Pegasus Partners Ltd. Has $1.24 Million Stake in CenterPoint Energy, Inc. (CNP)
Pegasus Partners Ltd. lifted its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 34.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 43,689 shares of the utilities provider’s stock after purchasing an additional 11,104 shares during the period. Pegasus Partners Ltd.’s holdings in CenterPoint Energy were worth $1,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of the company. Thrivent Financial For Lutherans boosted its stake in CenterPoint Energy by 2.7% during the second quarter. Thrivent Financial For Lutherans now owns 16,660 shares of the utilities provider’s stock valued at $456,000 after buying an additional 440 shares during the period. Dimensional Fund Advisors LP boosted its stake in CenterPoint Energy by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,027,759 shares of the utilities provider’s stock valued at $28,141,000 after buying an additional 10,373 shares during the period. Gotham Asset Management LLC boosted its stake in CenterPoint Energy by 87.1% during the second quarter. Gotham Asset Management LLC now owns 33,702 shares of the utilities provider’s stock valued at $923,000 after buying an additional 15,688 shares during the period. BlueCrest Capital Management Ltd bought a new stake in CenterPoint Energy during the second quarter valued at $372,000. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in CenterPoint Energy by 3.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 52,079 shares of the utilities provider’s stock valued at $1,426,000 after buying an additional 1,791 shares during the period. 77.85% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on CNP shares. Zacks Investment Research raised CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Friday, February 2nd. SunTrust Banks reissued a “hold” rating and set a $28.00 price objective on shares of CenterPoint Energy in a research note on Tuesday, December 26th. Citigroup lifted 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. 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 objective for the company. Finally, Guggenheim downgraded CenterPoint Energy from a “buy” rating to a “neutral” rating in a research report 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 assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $29.22.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 15th will be issued a $0.2775 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $1.11 annualized dividend and a dividend yield of 4.15%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.27. CenterPoint Energy’s payout ratio is currently 78.10%.
In other news, CEO Scott M. Prochazka sold 1,000 shares of CenterPoint Energy stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $28.11, for a total value of $28,110.00. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders sold 3,000 shares of company stock worth $85,410. Company insiders own 0.20% of the company’s stock.
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CenterPoint Energy Company 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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