Prime Capital Investment Advisors LLC Has $418,000 Stock Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Prime Capital Investment Advisors LLC lowered its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 10.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,205 shares of the utilities provider’s stock after selling 1,746 shares during the period. Prime Capital Investment Advisors LLC’s holdings in CenterPoint Energy were worth $418,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. KeyCorp lowered CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their price objective on CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Bank of America began coverage on shares of CenterPoint Energy in a report on Thursday, September 12th. They set a “neutral” rating and a $29.00 target price on the stock. Scotiabank raised their price target 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. Finally, Morgan Stanley boosted their price objective on shares of CenterPoint Energy from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, CenterPoint Energy currently has an average rating of “Hold” and a consensus price target of $30.09.

CenterPoint Energy Trading Up 2.9 %

NYSE CNP opened at $30.86 on Friday. The stock has a market capitalization of $20.11 billion, a P/E ratio of 20.44, a P/E/G ratio of 2.64 and a beta of 0.92. The business has a 50 day simple moving average of $29.32 and a 200 day simple moving average of $29.09. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.92. CenterPoint Energy, Inc. has a one year low of $25.41 and a one year high of $31.57.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Monday, October 28th. The utilities provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. CenterPoint Energy had a net margin of 11.25% and a return on equity of 9.73%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the firm posted $0.40 EPS. Research analysts expect that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current year.

CenterPoint Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.84 annualized dividend and a dividend yield of 2.72%. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.20. CenterPoint Energy’s dividend payout ratio is currently 52.98%.

About CenterPoint Energy

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.