Charles Schwab Investment Management Inc. Has $116.40 Million Stock Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Charles Schwab Investment Management Inc. raised its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 2.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,956,432 shares of the utilities provider’s stock after buying an additional 110,905 shares during the period. Charles Schwab Investment Management Inc. owned 0.61% of CenterPoint Energy worth $116,398,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rothschild Investment LLC bought a new position in shares of CenterPoint Energy in the 2nd quarter valued at $33,000. Olistico Wealth LLC bought a new position in CenterPoint Energy in the second quarter valued at about $33,000. First Horizon Advisors Inc. raised its position in CenterPoint Energy by 51.3% in the third quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 375 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of CenterPoint Energy during the second quarter worth about $36,000. Finally, Kimelman & Baird LLC acquired a new position in shares of CenterPoint Energy in the second quarter valued at approximately $43,000. Institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Trading Up 1.8 %

NYSE CNP opened at $32.49 on Tuesday. The stock has a market capitalization of $21.17 billion, a P/E ratio of 21.52, a P/E/G ratio of 2.77 and a beta of 0.92. The business has a 50 day simple moving average of $29.79 and a 200 day simple moving average of $29.18. 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 $32.61.

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. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.88 billion. CenterPoint Energy had a net margin of 11.25% and a return on equity of 9.73%. 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 is Thursday, November 21st. This represents a $0.84 annualized dividend and a dividend yield of 2.59%. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.20. CenterPoint Energy’s dividend payout ratio is currently 55.63%.

Analysts Set New Price Targets

Several research firms recently commented on CNP. KeyCorp downgraded shares of CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 2nd. Bank of America assumed coverage on shares of CenterPoint Energy in a report on Thursday, September 12th. They set a “neutral” rating and a $29.00 price target on the stock. Morgan Stanley decreased their price objective on CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday. BMO Capital Markets reaffirmed a “market perform” rating and set a $28.00 target price on shares of CenterPoint Energy in a report on Monday, August 26th. Finally, Scotiabank upped their price target on CenterPoint Energy from $28.00 to $30.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.00.

CenterPoint Energy Company Profile

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.