Cadence Capital Management LLC lowered its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,658 shares of the utilities provider’s stock after selling 3,198 shares during the period. Cadence Capital Management LLC’s holdings in CenterPoint Energy were worth $501,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its stake in shares of CenterPoint Energy by 6.8% during the third quarter. Ameriprise Financial Inc. now owns 9,550,152 shares of the utilities provider’s stock valued at $278,959,000 after buying an additional 611,608 shares during the period. APG Asset Management N.V. increased its stake in shares of CenterPoint Energy by 24.3% during the fourth quarter. APG Asset Management N.V. now owns 8,968,519 shares of the utilities provider’s stock valued at $211,815,000 after buying an additional 1,754,009 shares during the period. JPMorgan Chase & Co. increased its stake in shares of CenterPoint Energy by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 8,583,166 shares of the utilities provider’s stock valued at $250,198,000 after buying an additional 554,719 shares during the period. Janus Henderson Group PLC increased its stake in shares of CenterPoint Energy by 3.1% during the third quarter. Janus Henderson Group PLC now owns 4,693,486 shares of the utilities provider’s stock valued at $137,096,000 after buying an additional 143,291 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of CenterPoint Energy by 145.5% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 4,350,657 shares of the utilities provider’s stock valued at $127,083,000 after buying an additional 2,578,527 shares during the period. Hedge funds and other institutional investors own 77.85% of the company’s stock.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of CenterPoint Energy stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $29.39, for a total value of $29,390.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 3,000 shares of company stock worth $85,410 in the last quarter. 0.20% of the stock is owned by insiders.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 15th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.27. CenterPoint Energy’s payout ratio is 78.10%.
Several equities analysts have recently commented on CNP shares. Zacks Investment Research upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Wednesday. SunTrust Banks restated a “hold” rating and set a $28.00 price target on shares of CenterPoint Energy in a research note on Tuesday, December 26th. Citigroup raised their price target on CenterPoint Energy from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, November 20th. Bank of America started 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. Finally, Guggenheim lowered 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. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $29.11.
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About CenterPoint Energy
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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