AE Wealth Management LLC Has $16.08 Million Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

AE Wealth Management LLC grew its position in CenterPoint Energy, Inc. (NYSE:CNP) by 39.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 519,012 shares of the utilities provider’s stock after purchasing an additional 146,222 shares during the period. AE Wealth Management LLC owned about 0.08% of CenterPoint Energy worth $16,079,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CNP. Aveo Capital Partners LLC increased its holdings in shares of CenterPoint Energy by 4.7% during the 4th quarter. Aveo Capital Partners LLC now owns 13,280 shares of the utilities provider’s stock valued at $379,000 after acquiring an additional 600 shares during the last quarter. Private Advisor Group LLC boosted its stake in CenterPoint Energy by 29.4% in the 4th quarter. Private Advisor Group LLC now owns 10,078 shares of the utilities provider’s stock valued at $286,000 after buying an additional 2,291 shares in the last quarter. Principal Securities Inc. acquired a new position in CenterPoint Energy in the fourth quarter worth $69,000. Envestnet Portfolio Solutions Inc. acquired a new position in CenterPoint Energy in the fourth quarter worth $379,000. Finally, Avantax Advisory Services Inc. boosted its stake in CenterPoint Energy by 16.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 13,867 shares of the utilities provider’s stock worth $396,000 after purchasing an additional 1,913 shares in the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.

CenterPoint Energy Price Performance

NYSE:CNP opened at $28.17 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.20 and a debt-to-equity ratio of 1.79. The stock’s 50 day moving average price is $27.51 and its two-hundred day moving average price is $28.67. The firm has a market capitalization of $18.02 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 2.46 and a beta of 0.92. CenterPoint Energy, Inc. has a 12-month low of $25.41 and a 12-month high of $31.57.

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

CenterPoint Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a yield of 2.84%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 56.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. downgraded CenterPoint Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $32.00 to $29.00 in a research report on Friday, August 2nd. Bank of America started coverage on CenterPoint Energy in a report on Thursday, September 12th. They issued a “neutral” rating and a $29.00 price objective for the company. KeyCorp downgraded CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. BMO Capital Markets reaffirmed a “market perform” rating and set a $28.00 price objective on shares of CenterPoint Energy in a research report on Monday, August 26th. Finally, StockNews.com raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, CenterPoint Energy currently has an average rating of “Hold” and a consensus target price of $29.36.

CenterPoint Energy Company 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.