CenterPoint Energy (NYSE:CNP) Reaches New 12-Month High – Should You Buy?

Shares of CenterPoint Energy, Inc. (NYSE:CNP) hit a new 52-week high on Tuesday . The company traded as high as $43.09 and last traded at $42.72, with a volume of 320528 shares trading hands. The stock had previously closed at $42.52.

Analyst Ratings Changes

A number of research firms recently commented on CNP. BMO Capital Markets raised shares of CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research report on Tuesday, January 13th. Morgan Stanley reaffirmed an “underperform” rating and set a $37.00 price target on shares of CenterPoint Energy in a research report on Wednesday, January 21st. JPMorgan Chase & Co. lowered their price objective on CenterPoint Energy from $43.00 to $41.00 and set a “neutral” rating for the company in a research report on Thursday, December 11th. Wall Street Zen lowered CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Mizuho set a $42.00 price target on shares of CenterPoint Energy in a report on Tuesday, October 21st. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $41.82.

CenterPoint Energy Price Performance

The firm’s fifty day moving average price is $39.04 and its 200 day moving average price is $38.88. The firm has a market capitalization of $27.99 billion, a PE ratio of 27.12, a P/E/G ratio of 2.52 and a beta of 0.59. The company has a current ratio of 0.51, a quick ratio of 0.38 and a debt-to-equity ratio of 1.76.

CenterPoint Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 19th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, February 19th. This represents a $0.92 annualized dividend and a yield of 2.1%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.22. CenterPoint Energy’s payout ratio is 55.70%.

Institutional Trading of CenterPoint Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Maryland State Retirement & Pension System lifted its holdings in CenterPoint Energy by 1.6% in the fourth quarter. Maryland State Retirement & Pension System now owns 646,928 shares of the utilities provider’s stock valued at $24,803,000 after acquiring an additional 10,072 shares during the period. Captrust Financial Advisors increased its holdings in shares of CenterPoint Energy by 9.0% during the 4th quarter. Captrust Financial Advisors now owns 210,864 shares of the utilities provider’s stock valued at $8,085,000 after purchasing an additional 17,442 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in CenterPoint Energy during the fourth quarter worth $187,000. Delta Global Management LP purchased a new stake in CenterPoint Energy during the fourth quarter worth $1,854,000. Finally, Rakuten Investment Management Inc. grew its position in CenterPoint Energy by 146.9% during the fourth quarter. Rakuten Investment Management Inc. now owns 85,884 shares of the utilities provider’s stock valued at $3,300,000 after buying an additional 51,101 shares during the period. 91.77% of the stock is owned by institutional investors and hedge funds.

About CenterPoint Energy

CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.