CenterPoint Energy (NYSE:CNP) Hits New 52-Week High – Still a Buy?

CenterPoint Energy, Inc. (NYSE:CNP) shares reached a new 52-week high on Wednesday . The company traded as high as $40.67 and last traded at $40.60, with a volume of 258184 shares. The stock had previously closed at $40.19.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of CenterPoint Energy from $43.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, December 11th. Wall Street Zen lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Sunday, January 25th. Wells Fargo & Company lifted their price objective on CenterPoint Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of CenterPoint Energy in a research note on Monday, December 29th. Finally, Mizuho set a $42.00 target price on CenterPoint Energy in a report on Tuesday, October 21st. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.82.

CenterPoint Energy Stock Up 0.8%

The company has a market cap of $26.45 billion, a P/E ratio of 25.59, a PEG ratio of 2.33 and a beta of 0.59. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.51 and a quick ratio of 0.38. The business’s 50 day moving average price is $38.67 and its 200-day moving average price is $38.68.

CenterPoint Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 19th will be paid a $0.23 dividend. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, February 19th. CenterPoint Energy’s payout ratio is presently 55.70%.

Insider Activity at CenterPoint Energy

In other news, Director Phillip R. Smith sold 6,200 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $38.83, for a total value of $240,746.00. Following the completion of the sale, the director directly owned 65,577 shares in the company, valued at approximately $2,546,354.91. This trade represents a 8.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On CenterPoint Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss Life Asset Management Ltd lifted its position in shares of CenterPoint Energy by 7.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 113,024 shares of the utilities provider’s stock worth $4,333,000 after purchasing an additional 7,543 shares in the last quarter. JSF Financial LLC bought a new position in CenterPoint Energy in the 4th quarter worth approximately $883,000. NewEdge Wealth LLC lifted its holdings in CenterPoint Energy by 48.0% during the 4th quarter. NewEdge Wealth LLC now owns 9,693 shares of the utilities provider’s stock worth $372,000 after buying an additional 3,144 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in CenterPoint Energy by 4.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 23,991 shares of the utilities provider’s stock valued at $920,000 after buying an additional 1,088 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of CenterPoint Energy by 115.4% in the 4th quarter. International Assets Investment Management LLC now owns 35,445 shares of the utilities provider’s stock valued at $1,359,000 after buying an additional 18,990 shares during the period. Institutional investors and hedge funds own 91.77% of the company’s stock.

About CenterPoint Energy

CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.