CenterPoint Energy, Inc. (NYSE:CNP) Stake Raised by Amalgamated Bank

Amalgamated Bank lifted its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 36.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 178,104 shares of the utilities provider’s stock after buying an additional 47,686 shares during the period. Amalgamated Bank’s holdings in CenterPoint Energy were worth $5,518,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CNP. Aveo Capital Partners LLC grew its stake in shares of CenterPoint Energy by 4.7% in the fourth quarter. Aveo Capital Partners LLC now owns 13,280 shares of the utilities provider’s stock worth $379,000 after purchasing an additional 600 shares in the last quarter. Private Advisor Group LLC grew its position 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 during the 4th quarter valued at about $69,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of CenterPoint Energy during the 4th quarter worth about $379,000. Finally, Avantax Advisory Services Inc. lifted its stake in shares of CenterPoint Energy by 16.0% in the 4th quarter. Avantax Advisory Services Inc. now owns 13,867 shares of the utilities provider’s stock worth $396,000 after acquiring an additional 1,913 shares during the period. 91.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CNP. StockNews.com raised CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Wednesday. Morgan Stanley boosted their price objective on CenterPoint Energy from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Wells Fargo & Company cut CenterPoint Energy from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $32.00 to $28.00 in a research note on Tuesday, August 13th. JPMorgan Chase & Co. cut shares of CenterPoint Energy from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $32.00 to $29.00 in a research report on Friday, August 2nd. Finally, Scotiabank reduced their price objective on shares of CenterPoint Energy from $29.00 to $28.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $29.36.

CenterPoint Energy Stock Down 0.3 %

CNP stock opened at $28.17 on Friday. The company has a 50 day moving average of $27.51 and a two-hundred day moving average of $28.67. The company has a market cap of $18.02 billion, a price-to-earnings ratio of 19.84, a PEG 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. The company has a quick ratio of 0.99, a current ratio of 1.20 and a debt-to-equity ratio of 1.79.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data 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. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations 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 firm earned $0.28 earnings per share. On average, equities analysts anticipate that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current fiscal year.

CenterPoint Energy Announces Dividend

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

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.