Wealthspire Advisors LLC Sells 445 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Wealthspire Advisors LLC cut its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,877 shares of the utilities provider’s stock after selling 445 shares during the quarter. Wealthspire Advisors LLC’s holdings in CenterPoint Energy were worth $282,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CNP. Fisher Funds Management LTD purchased a new position in shares of CenterPoint Energy during the fourth quarter valued at about $4,764,000. Blackston Financial Advisory Group LLC purchased a new position in shares of CenterPoint Energy during the fourth quarter valued at about $215,000. Truist Financial Corp grew its position in shares of CenterPoint Energy by 2.5% during the fourth quarter. Truist Financial Corp now owns 85,759 shares of the utilities provider’s stock valued at $2,721,000 after purchasing an additional 2,069 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of CenterPoint Energy by 4.4% during the fourth quarter. CIBC Asset Management Inc now owns 98,375 shares of the utilities provider’s stock valued at $3,121,000 after purchasing an additional 4,145 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its position in shares of CenterPoint Energy by 5.0% during the fourth quarter. Sanctuary Advisors LLC now owns 40,872 shares of the utilities provider’s stock valued at $1,344,000 after purchasing an additional 1,955 shares in the last quarter. 91.77% of the stock is owned by institutional investors.

CenterPoint Energy Stock Down 0.7 %

CNP stock opened at $33.80 on Friday. The company has a market cap of $22.03 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 2.71 and a beta of 0.95. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.91. CenterPoint Energy, Inc. has a 12 month low of $25.41 and a 12 month high of $34.49. The firm has a 50-day moving average of $32.52 and a two-hundred day moving average of $30.50.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. CenterPoint Energy had a net margin of 11.79% and a return on equity of 10.02%. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.46 billion. As a group, analysts forecast that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

CenterPoint Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.60%. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.21. CenterPoint Energy’s dividend payout ratio (DPR) is presently 55.35%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. LADENBURG THALM/SH SH assumed coverage on CenterPoint Energy in a research report on Thursday, December 12th. They issued a “buy” rating and a $34.50 price target for the company. UBS Group upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $31.00 to $37.00 in a research report on Tuesday, December 3rd. Scotiabank upgraded CenterPoint Energy from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $30.00 to $35.00 in a research report on Thursday, December 12th. Morgan Stanley dropped their target price on CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Finally, Guggenheim lowered CenterPoint Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.65.

About CenterPoint Energy

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.