CenterPoint Energy, Inc. $CNP Stock: Maryland State Retirement & Pension System Trims Position

Maryland State Retirement & Pension System lowered its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 7.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 607,412 shares of the utilities provider’s stock after selling 46,675 shares during the quarter. Maryland State Retirement & Pension System’s holdings in CenterPoint Energy were worth $22,353,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CNP. Keating Financial Advisory Services Inc. purchased a new position in shares of CenterPoint Energy during the 2nd quarter worth $27,000. MidFirst Bank acquired a new stake in shares of CenterPoint Energy during the 2nd quarter worth about $38,000. Transamerica Financial Advisors LLC acquired a new stake in shares of CenterPoint Energy during the 2nd quarter worth about $40,000. Silver Grove Financial Group Inc. raised its holdings in CenterPoint Energy by 1,325.4% in the 3rd quarter. Silver Grove Financial Group Inc. now owns 955 shares of the utilities provider’s stock valued at $35,000 after buying an additional 888 shares during the period. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in CenterPoint Energy in the 2nd quarter valued at about $44,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CNP. Royal Bank Of Canada initiated coverage on shares of CenterPoint Energy in a research report on Tuesday, September 15th. They issued a “sector perform” rating and a $40.00 target price on the stock. TD Cowen initiated coverage on shares of CenterPoint Energy in a research report on Thursday, October 22nd. They set a “buy” rating and a $47.00 price target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of CenterPoint Energy in a research report on Friday, September 11th. Barclays boosted their price target on shares of CenterPoint Energy from $41.00 to $43.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 28th. Finally, Mizuho set a $43.00 price target on shares of CenterPoint Energy in a research note on Wednesday, October 28th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.29.

CenterPoint Energy Stock Down 0.6%

NYSE:CNP opened at $40.98 on Thursday. CenterPoint Energy, Inc. has a 52 week low of $36.37 and a 52 week high of $45.26. The stock’s fifty day moving average is $39.46 and its two-hundred day moving average is $41.62. The stock has a market capitalization of $27.17 billion, a price-to-earnings ratio of 23.42, a price-to-earnings-growth ratio of 2.73 and a beta of 0.43. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.02.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. CenterPoint Energy had a return on equity of 11.16% and a net margin of 11.76%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. Research analysts anticipate that CenterPoint Energy, Inc. will post 1.91 EPS for the current year.

CenterPoint Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Thursday, November 19th. CenterPoint Energy’s dividend payout ratio (DPR) is 54.86%.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc. is a regulated energy delivery company based in Houston, Texas. Its main businesses are electric transmission and distribution and natural gas distribution, connecting customers to energy and maintaining the infrastructure that delivers it. The company’s electric utility operations serve the Houston area, while its natural gas utilities serve customers in Texas, Indiana, Minnesota and Ohio. CenterPoint Energy’s services include operating and maintaining power lines, gas distribution systems and related utility infrastructure.