CenterPoint Energy, Inc. $CNP Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 10.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,195,979 shares of the utilities provider’s stock after purchasing an additional 701,167 shares during the quarter. Pictet Asset Management Holding SA owned about 1.09% of CenterPoint Energy worth $264,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in shares of CenterPoint Energy by 4.0% during the 3rd quarter. Parallel Advisors LLC now owns 7,016 shares of the utilities provider’s stock worth $258,000 after buying an additional 273 shares in the last quarter. Alps Advisors Inc. grew its position in shares of CenterPoint Energy by 7.9% during the 3rd quarter. Alps Advisors Inc. now owns 77,387 shares of the utilities provider’s stock worth $2,848,000 after buying an additional 5,680 shares during the period. Ashton Thomas Private Wealth LLC increased its stake in shares of CenterPoint Energy by 11.3% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 11,678 shares of the utilities provider’s stock valued at $430,000 after acquiring an additional 1,186 shares in the last quarter. Heritage Family Offices LLP bought a new stake in shares of CenterPoint Energy in the 3rd quarter valued at $73,000. Finally, Chicago Partners Investment Group LLC increased its stake in shares of CenterPoint Energy by 17.4% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 6,754 shares of the utilities provider’s stock valued at $277,000 after acquiring an additional 1,001 shares in the last quarter. 91.77% of the stock is owned by institutional investors and hedge funds.

CenterPoint Energy Price Performance

Shares of NYSE:CNP opened at $40.66 on Friday. CenterPoint Energy, Inc. has a twelve month low of $36.37 and a twelve month high of $45.26. The stock’s 50 day moving average is $39.37 and its 200-day moving average is $41.59. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $26.95 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 2.69 and a beta of 0.43.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.03. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.17 billion. CenterPoint Energy had a net margin of 11.76% and a return on equity of 11.16%. During the same quarter last year, the firm posted $0.50 EPS. Sell-side analysts forecast that CenterPoint Energy, Inc. will post 1.91 EPS for the current fiscal year.

CenterPoint Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 19th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, November 19th. CenterPoint Energy’s dividend payout ratio (DPR) is currently 54.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wall Street Zen upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Truist Financial dropped their price objective on shares of CenterPoint Energy from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, October 12th. Citigroup cut their price objective on shares of CenterPoint Energy from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, October 8th. JPMorgan Chase & Co. reduced their target price on CenterPoint Energy from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, October 13th. Finally, HSBC started coverage on CenterPoint Energy in a research note on Thursday, October 22nd. They issued a “buy” rating and a $44.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, CenterPoint Energy currently has an average rating of “Moderate Buy” and a consensus target price of $44.29.

About CenterPoint Energy

CenterPoint Energy, Inc is a regulated energy delivery company based in Houston, Texas. Its main businesses are electric transmission and distribution and natural gas distribution, connecting customers to energy and maintaining the infrastructure that delivers it.

The company’s electric utility operations serve the Houston area, while its natural gas utilities serve customers in Texas, Indiana, Minnesota and Ohio. CenterPoint Energy’s services include operating and maintaining power lines, gas distribution systems and related utility infrastructure.

The company adopted the CenterPoint Energy name in 2002 following a restructuring of Reliant Energy.