Energy Income Partners LLC Sells 44,374 Shares of CenterPoint Energy, Inc. $CNP

Energy Income Partners LLC reduced its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 2.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,117,813 shares of the utilities provider’s stock after selling 44,374 shares during the period. CenterPoint Energy comprises approximately 1.5% of Energy Income Partners LLC’s portfolio, making the stock its 23rd biggest holding. Energy Income Partners LLC’s holdings in CenterPoint Energy were worth $91,405,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Excelsior Advisor Network LLC purchased a new position in shares of CenterPoint Energy during the first quarter worth approximately $389,000. Quantinno Capital Management LP boosted its stake in shares of CenterPoint Energy by 37.1% in the 1st quarter. Quantinno Capital Management LP now owns 265,844 shares of the utilities provider’s stock valued at $11,474,000 after purchasing an additional 71,954 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its stake in shares of CenterPoint Energy by 29.9% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 29,418 shares of the utilities provider’s stock valued at $1,270,000 after purchasing an additional 6,775 shares in the last quarter. Waverly Advisors LLC boosted its stake in shares of CenterPoint Energy by 14.1% in the 1st quarter. Waverly Advisors LLC now owns 9,231 shares of the utilities provider’s stock valued at $398,000 after purchasing an additional 1,139 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in shares of CenterPoint Energy during the 1st quarter valued at $13,587,000. 91.77% of the stock is owned by hedge funds and other institutional investors.

CenterPoint Energy Trading Down 1.2%

NYSE:CNP opened at $44.01 on Tuesday. The firm has a market capitalization of $28.79 billion, a P/E ratio of 27.00, a P/E/G ratio of 2.64 and a beta of 0.46. The company has a quick ratio of 1.04, a current ratio of 1.16 and a debt-to-equity ratio of 1.96. The company has a fifty day moving average of $43.20 and a 200 day moving average of $42.37. CenterPoint Energy, Inc. has a 52 week low of $36.60 and a 52 week high of $45.22.

CenterPoint Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 20th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, August 20th. CenterPoint Energy’s payout ratio is currently 56.44%.

Wall Street Analysts Forecast Growth

CNP has been the topic of a number of analyst reports. Jefferies Financial Group set a $50.00 target price on shares of CenterPoint Energy in a research report on Thursday, June 18th. Bank of America raised their price objective on CenterPoint Energy from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. BMO Capital Markets decreased their price objective on CenterPoint Energy from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Wednesday, July 22nd. Wells Fargo & Company reiterated an “overweight” rating and issued a $48.00 price objective on shares of CenterPoint Energy in a report on Tuesday, April 21st. Finally, KeyCorp lowered their target price on CenterPoint Energy from $47.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, July 23rd. Eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.38.

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.