Centerpoint Energy said on April 20, 2023 that its board of directors declared a regular quarterly dividend of $0.19 per share ($0.76 annualized). Previously, the company paid $0.19 per share.
Shares must be purchased before the ex-div date of May 17, 2023 to qualify for the dividend. Shareholders of record as of May 18, 2023 will receive the payment on June 8, 2023.
At the current share price of $30.53 / share, the stock’s dividend yield is 2.49%. Looking back five years and taking a sample every week, the average dividend yield has been 3.33%, the lowest has been 2.08%, and the highest has been 9.59%. The standard deviation of yields is 1.09 (n=236).
The current dividend yield is 0.77 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.45. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is -0.34%.
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What is the Fund Sentiment?
There are 1335 funds or institutions reporting positions in Centerpoint Energy. This is an increase of 23 owner(s) or 1.75% in the last quarter. Average portfolio weight of all funds dedicated to CNP is 0.31%, an increase of 9.24%. Total shares owned by institutions increased in the last three months by 1.11% to 763,050K shares. The put/call ratio of CNP is 0.19, indicating a bullish outlook.
Analyst Price Forecast Suggests 5.80% Upside
As of April 6, 2023, the average one-year price target for Centerpoint Energy is $32.30. The forecasts range from a low of $28.28 to a high of $34.65. The average price target represents an increase of 5.80% from its latest reported closing price of $30.53.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Centerpoint Energy is $8,874MM, a decrease of 4.80%. The projected annual non-GAAP EPS is $1.51.
What are Other Shareholders Doing?
Capital International Investors holds 77,889K shares representing 12.34% ownership of the company. In it’s prior filing, the firm reported owning 73,495K shares, representing an increase of 5.64%. The firm increased its portfolio allocation in CNP by 3.79% over the last quarter.
AMRMX – AMERICAN MUTUAL FUND holds 36,732K shares representing 5.82% ownership of the company. No change in the last quarter.
ABALX – AMERICAN BALANCED FUND holds 25,469K shares representing 4.04% ownership of the company. In it’s prior filing, the firm reported owning 24,469K shares, representing an increase of 3.93%. The firm increased its portfolio allocation in CNP by 3.77% over the last quarter.
Boston Partners holds 25,133K shares representing 3.98% ownership of the company. In it’s prior filing, the firm reported owning 25,065K shares, representing an increase of 0.27%. The firm decreased its portfolio allocation in CNP by 1.35% over the last quarter.
Capital Research Global Investors holds 24,159K shares representing 3.83% ownership of the company. In it’s prior filing, the firm reported owning 24,158K shares, representing an increase of 0.01%. The firm decreased its portfolio allocation in CNP by 2.09% over the last quarter.
Centerpoint Energy Background Information
(This description is provided by the company.)
As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of September 30, 2020, the company owned approximately $33 billion in assets and also owned 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 9,600 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years.
This story originally appeared on Fintel.
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