Candriam Luxembourg S.C.A. boosted its position in CenterPoint Energy, Inc. (NYSE:CNP) by 19.4% during the 1st quarter, Holdings Channel reports. The firm owned 371,801 shares of the utilities provider’s stock after purchasing an additional 60,331 shares during the period. Candriam Luxembourg S.C.A.’s holdings in CenterPoint Energy were worth $12,611,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Financial Architects Inc purchased a new position in CenterPoint Energy in the fourth quarter worth about $28,000. PRW Wealth Management LLC purchased a new position in CenterPoint Energy in the fourth quarter worth about $29,000. Flagship Harbor Advisors LLC boosted its position in CenterPoint Energy by 174.6% in the first quarter. Flagship Harbor Advisors LLC now owns 950 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 604 shares during the last quarter. Claybrook Capital LLC purchased a new position in CenterPoint Energy in the fourth quarter worth about $31,000. Finally, Sound Income Strategies LLC boosted its position in CenterPoint Energy by 793.7% in the fourth quarter. Sound Income Strategies LLC now owns 1,126 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 1,000 shares during the last quarter. 81.73% of the stock is currently owned by institutional investors and hedge funds.
CNP stock opened at $30.81 on Wednesday. CenterPoint Energy, Inc. has a twelve month low of $25.10 and a twelve month high of $31.42. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.01 and a current ratio of 2.13. The stock has a market cap of $15.57 billion, a PE ratio of 19.26, a P/E/G ratio of 3.61 and a beta of 0.45.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.2875 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.73%. CenterPoint Energy’s payout ratio is currently 71.88%.
In related news, VP Joseph John Vortherms sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $30.10, for a total value of $60,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Milton Carroll sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $30.21, for a total value of $2,265,750.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,000 shares of company stock worth $4,077,030. Insiders own 0.24% of the company’s stock.
Several brokerages have issued reports on CNP. Goldman Sachs Group began coverage on CenterPoint Energy in a research report on Monday, February 25th. They issued a “buy” rating and a $34.00 target price on the stock. ValuEngine raised CenterPoint Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Zacks Investment Research cut CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Credit Suisse Group set a $33.00 price objective on CenterPoint Energy and gave the company a “buy” rating in a research report on Monday, April 22nd. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of CenterPoint Energy in a research report on Thursday, February 28th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. CenterPoint Energy currently has a consensus rating of “Buy” and a consensus target price of $32.44.
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About CenterPoint Energy
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
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