Choreo LLC Acquires Shares of 10,392 CenterPoint Energy, Inc. (NYSE:CNP)

Choreo LLC bought a new stake in CenterPoint Energy, Inc. (NYSE:CNP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,392 shares of the utilities provider’s stock, valued at approximately $318,000.

Several other large investors have also made changes to their positions in CNP. Crewe Advisors LLC bought a new stake in CenterPoint Energy during the 1st quarter worth about $25,000. Olistico Wealth LLC bought a new stake in shares of CenterPoint Energy during the second quarter worth approximately $33,000. Rothschild Investment LLC acquired a new position in CenterPoint Energy in the second quarter valued at approximately $33,000. FinTrust Capital Advisors LLC boosted its stake in CenterPoint Energy by 60.3% in the first quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 452 shares during the last quarter. Finally, Tobam acquired a new stake in CenterPoint Energy during the 1st quarter worth $35,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

CenterPoint Energy Price Performance

CNP stock opened at $28.32 on Wednesday. The stock has a 50-day moving average price of $27.59 and a two-hundred day moving average price of $28.67. CenterPoint Energy, Inc. has a 1 year low of $25.41 and a 1 year high of $31.57. The stock has a market cap of $18.12 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 2.46 and a beta of 0.92. The company has a current ratio of 1.20, a quick ratio of 0.99 and a debt-to-equity ratio of 1.79.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm earned $0.28 EPS. Equities analysts forecast that CenterPoint Energy, Inc. will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 15th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.82%. The ex-dividend date was Thursday, August 15th. CenterPoint Energy’s payout ratio is 56.34%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CNP. Scotiabank cut their price target on CenterPoint Energy from $29.00 to $28.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 20th. Bank of America started coverage on CenterPoint Energy in a report on Thursday, September 12th. They set a “neutral” rating and a $29.00 target price on the stock. Wells Fargo & Company cut CenterPoint Energy from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $32.00 to $28.00 in a research note on Tuesday, August 13th. StockNews.com lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Sunday, August 25th. Finally, JPMorgan Chase & Co. downgraded shares of CenterPoint Energy from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $32.00 to $29.00 in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.36.

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.