abrdn plc Acquires 45,710 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

abrdn plc boosted its holdings in CenterPoint Energy, Inc. (NYSE:CNPFree Report) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,143,997 shares of the utilities provider’s stock after buying an additional 45,710 shares during the period. abrdn plc owned approximately 0.18% of CenterPoint Energy worth $36,190,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. grew its holdings in shares of CenterPoint Energy by 566.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,744,742 shares of the utilities provider’s stock worth $51,330,000 after purchasing an additional 1,482,966 shares in the last quarter. Teilinger Capital Ltd. acquired a new stake in shares of CenterPoint Energy during the 3rd quarter worth approximately $26,478,000. Zimmer Partners LP boosted its stake in CenterPoint Energy by 98.1% in the 3rd quarter. Zimmer Partners LP now owns 1,536,640 shares of the utilities provider’s stock valued at $45,208,000 after buying an additional 760,956 shares in the last quarter. International Assets Investment Management LLC boosted its stake in CenterPoint Energy by 1,391.8% in the 3rd quarter. International Assets Investment Management LLC now owns 536,379 shares of the utilities provider’s stock valued at $157,800,000 after buying an additional 500,425 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in CenterPoint Energy by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 15,083,896 shares of the utilities provider’s stock valued at $442,231,000 after buying an additional 370,790 shares in the last quarter. 91.77% of the stock is owned by institutional investors.

CenterPoint Energy Stock Performance

Shares of NYSE CNP opened at $32.27 on Thursday. The stock has a 50 day moving average price of $32.04 and a 200 day moving average price of $29.89. CenterPoint Energy, Inc. has a 52 week low of $25.41 and a 52 week high of $33.12. 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 stock has a market capitalization of $21.03 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 2.62 and a beta of 0.95.

CenterPoint Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, February 20th. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.73%. CenterPoint Energy’s dividend payout ratio is 55.63%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CNP shares. StockNews.com downgraded CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Scotiabank upgraded CenterPoint Energy from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $30.00 to $35.00 in a research report on Thursday, December 12th. LADENBURG THALM/SH SH started coverage on CenterPoint Energy in a research report on Thursday, December 12th. They issued a “buy” rating and a $34.50 price objective for the company. UBS Group upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $31.00 to $37.00 in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company lifted their price objective on CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $31.46.

Get Our Latest Analysis on CenterPoint Energy

About CenterPoint Energy

(Free Report)

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.

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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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