CenterPoint Energy, Inc. (CNP) Stake Increased by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. lifted its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 27.9% in the third quarter, HoldingsChannel reports. The firm owned 138,500 shares of the utilities provider’s stock after purchasing an additional 30,200 shares during the quarter. Icon Advisers Inc. Co.’s holdings in CenterPoint Energy were worth $3,830,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CNP. Braun Bostich & Associates Inc. increased its holdings in shares of CenterPoint Energy by 1,372.0% in the second quarter. Braun Bostich & Associates Inc. now owns 4,151 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 3,869 shares in the last quarter. Ropes Wealth Advisors LLC acquired a new stake in shares of CenterPoint Energy in the second quarter valued at approximately $130,000. Signet Financial Management LLC increased its holdings in shares of CenterPoint Energy by 649.6% in the second quarter. Signet Financial Management LLC now owns 5,322 shares of the utilities provider’s stock valued at $147,000 after purchasing an additional 4,612 shares in the last quarter. FNY Investment Advisers LLC increased its holdings in shares of CenterPoint Energy by 2,962.2% in the third quarter. FNY Investment Advisers LLC now owns 6,400 shares of the utilities provider’s stock valued at $176,000 after purchasing an additional 6,191 shares in the last quarter. Finally, UMB Bank N A MO acquired a new stake in shares of CenterPoint Energy in the third quarter valued at approximately $210,000. 67.52% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on CNP shares. Zacks Investment Research raised shares of CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Monday, July 23rd. ValuEngine raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. JPMorgan Chase & Co. raised shares of CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 price objective on the stock in a research note on Wednesday, September 5th. Barclays started coverage on shares of CenterPoint Energy in a research note on Monday, October 22nd. They issued a “hold” rating and a $30.00 price objective on the stock. Finally, Wells Fargo & Co raised shares of CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Monday, October 8th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $29.33.

In other CenterPoint Energy news, CEO Scott M. Prochazka sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $27.09, for a total value of $108,360.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by company insiders.

Shares of CNP stock opened at $28.32 on Thursday. CenterPoint Energy, Inc. has a 52-week low of $24.81 and a 52-week high of $30.17. The company has a market capitalization of $13.93 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 2.99 and a beta of 0.43. The company has a current ratio of 0.95, a quick ratio of 0.83 and a debt-to-equity ratio of 1.66.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 15th will be paid a $0.2775 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $1.11 dividend on an annualized basis and a yield of 3.92%. CenterPoint Energy’s payout ratio is presently 81.02%.

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CenterPoint Energy Profile

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

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