CenterPoint Energy, Inc. (NYSE:CNP) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 5.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,122 shares of the utilities provider’s stock after selling 3,488 shares during the period. Public Employees Retirement Association of Colorado’s holdings in CenterPoint Energy were worth $1,863,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CNP. Crewe Advisors LLC acquired a new position in shares of CenterPoint Energy during the 1st quarter worth about $25,000. Olistico Wealth LLC acquired a new position in CenterPoint Energy in the second quarter valued at approximately $33,000. Rothschild Investment LLC purchased a new position in CenterPoint Energy in the second quarter valued at approximately $33,000. FinTrust Capital Advisors LLC raised its holdings in CenterPoint Energy by 60.3% during the first quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 452 shares in the last quarter. Finally, Tobam acquired a new position in shares of CenterPoint Energy in the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Trading Up 2.7 %

Shares of CenterPoint Energy stock opened at $28.94 on Tuesday. The firm has a market cap of $18.51 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 2.46 and a beta of 0.92. CenterPoint Energy, Inc. has a 52-week low of $25.41 and a 52-week high of $31.57. The company’s 50-day simple moving average is $27.48 and its 200-day simple moving average is $28.69. The company has a quick ratio of 0.99, a current ratio of 1.20 and a debt-to-equity ratio of 1.79.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the business posted $0.28 EPS. As a group, equities research analysts anticipate that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current year.

CenterPoint Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.76%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 56.34%.

Analysts Set New Price Targets

CNP has been the topic of several research analyst reports. Wells Fargo & Company lowered shares of CenterPoint Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $32.00 to $28.00 in a research note on Tuesday, August 13th. Bank of America began coverage on CenterPoint Energy in a research report on Thursday, September 12th. They issued a “neutral” rating and a $29.00 target price for the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $28.00 price target on shares of CenterPoint Energy in a research report on Monday, August 26th. KeyCorp downgraded CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. Finally, Scotiabank cut their target price on shares of CenterPoint Energy from $29.00 to $28.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $29.36.

About CenterPoint Energy

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.