Hsbc Holdings PLC Buys 11,691 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Hsbc Holdings PLC lifted its position in CenterPoint Energy, Inc. (NYSE:CNP) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,474,172 shares of the utilities provider’s stock after buying an additional 11,691 shares during the quarter. Hsbc Holdings PLC owned about 0.23% of CenterPoint Energy worth $45,630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CNP. Crewe Advisors LLC acquired a new position in CenterPoint Energy during the 1st quarter worth $25,000. Olistico Wealth LLC bought a new position in shares of CenterPoint Energy in the second quarter worth about $33,000. Rothschild Investment LLC acquired a new position in shares of CenterPoint Energy during the 2nd quarter worth about $33,000. FinTrust Capital Advisors LLC boosted its stake in CenterPoint Energy by 60.3% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 452 shares during the period. Finally, Tobam acquired a new stake in CenterPoint Energy in the 1st quarter valued at approximately $35,000. 91.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CNP. Bank of America began coverage on CenterPoint Energy in a research report on Thursday, September 12th. They issued a “neutral” rating and a $29.00 price objective for the company. BMO Capital Markets restated a “market perform” rating and issued a $28.00 price target on shares of CenterPoint Energy in a research report on Monday, August 26th. Morgan Stanley upped their price objective on shares of CenterPoint Energy from $29.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Wells Fargo & Company downgraded CenterPoint Energy from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $32.00 to $28.00 in a research report on Tuesday, August 13th. Finally, Scotiabank lowered 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, CenterPoint Energy presently has an average rating of “Hold” and a consensus price target of $29.36.

CenterPoint Energy Stock Performance

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

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

CenterPoint Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Thursday, August 15th. CenterPoint Energy’s payout ratio is currently 56.34%.

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.