Capital Group Private Client Services Inc. Has $47.41 Million Stake in CenterPoint Energy, Inc. (NYSE:CNP)

Capital Group Private Client Services Inc. cut its position in CenterPoint Energy, Inc. (NYSE:CNP) by 1.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,494,031 shares of the utilities provider’s stock after selling 19,723 shares during the quarter. Capital Group Private Client Services Inc. owned about 0.23% of CenterPoint Energy worth $47,406,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CNP. Quadrant Capital Group LLC boosted its position in shares of CenterPoint Energy by 8.2% in the fourth quarter. Quadrant Capital Group LLC now owns 5,167 shares of the utilities provider’s stock valued at $164,000 after acquiring an additional 390 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in shares of CenterPoint Energy by 3.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,907 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 416 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of CenterPoint Energy by 3.2% in the fourth quarter. Farther Finance Advisors LLC now owns 13,909 shares of the utilities provider’s stock valued at $441,000 after buying an additional 432 shares during the period. Signature Estate & Investment Advisors LLC increased its stake in CenterPoint Energy by 5.0% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 9,740 shares of the utilities provider’s stock worth $309,000 after acquiring an additional 461 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in CenterPoint Energy by 53.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,392 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 482 shares in the last quarter. 91.77% of the stock is owned by institutional investors and hedge funds.

CenterPoint Energy Stock Performance

NYSE:CNP opened at $37.14 on Friday. The stock’s 50-day moving average is $35.13 and its 200-day moving average is $32.58. The stock has a market cap of $24.24 billion, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 2.71 and a beta of 0.65. CenterPoint Energy, Inc. has a 1-year low of $25.41 and a 1-year high of $37.70. 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 (NYSE:CNP) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.40 earnings per share (EPS) 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 firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.46 billion. Equities research analysts anticipate that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

CenterPoint Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 15th will be paid a $0.22 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.37%. CenterPoint Energy’s payout ratio is 55.35%.

Analyst Ratings Changes

A number of research analysts recently commented on CNP shares. Argus upgraded CenterPoint Energy to a “hold” rating in a research report on Friday, April 4th. BMO Capital Markets upped their price target on shares of CenterPoint Energy from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, March 17th. Guggenheim downgraded shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Morgan Stanley raised their target price on CenterPoint Energy from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Finally, Evercore ISI raised CenterPoint Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $36.00 to $37.00 in a research note on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, CenterPoint Energy currently has a consensus rating of “Hold” and an average price target of $34.46.

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.