Fiduciary Family Office LLC Cuts Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Fiduciary Family Office LLC trimmed its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 8.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,962 shares of the utilities provider’s stock after selling 2,635 shares during the quarter. Fiduciary Family Office LLC’s holdings in CenterPoint Energy were worth $793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CNP. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of CenterPoint Energy by 2.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,321 shares of the utilities provider’s stock valued at $807,000 after buying an additional 574 shares during the period. First Trust Direct Indexing L.P. raised its holdings in CenterPoint Energy by 3.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 13,224 shares of the utilities provider’s stock worth $377,000 after purchasing an additional 447 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of CenterPoint Energy by 3.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 92,169 shares of the utilities provider’s stock valued at $2,637,000 after purchasing an additional 2,728 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of CenterPoint Energy by 18.7% during the first quarter. BNP Paribas Financial Markets now owns 830,958 shares of the utilities provider’s stock valued at $23,674,000 after purchasing an additional 131,176 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in CenterPoint Energy by 1.0% in the first quarter. Janney Montgomery Scott LLC now owns 54,568 shares of the utilities provider’s stock worth $1,555,000 after acquiring an additional 517 shares in the last quarter. 91.77% of the stock is owned by institutional investors.

CenterPoint Energy Stock Performance

CenterPoint Energy stock traded up $0.21 during midday trading on Tuesday, hitting $29.23. 1,331,492 shares of the company’s stock were exchanged, compared to its average volume of 5,348,100. CenterPoint Energy, Inc. has a 12-month low of $25.41 and a 12-month high of $31.57. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.92 and a current ratio of 1.11. The stock has a market cap of $19.05 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 2.48 and a beta of 0.92. The firm’s 50 day simple moving average is $28.84 and its 200 day simple moving average is $29.02.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Monday, October 28th. The utilities provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.88 billion. CenterPoint Energy had a net margin of 11.25% and a return on equity of 9.73%. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Equities research analysts predict 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. Investors of record on Thursday, November 21st will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.84 dividend on an annualized basis and a yield of 2.87%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.20. CenterPoint Energy’s payout ratio is currently 52.98%.

Analysts Set New Price Targets

Several research firms recently commented on CNP. Wells Fargo & Company lifted 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. BMO Capital Markets reaffirmed a “market perform” rating and set a $28.00 price target on shares of CenterPoint Energy in a research note on Monday, August 26th. Bank of America initiated coverage on shares of CenterPoint Energy in a research note on Thursday, September 12th. They set a “neutral” rating and a $29.00 price target for the company. Morgan Stanley upped their price target on shares of CenterPoint Energy from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, KeyCorp cut shares of CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $30.09.

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.