Bank of Montreal Can Sells 1,574,242 Shares of CenterPoint Energy, Inc. (CNP)

Bank of Montreal Can reduced its position in CenterPoint Energy, Inc. (NYSE:CNP) by 55.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,251,404 shares of the utilities provider’s stock after selling 1,574,242 shares during the period. Bank of Montreal Can owned 0.29% of CenterPoint Energy worth $35,490,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Carnegie Capital Asset Management LLC boosted its stake in CenterPoint Energy by 0.3% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 12,513 shares of the utilities provider’s stock worth $353,000 after purchasing an additional 39 shares in the last quarter. IHT Wealth Management LLC acquired a new stake in CenterPoint Energy in the 2nd quarter worth approximately $153,000. Veritable L.P. lifted its stake in CenterPoint Energy by 2.9% during the 2nd quarter. Veritable L.P. now owns 11,989 shares of the utilities provider’s stock valued at $328,000 after acquiring an additional 342 shares during the period. Sentry Investment Management LLC lifted its stake in CenterPoint Energy by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 33,735 shares of the utilities provider’s stock valued at $924,000 after acquiring an additional 351 shares during the period. Finally, Thrivent Financial For Lutherans lifted its stake in CenterPoint Energy by 2.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 16,660 shares of the utilities provider’s stock valued at $456,000 after acquiring an additional 440 shares during the period. Institutional investors and hedge funds own 77.85% of the company’s stock.

Shares of CenterPoint Energy, Inc. (NYSE:CNP) traded down $0.58 during mid-day trading on Wednesday, hitting $26.19. 2,989,969 shares of the stock traded hands, compared to its average volume of 4,138,141. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.77 and a current ratio of 0.91. The firm has a market cap of $11,370.00, a PE ratio of 18.98, a price-to-earnings-growth ratio of 3.04 and a beta of 0.56. CenterPoint Energy, Inc. has a 1 year low of $25.51 and a 1 year high of $30.45.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be given a $0.2775 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $1.11 dividend on an annualized basis and a yield of 4.24%. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.27. CenterPoint Energy’s dividend payout ratio is presently 77.54%.

Several analysts have commented on CNP shares. Zacks Investment Research upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Wednesday. SunTrust Banks reaffirmed a “hold” rating and set a $28.00 target price on shares of CenterPoint Energy in a report on Tuesday, December 26th. Citigroup lifted their target price on shares of CenterPoint Energy from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, November 20th. Bank of America started coverage on shares of CenterPoint Energy in a report on Tuesday, October 24th. They issued a “neutral” rating and a $30.00 price target for the company. Finally, Guggenheim lowered shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a report on Monday, December 4th. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $29.11.

In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $29.39, for a total value of $29,390.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 3,000 shares of company stock worth $85,410 in the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

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CenterPoint Energy Profile

CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.

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

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