CenterPoint Energy, Inc. (NYSE:CNP) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 2.1% in the third quarter, HoldingsChannel.com reports. The firm owned 5,532,845 shares of the utilities provider’s stock after selling 117,565 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in CenterPoint Energy were worth $162,776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNP. Olistico Wealth LLC purchased a new stake in CenterPoint Energy in the second quarter valued at approximately $33,000. Rothschild Investment LLC purchased a new stake in shares of CenterPoint Energy in the 2nd quarter valued at $33,000. First Horizon Advisors Inc. lifted its stake in CenterPoint Energy by 51.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 375 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in CenterPoint Energy during the 2nd quarter valued at about $36,000. Finally, Kimelman & Baird LLC acquired a new position in CenterPoint Energy in the 2nd quarter valued at about $43,000. 91.77% of the stock is owned by institutional investors and hedge funds.

CenterPoint Energy Stock Performance

Shares of CenterPoint Energy stock opened at $31.93 on Friday. 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, Inc. has a 52 week low of $25.41 and a 52 week high of $32.34. The firm’s 50 day moving average is $29.71 and its two-hundred day moving average is $29.17. The firm has a market capitalization of $20.81 billion, a P/E ratio of 21.15, a P/E/G ratio of 2.75 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Monday, October 28th. The utilities provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. CenterPoint Energy had a net margin of 11.25% and a return on equity of 9.73%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the business earned $0.40 EPS. Research analysts forecast that CenterPoint Energy, Inc. will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.63%. CenterPoint Energy’s dividend payout ratio is 55.63%.

Analyst Ratings Changes

Several research analysts have recently commented on CNP shares. BMO Capital Markets reissued a “market perform” rating and issued a $28.00 price objective on shares of CenterPoint Energy in a research note on Monday, August 26th. Bank of America started coverage on shares of CenterPoint Energy in a research note on Thursday, September 12th. They issued a “neutral” rating and a $29.00 price target for the company. Morgan Stanley reduced their price objective on CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Friday. Scotiabank boosted their target price on CenterPoint Energy from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company increased their price target on CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.00.

CenterPoint Energy 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.