Cinctive Capital Management LP Purchases Shares of 200,591 CenterPoint Energy, Inc. (NYSE:CNP)

Cinctive Capital Management LP acquired a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 200,591 shares of the utilities provider’s stock, valued at approximately $5,901,000.

Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in CenterPoint Energy by 185.7% during the second quarter. Assenagon Asset Management S.A. now owns 235,223 shares of the utilities provider’s stock worth $7,287,000 after buying an additional 152,878 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of CenterPoint Energy by 18.7% during the 2nd quarter. Baillie Gifford & Co. now owns 78,838 shares of the utilities provider’s stock worth $2,442,000 after acquiring an additional 12,422 shares during the period. Bank of Montreal Can lifted its holdings in shares of CenterPoint Energy by 13.4% during the 2nd quarter. Bank of Montreal Can now owns 1,052,237 shares of the utilities provider’s stock worth $32,630,000 after acquiring an additional 124,529 shares during the period. DRW Securities LLC acquired a new stake in shares of CenterPoint Energy in the third quarter worth approximately $908,000. Finally, Swiss National Bank grew its holdings in CenterPoint Energy by 1.3% in the third quarter. Swiss National Bank now owns 1,898,800 shares of the utilities provider’s stock valued at $55,863,000 after purchasing an additional 24,400 shares during the period. Institutional investors and hedge funds own 91.77% of the company’s stock.

CenterPoint Energy Stock Down 0.1 %

Shares of NYSE:CNP opened at $32.62 on Monday. The company has a 50 day moving average of $30.14 and a two-hundred day moving average of $29.27. CenterPoint Energy, Inc. has a 52-week low of $25.41 and a 52-week high of $32.86. The company has a quick ratio of 0.92, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $21.26 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 2.83 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Monday, October 28th. The utilities provider reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. CenterPoint Energy had a net margin of 11.25% and a return on equity of 9.73%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the business earned $0.40 EPS. 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.21 dividend. 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 2.58%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.20. CenterPoint Energy’s dividend payout ratio is currently 55.63%.

Analyst Upgrades and Downgrades

CNP has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Bank of America started coverage on CenterPoint Energy in a report on Thursday, September 12th. They issued a “neutral” rating and a $29.00 target price on the stock. Scotiabank upped their price target on CenterPoint Energy from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 29th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $28.00 price objective on shares of CenterPoint Energy in a research note on Monday, August 26th. Finally, Morgan Stanley dropped 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 report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.00.

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.