CenterPoint Energy, Inc. (CNP) Position Lessened by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC cut its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,919,314 shares of the utilities provider’s stock after selling 27,769 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.45% of CenterPoint Energy worth $52,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of CenterPoint Energy by 5.3% in the first quarter. Vanguard Group Inc. now owns 47,293,206 shares of the utilities provider’s stock worth $1,303,873,000 after purchasing an additional 2,359,375 shares during the last quarter. BlackRock Inc. grew its stake in shares of CenterPoint Energy by 1,521.6% in the first quarter. BlackRock Inc. now owns 39,034,890 shares of the utilities provider’s stock worth $1,076,193,000 after purchasing an additional 36,627,665 shares during the last quarter. State Street Corp grew its stake in shares of CenterPoint Energy by 3.6% in the first quarter. State Street Corp now owns 23,857,898 shares of the utilities provider’s stock worth $657,763,000 after purchasing an additional 818,887 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in CenterPoint Energy by 7.9% in the first quarter. Principal Financial Group Inc. now owns 5,943,866 shares of the utilities provider’s stock worth $163,873,000 after buying an additional 436,634 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in CenterPoint Energy by 15.2% in the first quarter. Geode Capital Management LLC now owns 4,478,928 shares of the utilities provider’s stock worth $123,322,000 after buying an additional 591,213 shares during the period. 76.87% of the stock is currently owned by institutional investors.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $27.66, for a total value of $27,660.00. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 3,000 shares of company stock worth $85,500 over the last 90 days. Insiders own 0.20% of the company’s stock.
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CenterPoint Energy, Inc. (NYSE:CNP) opened at 29.98 on Tuesday. CenterPoint Energy, Inc. has a 12-month low of $21.83 and a 12-month high of $30.45. The stock’s 50 day moving average is $29.35 and its 200 day moving average is $28.28. The stock has a market capitalization of $12.92 billion, a price-to-earnings ratio of 21.41 and a beta of 0.63.
CenterPoint Energy (NYSE:CNP) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.07. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.98 billion. CenterPoint Energy had a net margin of 6.86% and a return on equity of 16.45%. The company’s revenue for the quarter was up 36.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 EPS. Equities analysts predict that CenterPoint Energy, Inc. will post $1.34 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Wednesday, August 16th were paid a $0.2675 dividend. The ex-dividend date was Monday, August 14th. This represents a $1.07 dividend on an annualized basis and a yield of 3.57%. CenterPoint Energy’s dividend payout ratio is currently 76.98%.
Several analysts have commented on CNP shares. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Monday, July 17th. BidaskClub lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. J P Morgan Chase & Co started coverage on shares of CenterPoint Energy in a report on Thursday, June 29th. They issued a “neutral” rating and a $29.00 price objective for the company. Finally, Credit Suisse Group upgraded shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $28.82 to $29.00 in a report on Monday, August 14th. Eight equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $27.89.
CenterPoint Energy Profile
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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