Cullen Frost Bankers Inc. decreased its position in CenterPoint Energy, Inc. (NYSE:CNP) by 3.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,196 shares of the utilities provider’s stock after selling 570 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in CenterPoint Energy were worth $459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new stake in CenterPoint Energy in the 3rd quarter worth approximately $34,000. Advantage Investment Management LLC lifted its position in CenterPoint Energy by 432.7% in the 2nd quarter. Advantage Investment Management LLC now owns 1,598 shares of the utilities provider’s stock worth $46,000 after buying an additional 1,298 shares during the last quarter. TD Capital Management LLC purchased a new position in CenterPoint Energy in the 2nd quarter worth approximately $47,000. HM Payson & Co. purchased a new position in CenterPoint Energy in the 2nd quarter worth approximately $56,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in CenterPoint Energy in the 3rd quarter worth approximately $64,000. Institutional investors own 79.99% of the company’s stock.
CNP opened at $28.78 on Friday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.95 and a current ratio of 1.11. CenterPoint Energy, Inc. has a 52-week low of $26.81 and a 52-week high of $31.42. The stock has a market capitalization of $14.43 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 3.37 and a beta of 0.47. The stock’s 50 day moving average price is $29.19 and its 200-day moving average price is $29.10.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.2875 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.15 annualized dividend and a dividend yield of 4.00%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 71.88%.
In other news, CEO Scott M. Prochazka sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $30.06, for a total transaction of $210,420.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 21,000 shares of company stock worth $608,440 over the last three months. Insiders own 0.24% of the company’s stock.
A number of equities analysts have commented on CNP shares. Wells Fargo & Co decreased their price target on CenterPoint Energy from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 18th. SunTrust Banks raised CenterPoint Energy from a “hold” rating to a “buy” rating and lifted their price target for the stock from $30.00 to $32.00 in a research note on Friday, September 6th. Stifel Nicolaus raised CenterPoint Energy from a “hold” rating to a “buy” rating and lifted their price target for the stock from $30.00 to $32.00 in a research note on Friday, September 6th. Zacks Investment Research cut CenterPoint Energy from a “buy” rating to a “hold” rating and set a $30.00 price target on the stock. in a research note on Monday, October 14th. Finally, UBS Group decreased their price target on CenterPoint Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. CenterPoint Energy currently has an average rating of “Buy” and an average target price of $31.79.
CenterPoint Energy Profile
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
Further Reading: Fundamental Analysis
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