CenterPoint Energy, Inc. (NYSE:CNP) Declares Quarterly Dividend of $0.23

CenterPoint Energy, Inc. (NYSE:CNP) announced a quarterly dividend on Friday, December 12th. Stockholders of record on Thursday, February 19th will be given a dividend of 0.23 per share by the utilities provider on Thursday, March 12th. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, February 19th. This is a 4.5% increase from CenterPoint Energy’s previous quarterly dividend of $0.22.

CenterPoint Energy has decreased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. CenterPoint Energy has a dividend payout ratio of 48.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CenterPoint Energy to earn $1.87 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 49.2%.

CenterPoint Energy Trading Up 2.0%

Shares of CNP stock opened at $42.48 on Tuesday. 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 fifty day moving average price is $39.04 and its 200 day moving average price is $38.88. CenterPoint Energy has a 1-year low of $33.24 and a 1-year high of $42.57. The firm has a market capitalization of $27.74 billion, a PE ratio of 26.89, a P/E/G ratio of 2.52 and a beta of 0.59.

Hedge Funds Weigh In On CenterPoint Energy

Hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC acquired a new stake in shares of CenterPoint Energy during the 4th quarter worth $254,000. AQR Capital Management LLC grew its position in CenterPoint Energy by 15.6% during the first quarter. AQR Capital Management LLC now owns 76,100 shares of the utilities provider’s stock valued at $2,757,000 after acquiring an additional 10,277 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in CenterPoint Energy by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,683 shares of the utilities provider’s stock worth $2,525,000 after acquiring an additional 3,821 shares during the last quarter. Empowered Funds LLC increased its stake in CenterPoint Energy by 11.5% during the first quarter. Empowered Funds LLC now owns 13,411 shares of the utilities provider’s stock worth $486,000 after acquiring an additional 1,384 shares during the last quarter. Finally, Woodline Partners LP raised its holdings in shares of CenterPoint Energy by 40.7% in the 1st quarter. Woodline Partners LP now owns 55,061 shares of the utilities provider’s stock worth $1,995,000 after purchasing an additional 15,922 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.