Arizona State Retirement System lowered its position in CenterPoint Energy, Inc. (NYSE:CNP) by 21.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 297,649 shares of the utilities provider’s stock after selling 80,105 shares during the period. Arizona State Retirement System’s holdings in CenterPoint Energy were worth $8,248,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. lifted its position in shares of CenterPoint Energy by 2,745.0% in the 2nd quarter. Whittier Trust Co. now owns 8,535 shares of the utilities provider’s stock worth $218,000 after purchasing an additional 8,235 shares during the period. Signition LP acquired a new position in shares of CenterPoint Energy in the 2nd quarter worth approximately $246,000. Advisor Partners LLC acquired a new position in shares of CenterPoint Energy in the 2nd quarter worth approximately $260,000. Cornerstone Wealth Management LLC acquired a new position in shares of CenterPoint Energy in the 2nd quarter worth approximately $349,000. Finally, CIBC Private Wealth Group LLC lifted its position in shares of CenterPoint Energy by 885.0% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 13,367 shares of the utilities provider’s stock worth $370,000 after purchasing an additional 12,010 shares during the period. Hedge funds and other institutional investors own 79.21% of the company’s stock.

CenterPoint Energy stock opened at $28.35 on Tuesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.83 and a current ratio of 0.95. CenterPoint Energy, Inc. has a 12-month low of $24.81 and a 12-month high of $30.45. The firm has a market cap of $12.14 billion, a P/E ratio of 20.69, a P/E/G ratio of 3.10 and a beta of 0.51.

CenterPoint Energy (NYSE:CNP) last released its earnings results on Friday, August 3rd. The utilities provider reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.02). CenterPoint Energy had a net margin of 15.43% and a return on equity of 10.73%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the firm earned $0.29 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. equities research analysts expect that CenterPoint Energy, Inc. will post 1.61 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 13th. Investors of record on Thursday, August 16th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.92%. CenterPoint Energy’s payout ratio is presently 81.02%.

In other CenterPoint Energy news, CEO Scott M. Prochazka sold 4,000 shares of the company’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $27.57, for a total transaction of $110,280.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Milton Carroll sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $28.27, for a total transaction of $282,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 22,000 shares of company stock worth $607,940 in the last quarter. 0.22% of the stock is owned by corporate insiders.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Monday, June 25th. ValuEngine downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 6th. Bank of America upgraded shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 28th. Credit Suisse Group upgraded shares of CenterPoint Energy from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $27.00 to $30.00 in a research report on Wednesday, May 9th. Finally, SunTrust Banks restated a “hold” rating and issued a $28.00 price target on shares of CenterPoint Energy in a research report on Monday, April 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $28.50.

CenterPoint Energy 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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