2,298 Shares in CenterPoint Energy, Inc. (NYSE:CNP) Acquired by Brooklyn Investment Group

Brooklyn Investment Group acquired a new stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) in the 3rd quarter, HoldingsChannel reports. The firm acquired 2,298 shares of the utilities provider’s stock, valued at approximately $68,000.

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

CenterPoint Energy Stock Up 0.4 %

CNP stock opened at $32.66 on Friday. The company has a market capitalization of $21.29 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 2.82 and a beta of 0.92. 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 business’s 50 day moving average price is $29.97 and its two-hundred day moving average price is $29.23. CenterPoint Energy, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $32.86.

CenterPoint Energy (NYSE:CNP) last issued its quarterly 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 firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.88 billion. CenterPoint Energy had a return on equity of 9.73% and a net margin of 11.25%. During the same period last year, the company earned $0.40 earnings per share. As a group, analysts forecast that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current fiscal year.

CenterPoint Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.20. CenterPoint Energy’s payout ratio is 55.63%.

Analyst Ratings Changes

CNP has been the subject of several research reports. KeyCorp downgraded CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Scotiabank boosted their target price on shares of CenterPoint Energy from $28.00 to $30.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 29th. Morgan Stanley lowered their target price on CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. downgraded shares of CenterPoint Energy from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $32.00 to $29.00 in a report on Friday, August 2nd. Finally, Wells Fargo & Company raised their price objective on shares of CenterPoint Energy from $28.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.00.

About CenterPoint Energy

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.