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The New York State Common Retirement Fund reduced its position in shares of CenterPoint Energy, Inc. (New York Stock Exchange: CNP – Get a rating) by 0.2% in the 1st quarter, according to its last filing with the Securities and Exchange Commission. The institutional investor held 588,974 shares of the utility provider after selling 1,269 shares during the period. The New York State Common Retirement Fund held approximately 0.09% of CenterPoint Energy worth $18,046,000 when it last filed with the Securities and Exchange Commission.
Other major investors have also changed their positions in the company. GHP Investment Advisors Inc. acquired a new equity stake in CenterPoint Energy during Q1 worth approximately $28,000. JNBA Financial Advisors increased its position in CenterPoint Energy by 335.5% in the fourth quarter. JNBA Financial Advisors now owns 958 shares of the utility provider valued at $27,000 after buying an additional 738 shares in the last quarter. PYA Waltman Capital LLC acquired a new stake in CenterPoint Energy in the fourth quarter worth approximately $28,000. Standard Family Office LLC acquired a new stake in CenterPoint Energy in the fourth quarter worth approximately $36,000. Finally, City State Bank acquired a new stake in CenterPoint Energy in the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 90.98% of the company’s shares.
CenterPoint Energy Price Performance
Shares of NYSE NOC opened at $31.39 on Friday. CenterPoint Energy, Inc. has a 12-month low of $24.33 and a 12-month high of $33.00. The company has a fifty-day simple moving average of $29.95 and a 200-day simple moving average of $29.69. The company has a market capitalization of $19.76 billion, a PE ratio of 12.92, a P/E/G ratio of 5.90 and a beta of 0.87. The company has a quick ratio of 0.80, a current ratio of 1.03 and a debt ratio of 1.43.
Center point energy (New York Stock Exchange: CNP – Get a rating) last announced its results on Tuesday, August 2. The utility provider reported earnings per share of $0.31 for the quarter, beating analysts’ consensus estimate of $0.27 by $0.04. CenterPoint Energy had a net margin of 18.16% and a return on equity of 10.92%. In the same quarter a year earlier, the company earned $0.36 per share. On average, sell-side analysts expect CenterPoint Energy, Inc. to post EPS of 1.38 for the current year.
CenterPoint Energy increases its dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 8. Shareholders of record on Thursday, August 18 will receive a dividend of $0.18. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.17. This represents an annualized dividend of $0.72 and a yield of 2.29%. The ex-date of this dividend is Wednesday, August 17. CenterPoint Energy’s payout ratio is 27.98%.
Analyst upgrades and downgrades
A number of brokerages have weighed in on CNP. Morgan Stanley raised its price target on CenterPoint Energy shares from $29.00 to $31.00 and gave the company an “overweight” rating in a Thursday, July 21 research report. StockNews.com upgraded CenterPoint Energy shares from a “sell” to a “hold” rating in a Tuesday, May 10 research report. Credit Suisse Group began covering CenterPoint Energy shares in a research report on Monday, April 25. They issued an “outperform” rating and a target price of $34.00 on the stock. Barclays cut its price target on CenterPoint Energy shares from $36.00 to $33.00 and set an “overweight” rating on the stock in a Monday July 18 research report. Finally, KeyCorp cut its price target on CenterPoint Energy shares from $34.00 to $32.00 and set an “overweight” rating on the stock in a Tuesday, July 19 report. Four equity research analysts gave the stock a hold rating and ten gave the stock a buy rating. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.25.
About CenterPoint Energy
CenterPoint Energy, Inc operates as a utility holding company in the United States. The Company operates through the electricity and natural gas segments. The Electric segment includes electricity transmission and distribution services to electric customers and electricity generation assets, as well as wholesale electricity market assets.
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