CIBC Asset Management Inc Has $2.77 Million Stake in CenterPoint Energy, Inc. (NYSE:CNP)

CIBC Asset Management Inc boosted its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 10.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,230 shares of the utilities provider’s stock after buying an additional 8,534 shares during the quarter. CIBC Asset Management Inc’s holdings in CenterPoint Energy were worth $2,772,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNP. Crewe Advisors LLC acquired a new position in CenterPoint Energy during the first quarter valued at approximately $25,000. Olistico Wealth LLC acquired a new stake in CenterPoint Energy during the second quarter worth about $33,000. Rothschild Investment LLC acquired a new position in CenterPoint Energy in the 2nd quarter valued at approximately $33,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of CenterPoint Energy in the 2nd quarter worth approximately $36,000. Finally, Kimelman & Baird LLC acquired a new position in shares of CenterPoint Energy in the second quarter valued at $43,000. 91.77% of the stock is owned by hedge funds and other institutional investors.

CenterPoint Energy Stock Up 0.9 %

CNP opened at $31.15 on Tuesday. The stock has a market cap of $20.30 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 2.68 and a beta of 0.92. The company has a current ratio of 1.11, a quick ratio of 0.92 and a debt-to-equity ratio of 1.87. The stock’s fifty day simple moving average is $29.40 and its 200 day simple moving average is $29.10. CenterPoint Energy, Inc. has a 1-year low of $25.41 and a 1-year high of $31.57.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Monday, October 28th. The utilities provider reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. CenterPoint Energy had a return on equity of 9.73% and a net margin of 11.25%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the company earned $0.40 earnings per share. As a group, research analysts expect that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current year.

CenterPoint Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.70%. CenterPoint Energy’s dividend payout ratio is presently 55.63%.

Analyst Ratings Changes

A number of research firms recently weighed in on CNP. Scotiabank upped their target price on shares of CenterPoint Energy from $28.00 to $30.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 29th. Wells Fargo & Company raised their price target on CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lowered shares of CenterPoint Energy from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $32.00 to $29.00 in a research report on Friday, August 2nd. KeyCorp cut CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley upped their target price on shares of CenterPoint Energy from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.09.

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.