CenterPoint Energy (NYSE:CNP) Reaches New 1-Year High – Here’s Why

Shares of CenterPoint Energy, Inc. (NYSE:CNP) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $33.13 and last traded at $33.12, with a volume of 1037720 shares changing hands. The stock had previously closed at $32.58.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Guggenheim cut shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Morgan Stanley lowered their target price on shares of CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Friday, November 22nd. LADENBURG THALM/SH SH started coverage on shares of CenterPoint Energy in a research note on Thursday, December 12th. They issued a “buy” rating and a $34.50 target price on the stock. Finally, StockNews.com cut shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $31.46.

CenterPoint Energy Price Performance

The stock’s 50-day moving average price is $32.05 and its 200-day moving average price is $30.01. The company has a market capitalization of $21.74 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 2.61 and a beta of 0.95. The company has a quick ratio of 0.92, a current ratio of 1.11 and a debt-to-equity ratio of 1.87.

CenterPoint Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be issued a $0.22 dividend. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.64%. The ex-dividend date is Thursday, February 20th. CenterPoint Energy’s dividend payout ratio is currently 55.63%.

Hedge Funds Weigh In On CenterPoint Energy

Several large investors have recently bought and sold shares of CNP. J.Safra Asset Management Corp bought a new stake in shares of CenterPoint Energy during the fourth quarter worth $28,000. Wilmington Savings Fund Society FSB acquired a new position in shares of CenterPoint Energy in the third quarter valued at approximately $26,000. Assetmark Inc. grew its position in CenterPoint Energy by 657.1% during the fourth quarter. Assetmark Inc. now owns 901 shares of the utilities provider’s stock worth $29,000 after buying an additional 782 shares in the last quarter. VSM Wealth Advisory LLC acquired a new stake in CenterPoint Energy during the fourth quarter worth approximately $32,000. Finally, First Horizon Advisors Inc. grew its position in CenterPoint Energy by 51.3% during the third quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock worth $33,000 after buying an additional 375 shares in the last quarter. 91.77% of the stock is currently owned by institutional investors and hedge funds.

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.