Decade Renewable Partners LP Acquires 87,768 Shares of CenterPoint Energy, Inc. $CNP

Decade Renewable Partners LP lifted its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 161.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,268 shares of the utilities provider’s stock after purchasing an additional 87,768 shares during the quarter. CenterPoint Energy accounts for approximately 4.1% of Decade Renewable Partners LP’s investment portfolio, making the stock its 10th biggest holding. Decade Renewable Partners LP’s holdings in CenterPoint Energy were worth $5,227,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CNP. Vanguard Group Inc. lifted its position in CenterPoint Energy by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 81,362,433 shares of the utilities provider’s stock worth $2,989,256,000 after buying an additional 1,301,374 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of CenterPoint Energy by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 16,710,081 shares of the utilities provider’s stock valued at $611,377,000 after acquiring an additional 652,202 shares in the last quarter. Norges Bank acquired a new stake in shares of CenterPoint Energy in the second quarter valued at about $313,456,000. Jennison Associates LLC raised its holdings in CenterPoint Energy by 31.6% during the second quarter. Jennison Associates LLC now owns 7,859,693 shares of the utilities provider’s stock worth $288,765,000 after acquiring an additional 1,886,374 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in CenterPoint Energy by 0.9% during the first quarter. Northern Trust Corp now owns 5,934,611 shares of the utilities provider’s stock worth $215,011,000 after acquiring an additional 54,596 shares in the last quarter. Institutional investors own 91.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CNP shares. BMO Capital Markets raised their price target on CenterPoint Energy from $39.00 to $41.00 and gave the company a “market perform” rating in a research note on Thursday, October 2nd. JPMorgan Chase & Co. decreased their target price on shares of CenterPoint Energy from $43.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday. Wall Street Zen upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Barclays upped their price target on shares of CenterPoint Energy from $40.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Finally, UBS Group lifted their price objective on shares of CenterPoint Energy from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, CenterPoint Energy currently has an average rating of “Hold” and an average target price of $42.30.

CenterPoint Energy Trading Down 0.5%

Shares of CenterPoint Energy stock opened at $37.28 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.51 and a quick ratio of 0.38. The business has a fifty day simple moving average of $39.25 and a two-hundred day simple moving average of $38.06. CenterPoint Energy, Inc. has a 1 year low of $30.59 and a 1 year high of $40.50. The company has a market capitalization of $24.34 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 2.40 and a beta of 0.56.

CenterPoint Energy (NYSE:CNP) last posted its earnings results on Thursday, October 23rd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.04 billion. CenterPoint Energy had a net margin of 11.37% and a return on equity of 10.25%. During the same quarter last year, the company posted $0.31 EPS. Research analysts forecast that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

CenterPoint Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, November 20th were given a $0.22 dividend. The ex-dividend date was Thursday, November 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 55.70%.

Insider Buying and Selling

In related news, Director Phillip R. Smith sold 6,200 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $38.83, for a total transaction of $240,746.00. Following the completion of the sale, the director owned 65,577 shares of the company’s stock, valued at $2,546,354.91. This represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

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.