State Board of Administration of Florida Retirement System Has $18.80 Million Position in CenterPoint Energy, Inc. (CNP)
State Board of Administration of Florida Retirement System lowered its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 679,762 shares of the utilities provider’s stock after selling 13,355 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.14% of CenterPoint Energy worth $18,795,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Braun Bostich & Associates Inc. boosted its holdings in CenterPoint Energy by 1,372.0% in the second quarter. Braun Bostich & Associates Inc. now owns 4,151 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 3,869 shares during the last quarter. Ropes Wealth Advisors LLC purchased a new stake in CenterPoint Energy in the second quarter worth approximately $130,000. Signet Financial Management LLC boosted its holdings in CenterPoint Energy by 649.6% in the second quarter. Signet Financial Management LLC now owns 5,322 shares of the utilities provider’s stock worth $147,000 after purchasing an additional 4,612 shares during the last quarter. FNY Investment Advisers LLC boosted its holdings in CenterPoint Energy by 2,962.2% in the third quarter. FNY Investment Advisers LLC now owns 6,400 shares of the utilities provider’s stock worth $176,000 after purchasing an additional 6,191 shares during the last quarter. Finally, UMB Bank N A MO purchased a new stake in CenterPoint Energy in the third quarter worth approximately $210,000. 67.52% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on CNP shares. Zacks Investment Research upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Monday, July 23rd. ValuEngine upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. SunTrust Banks restated a “hold” rating and issued a $30.00 target price on shares of CenterPoint Energy in a report on Monday, August 6th. JPMorgan Chase & Co. upgraded shares of CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 target price on the stock in a report on Wednesday, September 5th. Finally, Wells Fargo & Co upgraded shares of CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Monday, October 8th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $29.33.
Shares of CNP stock opened at $28.13 on Friday. The company has a market capitalization of $14.19 billion, a P/E ratio of 20.53, a P/E/G ratio of 3.04 and a beta of 0.43. CenterPoint Energy, Inc. has a 12-month low of $24.81 and a 12-month high of $30.17. 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 (NYSE:CNP) last issued its quarterly earnings results on Thursday, November 8th. The utilities provider reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.26 billion. CenterPoint Energy had a return on equity of 10.73% and a net margin of 15.43%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. As a group, equities analysts predict that CenterPoint Energy, Inc. will post 1.6 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 15th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Wednesday, November 14th. CenterPoint Energy’s dividend payout ratio is presently 81.02%.
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About CenterPoint Energy
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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