Teacher Retirement System of Texas reduced its stake in shares of CenterPoint Energy Inc. (NYSE:CNP) by 94.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,187 shares of the company’s stock after selling 515,221 shares during the period. Teacher Retirement System of Texas’ holdings in CenterPoint Energy were worth $700,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its position in CenterPoint Energy by 228.5% in the second quarter. Advisory Services Network LLC now owns 5,145 shares of the company’s stock valued at $123,000 after buying an additional 3,579 shares during the last quarter. Washington Trust Bank increased its position in CenterPoint Energy by 133.7% in the second quarter. Washington Trust Bank now owns 5,384 shares of the company’s stock valued at $129,000 after buying an additional 3,080 shares during the last quarter. Assetmark Inc. purchased a new position in CenterPoint Energy during the second quarter valued at about $133,000. IFC Holdings Incorporated FL purchased a new position in CenterPoint Energy during the second quarter valued at about $209,000. Finally, Zevin Asset Management LLC purchased a new position in CenterPoint Energy during the second quarter valued at about $213,000. 77.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CenterPoint Energy Inc. (NYSE:CNP) traded down 0.573% on Friday, reaching $23.445. 857,182 shares of the company were exchanged. The company’s market capitalization is $10.10 billion. CenterPoint Energy Inc. has a 52-week low of $16.05 and a 52-week high of $24.71. The stock has a 50 day moving average of $23.00 and a 200-day moving average of $22.53.
CenterPoint Energy (NYSE:CNP) last announced its earnings results on Friday, August 5th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by $0.03. CenterPoint Energy had a negative net margin of 10.72% and a positive return on equity of 13.48%. The business earned $1.57 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the previous year, the company posted $0.19 earnings per share. CenterPoint Energy’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts predict that CenterPoint Energy Inc. will post $1.15 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Tuesday, August 16th were issued a $0.2575 dividend. The ex-dividend date was Friday, August 12th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 4.37%. CenterPoint Energy’s payout ratio is -59.20%.
Several brokerages have weighed in on CNP. TheStreet downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. SunTrust Banks Inc. reaffirmed a “hold” rating and set a $24.00 price target on shares of CenterPoint Energy in a research report on Tuesday, August 2nd. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. RBC Capital Markets set a $26.00 price target on CenterPoint Energy and gave the stock a “buy” rating in a research report on Monday, August 8th. Finally, Credit Suisse Group AG set a $24.00 price target on CenterPoint Energy and gave the stock a “hold” rating in a research report on Monday, August 8th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $22.68.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company’s segments include Electric Transmission & Distribution, Natural Gas Distribution, Energy Services, Midstream Investments and Other Operations. Its Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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