ARP Americas LP lifted its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 132.3% during the 4th quarter, HoldingsChannel reports. The fund owned 97,023 shares of the utilities provider’s stock after buying an additional 55,261 shares during the period. ARP Americas LP’s holdings in CenterPoint Energy were worth $2,752,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Tortoise Investment Management LLC acquired a new position in shares of CenterPoint Energy during the 3rd quarter valued at $120,000. NuWave Investment Management LLC acquired a new position in shares of CenterPoint Energy during the 4th quarter valued at $132,000. SeaCrest Wealth Management LLC acquired a new position in shares of CenterPoint Energy during the 4th quarter valued at $135,000. Welch Group LLC acquired a new position in CenterPoint Energy in the 4th quarter worth $148,000. Finally, Eagle Ridge Investment Management acquired a new position in CenterPoint Energy in the 3rd quarter worth $201,000. Institutional investors and hedge funds own 77.85% of the company’s stock.
A number of brokerages have commented on CNP. Zacks Investment Research upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Friday, February 2nd. SunTrust Banks set a $27.00 price objective on shares of CenterPoint Energy and gave the stock a “hold” rating in a report on Monday, February 12th. 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. Bank of America began coverage on shares of CenterPoint Energy in a report on Tuesday, October 24th. They issued a “neutral” rating and a $30.00 price objective on the stock. Finally, Citigroup boosted their price objective on shares of CenterPoint Energy from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, November 20th. Nine investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $29.11.
In other news, CEO Scott M. Prochazka sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $27.91, for a total value of $27,910.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 3,000 shares of company stock valued at $85,410 in the last three months. Insiders own 0.20% of the company’s stock.
CenterPoint Energy, Inc. (CNP) opened at $26.91 on Monday. CenterPoint Energy, Inc. has a 1-year low of $25.51 and a 1-year high of $30.45. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.91 and a quick ratio of 0.77. The company has a market cap of $11,599.13, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 3.03 and a beta of 0.56.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders 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 annualized dividend and a dividend yield of 4.12%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.27. CenterPoint Energy’s payout ratio is presently 81.02%.
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CenterPoint Energy Company 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.
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