has a 50-day moving average of $31.53 and a 200-day moving average of $30.78. The company has a market capitalization of $20.43 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 5.95 and a beta of 0.86.

CenterPoint Energy (NYSE:CNPGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The utilities provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.27 by $0.04. CenterPoint Energy had a return on equity of 10.92% and a net margin of 18.16%. During the same period in the previous year, the business earned $0.36 EPS. On average, equities analysts anticipate that CenterPoint Energy, Inc. will post 1.38 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 18th were paid a dividend of $0.18 per share. The ex-dividend date was Wednesday, August 17th. This represents a $0.72 annualized dividend and a yield of 2.22%. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.17. CenterPoint Energy’s dividend payout ratio is presently 29.63%.

CenterPoint Energy Company Profile

(Get Rating)

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as assets in the wholesale power market.

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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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