Raleigh Capital Management Inc. Sells 617 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Raleigh Capital Management Inc. reduced its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 8.1% in the fourth quarter, Holdings Channel reports. The fund owned 6,981 shares of the utilities provider’s stock after selling 617 shares during the quarter. Raleigh Capital Management Inc.’s holdings in CenterPoint Energy were worth $221,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new stake in shares of CenterPoint Energy in the 3rd quarter valued at approximately $26,000. First Horizon Advisors Inc. lifted its position in CenterPoint Energy by 51.3% in the third quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock worth $33,000 after buying an additional 375 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in CenterPoint Energy during the second quarter worth $36,000. MassMutual Private Wealth & Trust FSB increased its position in CenterPoint Energy by 53.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,392 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 482 shares during the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in CenterPoint Energy in the 2nd quarter worth about $43,000. 91.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CNP has been the topic of several research analyst reports. Wells Fargo & Company increased their target price on CenterPoint Energy from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. StockNews.com downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. UBS Group raised shares of CenterPoint Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $31.00 to $37.00 in a research report on Tuesday, December 3rd. LADENBURG THALM/SH SH started coverage on CenterPoint Energy in a research report on Thursday, December 12th. They set a “buy” rating and a $34.50 target price on the stock. Finally, Scotiabank raised shares of CenterPoint Energy from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $30.00 to $35.00 in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $31.38.

CenterPoint Energy Stock Up 0.0 %

Shares of CenterPoint Energy stock opened at $32.46 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. CenterPoint Energy, Inc. has a 52-week low of $25.41 and a 52-week high of $33.12. The company has a market capitalization of $21.15 billion, a P/E ratio of 21.49, a P/E/G ratio of 2.66 and a beta of 0.95. The company has a 50 day moving average of $31.92 and a 200 day moving average of $29.68.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Monday, October 28th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.88 billion. CenterPoint Energy had a return on equity of 9.73% and a net margin of 11.25%. During the same period in the prior year, the firm posted $0.40 EPS. As a group, research analysts forecast that CenterPoint Energy, Inc. will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Thursday, February 20th. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.21. CenterPoint Energy’s dividend payout ratio (DPR) is currently 55.63%.

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.