Edgestream Partners L.P. Invests $1.82 Million in CenterPoint Energy, Inc. (NYSE:CNP)

Edgestream Partners L.P. purchased a new position in CenterPoint Energy, Inc. (NYSE:CNP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 57,273 shares of the utilities provider’s stock, valued at approximately $1,817,000.

Other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in shares of CenterPoint Energy in the 3rd quarter worth $26,000. J.Safra Asset Management Corp bought a new position in shares of CenterPoint Energy in the 4th quarter worth $28,000. Assetmark Inc. raised its position in shares of CenterPoint Energy by 657.1% in the 4th quarter. Assetmark Inc. now owns 901 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 782 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of CenterPoint Energy by 51.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 375 shares in the last quarter. Finally, BankPlus Trust Department bought a new position in shares of CenterPoint Energy in the 4th quarter worth $40,000. 91.77% of the stock is owned by institutional investors.

CenterPoint Energy Stock Up 0.3 %

CenterPoint Energy stock opened at $34.37 on Tuesday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.92 and a current ratio of 1.08. The business’s 50-day simple moving average is $32.77 and its two-hundred day simple moving average is $30.96. The company has a market cap of $22.40 billion, a PE ratio of 21.62, a PEG ratio of 2.71 and a beta of 0.91. CenterPoint Energy, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $35.02.

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. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.46 billion. CenterPoint Energy had a return on equity of 10.02% and a net margin of 11.79%. Equities analysts anticipate that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

CenterPoint Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be paid a $0.22 dividend. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, February 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.56%. CenterPoint Energy’s dividend payout ratio is presently 55.35%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Morgan Stanley dropped their target price on CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. Guggenheim downgraded CenterPoint Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. UBS Group upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $31.00 to $37.00 in a research note 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 stock from $30.00 to $35.00 in a research note on Thursday, December 12th. Finally, Barclays boosted their target price on CenterPoint Energy from $29.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.65.

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.