Dynasty Wealth Management LLC Purchases 6,219 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Dynasty Wealth Management LLC increased its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 21.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,917 shares of the utilities provider’s stock after buying an additional 6,219 shares during the period. Dynasty Wealth Management LLC’s holdings in CenterPoint Energy were worth $1,108,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. QRG Capital Management Inc. boosted its stake in CenterPoint Energy by 10.0% during the 4th quarter. QRG Capital Management Inc. now owns 18,298 shares of the utilities provider’s stock valued at $581,000 after purchasing an additional 1,670 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of CenterPoint Energy during the fourth quarter worth approximately $2,381,000. New York Life Investment Management LLC boosted its position in shares of CenterPoint Energy by 0.8% in the fourth quarter. New York Life Investment Management LLC now owns 87,100 shares of the utilities provider’s stock valued at $2,764,000 after acquiring an additional 681 shares during the period. Lake Street Advisors Group LLC acquired a new stake in shares of CenterPoint Energy in the fourth quarter worth $211,000. Finally, Illinois Municipal Retirement Fund increased its position in CenterPoint Energy by 72.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 382,811 shares of the utilities provider’s stock worth $12,147,000 after acquiring an additional 161,461 shares during the period. 91.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CNP shares. UBS Group raised shares of CenterPoint Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $31.00 to $37.00 in a report on Tuesday, December 3rd. Morgan Stanley reduced their target price on shares of CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Guggenheim downgraded CenterPoint Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Barclays upped their price target on CenterPoint Energy from $29.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, January 27th. Finally, LADENBURG THALM/SH SH started coverage on CenterPoint Energy in a research report on Thursday, December 12th. They issued a “buy” rating and a $34.50 price objective for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.65.

CenterPoint Energy Price Performance

CenterPoint Energy stock opened at $34.38 on Friday. The business has a 50 day simple moving average of $32.56 and a 200 day simple moving average of $30.56. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.08 and a quick ratio of 0.92. The company has a market capitalization of $22.41 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.71 and a beta of 0.95. CenterPoint Energy, Inc. has a one year low of $25.41 and a one year high of $34.49.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. CenterPoint Energy had a return on equity of 10.02% and a net margin of 11.79%. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.46 billion. On average, sell-side analysts forecast that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.56%. CenterPoint Energy’s payout ratio is 55.35%.

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.