CenterPoint Energy (NYSE:CNP) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of CenterPoint Energy (NYSE:CNP) from a hold rating to a sell rating in a research note issued to investors on Sunday.

CNP has been the subject of a number of other reports. UBS Group decreased their target price on CenterPoint Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. Scotiabank raised their target price on shares of CenterPoint Energy from $42.00 to $45.00 and gave the stock a “sector outperform” rating in a research note on Friday, October 24th. BMO Capital Markets upgraded CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Tuesday, January 13th. JPMorgan Chase & Co. decreased their target price on CenterPoint Energy from $43.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, December 11th. Finally, Morgan Stanley reiterated an “underperform” rating and issued a $37.00 price objective on shares of CenterPoint Energy in a research note on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $41.82.

CenterPoint Energy Trading Up 0.2%

NYSE:CNP opened at $42.61 on Friday. The company has a 50 day simple moving average of $39.13 and a two-hundred day simple moving average of $38.91. The company has a market cap of $27.82 billion, a PE ratio of 26.97, a price-to-earnings-growth 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 has a 12 month low of $33.24 and a 12 month high of $43.09.

CenterPoint Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 19th will be paid a dividend of $0.23 per share. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, February 19th. This represents a $0.92 annualized dividend and a dividend yield of 2.2%. CenterPoint Energy’s dividend payout ratio is presently 55.70%.

Hedge Funds Weigh In On CenterPoint Energy

A number of institutional investors have recently made changes to their positions in CNP. AE Wealth Management LLC increased its holdings in CenterPoint Energy by 3.3% in the 3rd quarter. AE Wealth Management LLC now owns 486,551 shares of the utilities provider’s stock valued at $18,878,000 after purchasing an additional 15,754 shares in the last quarter. Reaves W H & Co. Inc. boosted its position in shares of CenterPoint Energy by 15.4% in the third quarter. Reaves W H & Co. Inc. now owns 7,220,266 shares of the utilities provider’s stock worth $280,146,000 after buying an additional 962,910 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of CenterPoint Energy by 23.3% in the third quarter. Exchange Traded Concepts LLC now owns 171,036 shares of the utilities provider’s stock valued at $6,636,000 after buying an additional 32,344 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of CenterPoint Energy by 31.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 350,798 shares of the utilities provider’s stock valued at $13,611,000 after buying an additional 83,127 shares during the period. Finally, Norges Bank acquired a new position in CenterPoint Energy during the 2nd quarter worth approximately $313,456,000. 91.77% of the stock is owned by institutional investors and hedge funds.

CenterPoint Energy Company Profile

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.