Ferguson Wellman Capital Management Inc. cut its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 8.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 54,523 shares of the utilities provider’s stock after selling 4,730 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in CenterPoint Energy were worth $1,539,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Sound Income Strategies LLC boosted its holdings 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 valued at $32,000 after purchasing an additional 1,000 shares during the period. FNY Investment Advisers LLC boosted its holdings in 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 during the period. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in CenterPoint Energy by 422.1% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,396 shares of the utilities provider’s stock valued at $177,000 after purchasing an additional 5,171 shares during the period. Fort Washington Investment Advisors Inc. OH purchased a new position in CenterPoint Energy in the third quarter valued at $200,000. Finally, UMB Bank N A MO purchased a new position in CenterPoint Energy in the third quarter valued at $210,000. Hedge funds and other institutional investors own 79.37% of the company’s stock.
CenterPoint Energy stock opened at $29.54 on Friday. CenterPoint Energy, Inc. has a 1-year low of $24.81 and a 1-year high of $29.72. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 1.06. The firm has a market capitalization of $14.80 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 2.94 and a beta of 0.39.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Thursday, February 21st will be paid a $0.2875 dividend. The ex-dividend date of this dividend is Wednesday, February 20th. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.28. This represents a $1.15 dividend on an annualized basis and a yield of 3.89%. CenterPoint Energy’s dividend payout ratio (DPR) is currently 81.02%.
In other news, CEO Scott M. Prochazka sold 4,000 shares of CenterPoint Energy stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $28.17, for a total transaction of $112,680.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 12,000 shares of company stock worth $332,520. 0.22% of the stock is owned by insiders.
A number of research firms recently issued reports on CNP. Zacks Investment Research upgraded CenterPoint Energy from a “hold” rating to a “strong-buy” rating and set a $33.00 target price for the company in a report on Tuesday, January 8th. Guggenheim upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating in a research note on Monday, January 7th. Wells Fargo & Co restated a “buy” rating on shares of CenterPoint Energy in a research note on Monday, December 24th. UBS Group upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $30.00 to $34.00 in a research note on Thursday, December 13th. Finally, Barclays set a $31.00 price target on CenterPoint Energy and gave the company a “hold” rating in a research note on Saturday, November 17th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. CenterPoint Energy has a consensus rating of “Buy” and an average target price of $30.10.
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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