Amalgamated Bank Sells 1,995 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Amalgamated Bank lessened its position in CenterPoint Energy, Inc. (NYSE:CNP) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 125,312 shares of the utilities provider’s stock after selling 1,995 shares during the quarter. Amalgamated Bank’s holdings in CenterPoint Energy were worth $3,976,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CNP. BankPlus Trust Department bought a new position in shares of CenterPoint Energy during the 4th quarter valued at about $40,000. Leeward Investments LLC MA grew its position in CenterPoint Energy by 28.9% during the fourth quarter. Leeward Investments LLC MA now owns 269,508 shares of the utilities provider’s stock valued at $8,551,000 after acquiring an additional 60,370 shares during the last quarter. Fisher Funds Management LTD purchased a new position in shares of CenterPoint Energy during the fourth quarter worth approximately $4,764,000. Blackston Financial Advisory Group LLC bought a new stake in shares of CenterPoint Energy in the 4th quarter worth approximately $215,000. Finally, Truist Financial Corp boosted its stake in shares of CenterPoint Energy by 2.5% in the 4th quarter. Truist Financial Corp now owns 85,759 shares of the utilities provider’s stock valued at $2,721,000 after purchasing an additional 2,069 shares in the last quarter. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley decreased their target price on shares of CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Guggenheim lowered CenterPoint Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Barclays raised their price target on CenterPoint Energy from $29.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, January 27th. LADENBURG THALM/SH SH assumed 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. Finally, UBS Group raised CenterPoint Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $31.00 to $37.00 in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $31.65.

CenterPoint Energy Stock Performance

Shares of CNP stock opened at $34.38 on Friday. The firm has a market capitalization of $22.41 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 2.71 and a beta of 0.95. The stock has a fifty day moving average of $32.56 and a 200 day moving average of $30.56. CenterPoint Energy, Inc. has a 52 week low of $25.41 and a 52 week high of $34.49. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.91.

CenterPoint Energy (NYSE:CNP) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.46 billion. CenterPoint Energy had a net margin of 11.79% and a return on equity of 10.02%. As a group, research analysts expect that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

CenterPoint Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.56%. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, February 20th. CenterPoint Energy’s payout ratio is presently 55.35%.

CenterPoint Energy 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.