200,591 Shares in CenterPoint Energy, Inc. (NYSE:CNP) Bought by Cinctive Capital Management LP

Cinctive Capital Management LP acquired a new stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 200,591 shares of the utilities provider’s stock, valued at approximately $5,901,000.

Several other hedge funds also recently added to or reduced their stakes in CNP. Olistico Wealth LLC bought a new position in shares of CenterPoint Energy during the second quarter worth about $33,000. Rothschild Investment LLC acquired a new position in shares of CenterPoint Energy in the 2nd quarter worth approximately $33,000. First Horizon Advisors Inc. grew its position in shares of CenterPoint Energy by 51.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 375 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of CenterPoint Energy in the 2nd quarter valued at approximately $36,000. Finally, Kimelman & Baird LLC acquired a new stake in shares of CenterPoint Energy during the 2nd quarter valued at approximately $43,000. 91.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CNP shares. BMO Capital Markets reaffirmed a “market perform” rating and issued a $28.00 price objective on shares of CenterPoint Energy in a report on Monday, August 26th. Morgan Stanley decreased their price target on shares of CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Scotiabank increased their price objective on shares of CenterPoint Energy from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 29th. Bank of America assumed coverage on CenterPoint Energy in a research note on Thursday, September 12th. They issued a “neutral” rating and a $29.00 target price for the company. Finally, Wells Fargo & Company increased their price target on CenterPoint Energy from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.00.

CenterPoint Energy Stock Performance

Shares of CNP stock opened at $32.62 on Monday. CenterPoint Energy, Inc. has a 12-month low of $25.41 and a 12-month high of $32.86. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.92. The firm has a market capitalization of $21.26 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 2.83 and a beta of 0.92. The business has a 50 day simple moving average of $30.14 and a 200 day simple moving average of $29.27.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Monday, October 28th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. CenterPoint Energy had a return on equity of 9.73% and a net margin of 11.25%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the business posted $0.40 earnings per share. On average, equities research analysts anticipate that CenterPoint Energy, Inc. will post 1.62 EPS for the current year.

CenterPoint Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.58%. CenterPoint Energy’s dividend payout ratio (DPR) is 55.63%.

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.