Wells Fargo & Company MN raised its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 22.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,241,916 shares of the utilities provider’s stock after purchasing an additional 784,061 shares during the period. Wells Fargo & Company MN’s holdings in CenterPoint Energy were worth $120,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Monroe Bank & Trust MI grew its holdings in shares of CenterPoint Energy by 6.1% in the 3rd quarter. Monroe Bank & Trust MI now owns 29,264 shares of the utilities provider’s stock worth $721,000 after purchasing an additional 1,691 shares during the last quarter. ARGI Investment Services LLC grew its holdings in shares of CenterPoint Energy by 6.3% in the 3rd quarter. ARGI Investment Services LLC now owns 31,579 shares of the utilities provider’s stock worth $922,000 after purchasing an additional 1,860 shares during the last quarter. Creative Planning grew its holdings in shares of CenterPoint Energy by 4.9% in the 4th quarter. Creative Planning now owns 42,945 shares of the utilities provider’s stock worth $1,218,000 after purchasing an additional 2,002 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of CenterPoint Energy by 4.7% in the 4th quarter. CIBC Asset Management Inc now owns 47,000 shares of the utilities provider’s stock worth $1,333,000 after purchasing an additional 2,108 shares during the last quarter. Finally, Norinchukin Bank The grew its holdings in shares of CenterPoint Energy by 7.3% in the 3rd quarter. Norinchukin Bank The now owns 32,081 shares of the utilities provider’s stock worth $937,000 after purchasing an additional 2,174 shares during the last quarter. 76.52% of the stock is currently owned by hedge funds and other institutional investors.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $28.11, for a total transaction of $28,110.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 3,000 shares of company stock worth $85,410. Insiders own 0.20% of the company’s stock.
Shares of CenterPoint Energy, Inc. (NYSE CNP) opened at $26.73 on Wednesday. CenterPoint Energy, Inc. has a fifty-two week low of $25.51 and a fifty-two week high of $30.45. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 2.08. The company has a market cap of $11,599.11, a PE ratio of 20.54, a price-to-earnings-growth ratio of 3.03 and a beta of 0.56.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.11 dividend on an annualized basis and a yield of 4.15%. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.27. CenterPoint Energy’s dividend payout ratio is currently 81.02%.
CNP has been the topic of several analyst reports. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Citigroup upped their target price 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. SunTrust Banks reaffirmed a “hold” rating and issued a $28.00 target price on shares of CenterPoint Energy in a report on Tuesday, December 26th. Bank of America initiated coverage on shares of CenterPoint Energy in a report on Tuesday, October 24th. They issued a “neutral” rating and a $30.00 target price on the stock. 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 issued a buy rating and one has given a strong buy rating to the company’s stock. CenterPoint Energy presently has a consensus rating of “Hold” and an average price target of $29.11.
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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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