59,418 CenterPoint Energy, Inc. $CNP Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC raised its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 381.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 75,000 shares of the utilities provider’s stock after purchasing an additional 59,418 shares during the period. International Assets Investment Management LLC’s holdings in CenterPoint Energy were worth $2,760,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CNP. Deutsche Bank AG purchased a new stake in shares of CenterPoint Energy in the second quarter worth $770,871,000. Bank of America Corp DE bought a new stake in shares of CenterPoint Energy during the 2nd quarter valued at $332,753,000. Legal & General Group Plc purchased a new position in shares of CenterPoint Energy during the 2nd quarter valued at $250,273,000. GQG Partners LLC purchased a new position in shares of CenterPoint Energy during the 2nd quarter valued at $176,574,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of CenterPoint Energy during the 2nd quarter valued at $163,893,000. 91.77% of the stock is currently owned by institutional investors.

CenterPoint Energy Trading Up 0.5%

Shares of CNP opened at $42.67 on Tuesday. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.15 and a quick ratio of 0.97. CenterPoint Energy, Inc. has a 1 year low of $36.37 and a 1 year high of $45.26. The company has a 50 day simple moving average of $39.23 and a two-hundred day simple moving average of $41.55. The firm has a market cap of $28.29 billion, a P/E ratio of 24.38, a price-to-earnings-growth ratio of 2.75 and a beta of 0.47.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.03. CenterPoint Energy had a net margin of 11.76% and a return on equity of 11.16%. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter last year, the business posted $0.50 earnings per share. On average, equities analysts expect that CenterPoint Energy, Inc. will post 1.91 earnings per share for the current fiscal year.

CenterPoint Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, November 19th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 54.86%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Royal Bank Of Canada started coverage on CenterPoint Energy in a research note on Tuesday, September 15th. They issued a “sector perform” rating and a $40.00 price target for the company. KeyCorp decreased their price target on CenterPoint Energy from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. Weiss Ratings restated a “buy (b)” rating on shares of CenterPoint Energy in a research report on Friday, September 11th. Finally, Truist Financial dropped their price objective on CenterPoint Energy from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.29.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc is a public utility holding company that provides electric and natural gas energy services in the United States. Its operations include electric transmission and distribution, natural gas distribution, and related infrastructure services for residential, commercial, and industrial customers.

The company is the primary electric delivery utility for the Houston, Texas, area and operates electric and natural gas businesses in several states, including Texas, Indiana, Ohio, Louisiana, and Mississippi.