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OneDigital Investment Advisors LLC lifted its holdings in CenterPoint Energy, Inc. ( NYSE:CNP – Free Report ) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,497 shares of the utilities provider’s stock after purchasing an additional 590 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in CenterPoint Energy were worth $250,000 as of its most recent SEC filing. Several other large investors have also added to or reduced their stakes in the business. Boston Partners lifted its position in CenterPoint Energy by 3.3% during the 1st quarter. Boston Partners now owns 17,545,528 shares of the utilities provider’s stock worth $499,962,000 after buying an additional 556,802 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in CenterPoint Energy by 38.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,602,621 shares of the utilities provider’s stock worth $302,070,000 after acquiring an additional 2,961,464 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in CenterPoint Energy by 46.6% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,666,563 shares of the utilities provider’s stock valued at $144,570,000 after purchasing an additional 1,484,079 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in CenterPoint Energy by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 4,043,757 shares of the utilities provider’s stock valued at $125,275,000 after purchasing an additional 53,655 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of CenterPoint Energy by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,611,909 shares of the utilities provider’s stock worth $80,914,000 after purchasing an additional 200,693 shares during the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock. Analyst Ratings Changes CNP has been the subject of several analyst reports. Bank of America assumed coverage on shares of CenterPoint Energy in a research note on Thursday, September 12th. They issued a “neutral” rating and a $29.00 target price for the company. StockNews.com downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Morgan Stanley dropped 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 report on Friday. Scotiabank lifted their price target on CenterPoint Energy from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company upped their price objective on CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.00. CenterPoint Energy Price Performance Shares of NYSE CNP opened at $31.93 on Friday. The firm has a market cap of $20.81 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 2.72 and a beta of 0.92. The business’s 50 day moving average is $29.71 and its 200-day moving average is $29.17. The company has a current ratio of 1.11, a quick ratio of 0.92 and a debt-to-equity ratio of 1.87. CenterPoint Energy, Inc. has a 1-year low of $25.41 and a 1-year high of $32.34. CenterPoint Energy ( NYSE:CNP – Get Free Report ) last posted its quarterly earnings data on Monday, October 28th. The utilities provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.88 billion. CenterPoint Energy had a return on equity of 9.73% and a net margin of 11.25%. During the same quarter last year, the business earned $0.40 EPS. Equities research analysts predict that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current year. CenterPoint Energy Increases Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.84 dividend on an annualized basis and a yield of 2.63%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.20. CenterPoint Energy’s payout ratio is currently 55.63%. CenterPoint Energy Profile ( Free Report ) 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. Read More Want to see what other hedge funds are holding CNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CenterPoint Energy, Inc. ( NYSE:CNP – Free Report ). 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Empowered Funds LLC Buys 12,998 Shares of ARC Document Solutions, Inc. (NYSE:ARC)Bode George laments rot in PDP, urges unity ahead of 2027 electionEngland’s Jordan Cox an injury doubt for first Test in New ZealandAccording to the Office of Financial Management, Washington state is projected to face a budget imbalance of between $10 billion and $12 billion over the next four-year outlook period. The looming shortfall is exasperated by record spending at the state level. Democrats approved more than 1,300 new policy-related appropriations at a cost of more than $6 billion in the 2022 supplemental budget alone. OFM officials blame slowing revenue forecasts, rising costs and expanding need for the looming budget gap, while critics claim the state has been reckless with its spending and hasn’t prioritized how best to utilize taxpayer dollars. “This deficit is due to the recent revenue forecasts that were adjusted down and the increase in caseloads and the cost to maintain existing programs,” OFM Pat Sullivan said in a Nov. 8 memo . OFM Deputy Communications Director Hayden Mackley went into more detail about several factors contributing to the deficit. “The amount of forecast revenue for the next four years has dropped since the most recent budget was enacted in March,” he emailed The Center Square. “The budget is required by state law to be balanced over four years – that’s why the projected deficit is calculated through June 2029 as we plan for the 2025-27 budget. The 2024 supplemental budget that was enacted was balanced over a four-year period, through the end of fiscal year 2027.” According to estimates released Wednesday by the Washington State Economic and Revenue Forecast Council, Washington’s projected near general fund revenue collections through 2029 decreased by $400 million overall from the September forecast. “We’re seeing an increase in forecasted caseloads , which are the projected numbers of people that receive state services,” Mackley continued. “Some of the larger increases are in state-funded kindergarten and child care programs. We’re also seeing an increase in costs related to inflation, and other costs of maintaining programs. Some programs included in that ‘maintenance level’ are constitutional and other legal obligations; others are enacted by the Legislature.” Not everyone is buying OFM’s explanation for the looming deficit. Washington Research Council’s Emily Makings took lawmakers to task in a Nov. 12 blog , stating that the “estimated shortfall is the result of legislative spending choices. The Legislature chose to increase appropriations in 2023-25 by 15.8% over 2021–23, at a time when biennial revenues were expected to increase by 3.5%. Now that bill is coming due.” She previously noted that “Compared to the February revenue forecast (on which the current budget was based), the September revenue forecast is down by just $608 million through 2027–29. It didn’t help matters, but the revenue forecast decrease is not the cause of the problem. (Further, 2025–27 revenues are forecasted to be $5.132 billion higher than 2023–25 revenues.)” Todd Myers, Vice President for Research at the Washington Policy Center think tank echoed those sentiments. “Fundamentally, this problem was created by mismanagement of the budget and putting political priorities ahead of fiscal sustainability,” he said. “What the Legislature did was to put programs at risk in the hope that the threat of cutting key programs is enough to force the public to support yet another huge increase in state taxes. It is backward.” Further complicating matters is the fact that the budget gap does not include the almost $1.4 billion needed to pay for the two-year collective bargaining agreements negotiated with state employee unions in the next budget. “The determination on the collective bargaining agreements hasn’t been made yet,” Mackley explained. “This determination will occur close to when the governor’s budget proposal to the Legislature is published in mid-December.” There is precedent for denying the pay raises. Gov. Christine Gregoire was sued in late 2008 by the Service Employees International Union’s Local 775 for suggesting that workers’ pay raises be dropped as part of addressing the state’s impending budget deficit. The union was awarded pay and benefits increases worth more than $80 million in binding arbitration. In April 2010, however, the state Supreme Court ruled it can’t force a governor to budget for raises awarded to a public employee union, even though state law says the governor “must” include that money in their spending proposal. Myers said whatever decision is made regarding the pay raises will be an indication of the state’s priorities. “At the very least, it is clear that the $1.3 billion in pay raises is not justifiable,” he said. “If the Legislature approves that contract, it will be very clear that legislators chose pay raises over programs that don’t get the funding that was previously promised.” In the meantime, Mackley pointed to Sullivan’s memo that “directs state agencies to propose cost-saving measures, including hiring freezes and program delays, in response to the projected deficit. Agencies may choose to implement measures like hiring freezes or layoffs that result in immediate savings.”