State Board of Administration of Florida Retirement System Boosts Stock Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

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State Board of Administration of Florida Retirement System lifted its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 702,697 shares of the utilities provider’s stock after acquiring an additional 3,913 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.14% of CenterPoint Energy worth $20,118,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of CNP. First Republic Investment Management Inc. increased its holdings in CenterPoint Energy by 2.9% in the first quarter. First Republic Investment Management Inc. now owns 12,339 shares of the utilities provider’s stock valued at $379,000 after buying an additional 353 shares during the last quarter. Bank of The West increased its holdings in CenterPoint Energy by 5.4% in the second quarter. Bank of The West now owns 7,482 shares of the utilities provider’s stock valued at $214,000 after buying an additional 386 shares during the last quarter. 6 Meridian increased its holdings in CenterPoint Energy by 2.5% in the second quarter. 6 Meridian now owns 16,492 shares of the utilities provider’s stock valued at $472,000 after buying an additional 396 shares during the last quarter. Shulman DeMeo Asset Management LLC increased its holdings in CenterPoint Energy by 4.9% in the first quarter. Shulman DeMeo Asset Management LLC now owns 8,788 shares of the utilities provider’s stock valued at $270,000 after buying an additional 407 shares during the last quarter. Finally, World Asset Management Inc increased its holdings in CenterPoint Energy by 1.4% in the second quarter. World Asset Management Inc now owns 34,232 shares of the utilities provider’s stock valued at $980,000 after buying an additional 456 shares during the last quarter. 79.94% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Scott M. Prochazka sold 7,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $28.40, for a total transaction of $198,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 21,000 shares of company stock valued at $600,810 in the last 90 days. 0.24% of the stock is currently owned by insiders.

Several equities analysts recently commented on CNP shares. Morgan Stanley increased their target price on CenterPoint Energy from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Friday, June 14th. KeyCorp started coverage on CenterPoint Energy in a report on Tuesday, June 4th. They issued a “sector weight” rating on the stock. Goldman Sachs Group increased their target price on CenterPoint Energy from $31.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Bank of America raised CenterPoint Energy from a “neutral” rating to a “buy” rating and set a $29.32 target price on the stock in a report on Thursday, June 13th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. dropped their target price on CenterPoint Energy from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, May 15th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $31.85.

NYSE CNP opened at $27.42 on Friday. The company has a debt-to-equity ratio of 2.17, a current ratio of 1.11 and a quick ratio of 0.95. CenterPoint Energy, Inc. has a 1 year low of $26.74 and a 1 year high of $31.42. The company has a market capitalization of $13.77 billion, a PE ratio of 17.14, a P/E/G ratio of 3.31 and a beta of 0.46. The company has a fifty day moving average of $28.56 and a two-hundred day moving average of $29.72.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.04. CenterPoint Energy had a net margin of 5.55% and a return on equity of 13.59%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the prior year, the firm posted $0.30 earnings per share. CenterPoint Energy’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, research analysts expect that CenterPoint Energy, Inc. will post 1.65 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 15th will be paid a $0.2875 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $1.15 annualized dividend and a yield of 4.19%. CenterPoint Energy’s dividend payout ratio is presently 71.88%.

CenterPoint Energy Company Profile

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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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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