Brooklyn Investment Group Buys Shares of 2,298 CenterPoint Energy, Inc. (NYSE:CNP)

Brooklyn Investment Group acquired a new stake in CenterPoint Energy, Inc. (NYSE:CNP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,298 shares of the utilities provider’s stock, valued at approximately $68,000.

Several other institutional investors and hedge funds have also made changes to their positions in CNP. Rothschild Investment LLC bought a new stake in CenterPoint Energy in the second quarter valued at $33,000. Olistico Wealth LLC acquired a new stake in CenterPoint Energy in the 2nd quarter valued at approximately $33,000. First Horizon Advisors Inc. grew its stake in shares of CenterPoint Energy by 51.3% in the third quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 375 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in CenterPoint Energy in the 2nd quarter valued at about $36,000. Finally, Kimelman & Baird LLC bought a new stake in shares of CenterPoint Energy during the 2nd quarter worth about $43,000. 91.77% of the stock is owned by institutional investors and hedge funds.

CenterPoint Energy Stock Up 0.4 %

NYSE:CNP opened at $32.66 on Friday. The stock’s fifty day simple moving average is $29.97 and its 200-day simple moving average is $29.23. The firm has a market capitalization of $21.29 billion, a P/E ratio of 21.63, a P/E/G ratio of 2.82 and a beta of 0.92. CenterPoint Energy, Inc. has a 12-month low of $25.41 and a 12-month high of $32.86. 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 data on Monday, October 28th. The utilities provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.88 billion. CenterPoint Energy had a return on equity of 9.73% and a net margin of 11.25%. During the same period in the prior year, the firm earned $0.40 earnings per share. Equities research analysts expect that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current year.

CenterPoint Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.84 dividend on an annualized basis and a yield of 2.57%. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.20. CenterPoint Energy’s dividend payout ratio is 55.63%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. downgraded shares of CenterPoint Energy from an “overweight” rating to a “neutral” rating and cut their price target for the company from $32.00 to $29.00 in a report on Friday, August 2nd. Morgan Stanley cut their price objective on CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. BMO Capital Markets reissued a “market perform” rating and issued a $28.00 price target on shares of CenterPoint Energy in a research note on Monday, August 26th. Wells Fargo & Company increased their price target on shares of CenterPoint Energy from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, KeyCorp cut shares of CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.