LS Investment Advisors LLC grew its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 4.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 57,306 shares of the utilities provider’s stock after acquiring an additional 2,260 shares during the quarter. LS Investment Advisors LLC’s holdings in CenterPoint Energy were worth $1,625,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in CNP. Tortoise Investment Management LLC acquired a new position in shares of CenterPoint Energy in the 3rd quarter valued at about $120,000. SeaCrest Wealth Management LLC acquired a new position in shares of CenterPoint Energy in the 4th quarter valued at about $135,000. Welch Group LLC acquired a new position in shares of CenterPoint Energy in the 4th quarter valued at about $148,000. Eagle Ridge Investment Management acquired a new position in shares of CenterPoint Energy in the 3rd quarter valued at about $201,000. Finally, Buckingham Asset Management LLC acquired a new position in shares of CenterPoint Energy in the 3rd quarter valued at about $201,000. 77.85% of the stock is currently owned by institutional investors.
In related news, CEO Scott M. Prochazka sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $27.91, for a total transaction of $27,910.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 3,000 shares of company stock worth $85,410. 0.20% of the stock is owned by company insiders.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 15th will be paid a dividend of $0.2775 per share. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.27. This represents a $1.11 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Wednesday, February 14th. CenterPoint Energy’s dividend payout ratio is 78.10%.
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Tuesday, January 16th. SunTrust Banks reissued a “hold” rating and issued a $28.00 price objective on shares of CenterPoint Energy in a research note on Tuesday, December 26th. Citigroup boosted their price objective on CenterPoint Energy from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, November 20th. Guggenheim downgraded CenterPoint Energy from a “buy” rating to a “neutral” rating in a research note on Monday, December 4th. They noted that the move was a valuation call. Finally, Bank of America initiated coverage on CenterPoint Energy in a research note on Tuesday, October 24th. They set a “neutral” rating and a $30.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $29.22.
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CenterPoint Energy Profile
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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