Other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of CenterPoint Energy by 52,437.7% in the third quarter. Victory Capital Management Inc. now owns 2,887,473 shares of the company’s stock valued at $67,076,000 after buying an additional 2,881,977 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in CenterPoint Energy during the third quarter valued at $66,260,000. Numeric Investors LLC increased its position in CenterPoint Energy by 805.7% in the second quarter. Numeric Investors LLC now owns 2,383,000 shares of the company’s stock valued at $57,192,000 after buying an additional 2,119,900 shares during the last quarter. State of Tennessee Treasury Department increased its position in CenterPoint Energy by 1,888.4% in the third quarter. State of Tennessee Treasury Department now owns 1,900,578 shares of the company’s stock valued at $44,150,000 after buying an additional 1,804,997 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. increased its position in CenterPoint Energy by 54.4% in the third quarter. Duff & Phelps Investment Management Co. now owns 4,741,300 shares of the company’s stock valued at $110,140,000 after buying an additional 1,670,000 shares during the last quarter. 72.50% of the stock is owned by hedge funds and other institutional investors.
OLD Republic International Corp boosted its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 11.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,091,000 shares of the company’s stock after buying an additional 111,000 shares during the period. OLD Republic International Corp’s holdings in CenterPoint Energy were worth $21,195,000 as of its most recent SEC filing.
Shares of CenterPoint Energy, Inc. (NYSE:CNP) opened at 26.49 on Monday. CenterPoint Energy, Inc. has a 12 month low of $17.55 and a 12 month high of $26.59. The firm’s market cap is $11.41 billion. The stock’s 50 day moving average price is $25.53 and its 200-day moving average price is $23.75.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Thursday, February 16th will be issued a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a dividend yield of 4.04%. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.26. The ex-dividend date is Tuesday, February 14th. CenterPoint Energy’s payout ratio is presently -245.24%.
Several equities analysts have weighed in on CNP shares. Zacks Investment Research raised CenterPoint Energy from a “hold” rating to a “strong-buy” rating and set a $29.00 price target for the company in a research report on Wednesday, January 11th. Credit Suisse Group downgraded CenterPoint Energy from a “neutral” rating to an “underperform” rating and raised their price target for the stock from $24.00 to $25.00 in a research report on Tuesday, November 8th. They noted that the move was a valuation call. TheStreet raised CenterPoint Energy from a “c+” rating to a “b-” rating in a research report on Tuesday, January 10th. Guggenheim started coverage on CenterPoint Energy in a research report on Thursday, November 3rd. They set a “buy” rating and a $25.00 price target for the company. Finally, Barclays PLC reissued a “hold” rating and set a $27.00 price target on shares of CenterPoint Energy in a research report on Monday, January 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.56.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company’s segments include Electric Transmission & Distribution, Natural Gas Distribution, Energy Services, Midstream Investments and Other Operations. Its Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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