Dynasty Wealth Management LLC Invests $432,000 in CenterPoint Energy, Inc. (NYSE:CNP)

Dynasty Wealth Management LLC bought a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,156 shares of the utilities provider’s stock, valued at approximately $432,000.

Several other large investors also recently bought and sold shares of CNP. FORA Capital LLC purchased a new position in CenterPoint Energy during the first quarter worth about $1,625,000. Bank of Nova Scotia boosted its position in CenterPoint Energy by 24.5% during the fourth quarter. Bank of Nova Scotia now owns 305,736 shares of the utilities provider’s stock worth $8,735,000 after acquiring an additional 60,223 shares during the last quarter. Duality Advisers LP boosted its position in CenterPoint Energy by 837.7% during the first quarter. Duality Advisers LP now owns 210,064 shares of the utilities provider’s stock worth $5,985,000 after acquiring an additional 187,662 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of CenterPoint Energy in the 1st quarter valued at $1,109,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of CenterPoint Energy by 86.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,413,899 shares of the utilities provider’s stock valued at $40,282,000 after purchasing an additional 655,327 shares during the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. KeyCorp cut their target price on shares of CenterPoint Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. StockNews.com downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Morgan Stanley downgraded shares of CenterPoint Energy from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $30.00 to $29.00 in a report on Wednesday, July 17th. BMO Capital Markets cut their price target on shares of CenterPoint Energy from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Scotiabank decreased their target price on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.50.

Insider Buying and Selling

In other news, Director Barry T. Smitherman sold 5,670 shares of CenterPoint Energy stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $29.42, for a total transaction of $166,811.40. Following the sale, the director now directly owns 21,203 shares in the company, valued at approximately $623,792.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by company insiders.

CenterPoint Energy Stock Performance

Shares of NYSE:CNP traded down $0.59 on Wednesday, hitting $27.92. The company had a trading volume of 6,001,165 shares, compared to its average volume of 4,768,627. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81. The stock has a 50 day moving average price of $30.01 and a 200 day moving average price of $28.88. CenterPoint Energy, Inc. has a 1-year low of $25.42 and a 1-year high of $31.57. The stock has a market cap of $17.86 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 2.57 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.88 billion. CenterPoint Energy had a net margin of 11.03% and a return on equity of 10.57%. During the same quarter in the prior year, the business earned $0.28 earnings per share. Analysts expect that CenterPoint Energy, Inc. will post 1.62 EPS for the current year.

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.