State of Tennessee Treasury Department lowered its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,407 shares of the utilities provider’s stock after selling 4,473 shares during the quarter. State of Tennessee Treasury Department’s holdings in CenterPoint Energy were worth $3,850,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. TIAA CREF Investment Management LLC boosted its stake in CenterPoint Energy by 2.4% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,160,870 shares of the utilities provider’s stock worth $32,098,000 after purchasing an additional 27,645 shares during the period. Vanguard Group Inc boosted its stake in CenterPoint Energy by 10.6% in the 3rd quarter. Vanguard Group Inc now owns 54,775,862 shares of the utilities provider’s stock worth $1,514,553,000 after purchasing an additional 5,270,138 shares during the period. Janney Montgomery Scott LLC boosted its stake in CenterPoint Energy by 7.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 31,528 shares of the utilities provider’s stock worth $890,000 after purchasing an additional 2,295 shares during the period. BB&T Securities LLC boosted its stake in CenterPoint Energy by 274.2% in the 4th quarter. BB&T Securities LLC now owns 54,602 shares of the utilities provider’s stock worth $1,541,000 after purchasing an additional 40,010 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in CenterPoint Energy by 224.1% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 23,500 shares of the utilities provider’s stock worth $663,000 after purchasing an additional 16,250 shares during the period. 78.35% of the stock is owned by institutional investors and hedge funds.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 7,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $28.40, for a total value of $198,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Milton Carroll sold 12,000 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $29.76, for a total transaction of $357,120.00. Following the completion of the transaction, the chairman now directly owns 98,301 shares of the company’s stock, valued at $2,925,437.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,780 shares of company stock worth $1,573,746. Company insiders own 0.24% of the company’s stock.
CNP has been the topic of several recent analyst reports. Goldman Sachs Group initiated coverage on shares of CenterPoint Energy in a report on Monday, February 25th. They issued a “buy” rating and a $34.00 target price on the stock. Credit Suisse Group set a $33.00 target price on shares of CenterPoint Energy and gave the stock a “buy” rating in a report on Monday, April 22nd. ValuEngine downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Wells Fargo & Co restated a “buy” rating on shares of CenterPoint Energy in a research report on Thursday, February 28th. Finally, JPMorgan Chase & Co. decreased their target price on shares of CenterPoint Energy from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 15th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $31.86.
NYSE:CNP opened at $29.26 on Friday. The stock has a market capitalization of $14.55 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 3.24 and a beta of 0.51. CenterPoint Energy, Inc. has a 12 month low of $25.65 and a 12 month high of $31.42. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 2.12.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Thursday, May 9th. The utilities provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.06). The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.84 billion. CenterPoint Energy had a net margin of 3.39% and a return on equity of 13.31%. CenterPoint Energy’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.55 earnings per share. Research analysts predict that CenterPoint Energy, Inc. will post 1.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th were given a $0.2875 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $1.15 dividend on an annualized basis and a yield of 3.93%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 71.88%.
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About CenterPoint Energy
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
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