California Public Employees Retirement System Sells 453,643 Shares of CenterPoint Energy, Inc. $CNP

Key Points

• California Public Employees Retirement System cut its CenterPoint Energy stake by 27.5% in the first quarter, selling 453,643 shares and leaving it with 1,194,133 shares valued at about $51.5 million.
• CenterPoint Energy reported mixed quarterly results, missing EPS expectations with $0.56 per share but posting revenue of $2.98 billion, well above analyst estimates.
• The utility raised its quarterly dividend to $0.24 per share, or $0.96 annually, representing a 2.2% yield. Analysts currently have a consensus Hold rating with a price target of $45.31.

California Public Employees Retirement System lowered its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 27.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,194,133 shares of the utilities provider's stock after selling 453,643 shares during the period. California Public Employees Retirement System owned approximately 0.18% of CenterPoint Energy worth $51,539,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. increased its position in CenterPoint Energy by 131.9% in the 1st quarter. Assetmark Inc. now owns 6,952 shares of the utilities provider's stock valued at $300,000 after buying an additional 3,954 shares in the last quarter. Bessemer Group Inc. boosted its holdings in CenterPoint Energy by 38.5% in the first quarter. Bessemer Group Inc. now owns 53,141 shares of the utilities provider's stock worth $2,293,000 after acquiring an additional 14,762 shares in the last quarter. Wealthfront Advisers LLC boosted its holdings in CenterPoint Energy by 27.6% in the first quarter. Wealthfront Advisers LLC now owns 193,710 shares of the utilities provider's stock worth $8,361,000 after acquiring an additional 41,944 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in CenterPoint Energy in the first quarter valued at approximately $202,000. Finally, Marks Group Wealth Management Inc grew its stake in CenterPoint Energy by 15.8% in the first quarter. Marks Group Wealth Management Inc now owns 59,527 shares of the utilities provider's stock valued at $2,569,000 after acquiring an additional 8,131 shares during the period. Institutional investors own 91.77% of the company's stock.

CenterPoint Energy Stock Performance

Shares of CNP opened at $43.02 on Tuesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.04 and a current ratio of 1.16. The stock has a 50 day moving average price of $43.02 and a two-hundred day moving average price of $42.17. The firm has a market capitalization of $28.14 billion, a P/E ratio of 26.39, a P/E/G ratio of 2.56 and a beta of 0.46. CenterPoint Energy, Inc. has a 52 week low of $36.59 and a 52 week high of $45.22.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The utilities provider reported $0.56 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.02). The company had revenue of $2.98 billion during the quarter, compared to analysts' expectations of $1.98 billion. CenterPoint Energy had a return on equity of 10.56% and a net margin of 11.38%.During the same period last year, the company earned $0.53 earnings per share. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. Equities analysts forecast that CenterPoint Energy, Inc. will post 1.91 earnings per share for the current fiscal year.

CenterPoint Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 20th. This is an increase from CenterPoint Energy's previous quarterly dividend of $0.23. CenterPoint Energy's payout ratio is currently 56.44%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CNP shares. BTIG Research started coverage on CenterPoint Energy in a research report on Tuesday, June 30th. They set a "neutral" rating on the stock. BMO Capital Markets lifted their price target on shares of CenterPoint Energy from $47.00 to $48.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. Weiss Ratings restated a "buy (b)" rating on shares of CenterPoint Energy in a research note on Monday, June 15th. Bank of America boosted their price target on shares of CenterPoint Energy from $42.00 to $44.00 and gave the company a "neutral" rating in a research note on Wednesday, April 15th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $48.00 price objective on shares of CenterPoint Energy in a report on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $45.31.

CenterPoint Energy Profile

CenterPoint Energy, Inc NYSE: CNP is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company's principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint's core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.

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