Van ECK Associates Corp Sells 7,032 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Van ECK Associates Corp cut its holdings in CenterPoint Energy, Inc. (NYSE:CNPFree Report) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 157,022 shares of the utilities provider’s stock after selling 7,032 shares during the quarter. Van ECK Associates Corp’s holdings in CenterPoint Energy were worth $4,216,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Advisor Partners II LLC lifted its stake in CenterPoint Energy by 1.2% in the first quarter. Advisor Partners II LLC now owns 29,370 shares of the utilities provider’s stock valued at $865,000 after buying an additional 357 shares during the period. Moors & Cabot Inc. lifted its stake in CenterPoint Energy by 0.7% in the third quarter. Moors & Cabot Inc. now owns 52,633 shares of the utilities provider’s stock valued at $1,413,000 after buying an additional 368 shares during the period. Wetherby Asset Management Inc. lifted its stake in CenterPoint Energy by 3.9% in the first quarter. Wetherby Asset Management Inc. now owns 11,100 shares of the utilities provider’s stock valued at $327,000 after buying an additional 412 shares during the period. First Republic Investment Management Inc. lifted its stake in CenterPoint Energy by 2.2% in the first quarter. First Republic Investment Management Inc. now owns 19,444 shares of the utilities provider’s stock valued at $596,000 after buying an additional 427 shares during the period. Finally, MidWestOne Financial Group Inc. lifted its stake in CenterPoint Energy by 3.6% in the first quarter. MidWestOne Financial Group Inc. now owns 13,205 shares of the utilities provider’s stock valued at $405,000 after buying an additional 465 shares during the period. 88.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CNP shares. Morgan Stanley decreased their price objective on CenterPoint Energy from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Tuesday, November 21st. BMO Capital Markets decreased their price objective on CenterPoint Energy from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, October 16th. Barclays boosted their price objective on CenterPoint Energy from $27.00 to $28.00 and gave the company an “underweight” rating in a report on Monday, January 22nd. JPMorgan Chase & Co. decreased their price objective on CenterPoint Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, October 17th. Finally, TheStreet upgraded CenterPoint Energy from a “c+” rating to a “b” rating in a report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.73.

View Our Latest Stock Report on CenterPoint Energy

CenterPoint Energy Trading Up 0.4 %

Shares of CenterPoint Energy stock opened at $27.53 on Monday. The company has a market capitalization of $17.38 billion, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 2.25 and a beta of 0.93. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 1.76. The stock has a fifty day simple moving average of $28.43 and a 200 day simple moving average of $28.09. CenterPoint Energy, Inc. has a 12-month low of $25.42 and a 12-month high of $31.43.

CenterPoint Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Thursday, February 15th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.91%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 64.00%.

Insider Buying and Selling at CenterPoint Energy

In other CenterPoint Energy news, CFO Christopher A. Foster acquired 5,000 shares of CenterPoint Energy stock in a transaction on Wednesday, November 29th. The stock was purchased at an average price of $28.10 per share, for a total transaction of $140,500.00. Following the purchase, the chief financial officer now directly owns 147,693 shares of the company’s stock, valued at $4,150,173.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

CenterPoint Energy Profile

(Free Report)

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 optimizes assets in the wholesale power market.

Further Reading

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

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