Massachusetts Financial Services Co. MA Has $175.05 Million Position in CenterPoint Energy, Inc. (NYSE:CNP)

Massachusetts Financial Services Co. MA trimmed its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,650,410 shares of the utilities provider’s stock after selling 57,913 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.88% of CenterPoint Energy worth $175,050,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CNP. Crewe Advisors LLC bought a new position in shares of CenterPoint Energy during the 1st quarter worth about $25,000. Olistico Wealth LLC bought a new position in CenterPoint Energy in the second quarter worth approximately $33,000. Rothschild Investment LLC acquired a new stake in CenterPoint Energy in the second quarter valued at approximately $33,000. FinTrust Capital Advisors LLC raised its position in shares of CenterPoint Energy by 60.3% during the first quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 452 shares during the period. Finally, Tobam bought a new position in shares of CenterPoint Energy in the 1st quarter worth $35,000. 91.77% of the stock is owned by institutional investors.

CenterPoint Energy Stock Up 0.4 %

Shares of NYSE:CNP opened at $28.32 on Wednesday. The company has a market capitalization of $18.12 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 2.46 and a beta of 0.92. CenterPoint Energy, Inc. has a 1 year low of $25.41 and a 1 year high of $31.57. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.20 and a quick ratio of 0.99. The business has a fifty day moving average price of $27.59 and a two-hundred day moving average price of $28.67.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. During the same quarter in the prior year, the business earned $0.28 earnings per share. Analysts forecast that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current year.

CenterPoint Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.80 annualized dividend and a yield of 2.82%. CenterPoint Energy’s payout ratio is 56.34%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CNP. Morgan Stanley boosted their price target on shares of CenterPoint Energy from $29.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Bank of America started coverage on shares of CenterPoint Energy in a research report on Thursday, September 12th. They set a “neutral” rating and a $29.00 target price for the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $28.00 price target on shares of CenterPoint Energy in a research report on Monday, August 26th. JPMorgan Chase & Co. lowered CenterPoint Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $32.00 to $29.00 in a report on Friday, August 2nd. Finally, KeyCorp lowered CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $29.36.

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.