California State Teachers Retirement System Sells 21,609 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

California State Teachers Retirement System decreased its position in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 2.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 773,526 shares of the utilities provider's stock after selling 21,609 shares during the period. California State Teachers Retirement System owned about 0.12% of CenterPoint Energy worth $24,544,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp acquired a new stake in shares of CenterPoint Energy during the 4th quarter valued at about $28,000. Assetmark Inc. grew its holdings in shares of CenterPoint Energy by 657.1% in the 4th quarter. Assetmark Inc. now owns 901 shares of the utilities provider's stock valued at $29,000 after buying an additional 782 shares during the period. VSM Wealth Advisory LLC acquired a new position in CenterPoint Energy in the 4th quarter worth $32,000. CoreCap Advisors LLC raised its holdings in shares of CenterPoint Energy by 58.9% in the 4th quarter. CoreCap Advisors LLC now owns 1,079 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 400 shares during the period. Finally, BankPlus Trust Department bought a new stake in shares of CenterPoint Energy in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 91.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays upgraded shares of CenterPoint Energy from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $30.00 to $37.00 in a research report on Tuesday, April 22nd. Jefferies Financial Group started coverage on shares of CenterPoint Energy in a report on Wednesday, April 2nd. They set a "buy" rating and a $42.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on shares of CenterPoint Energy from $38.00 to $39.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. Evercore ISI lifted their price target on shares of CenterPoint Energy from $37.00 to $41.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Finally, Argus raised shares of CenterPoint Energy to a "hold" rating in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $36.04.

CenterPoint Energy Trading Down 0.5%

CNP stock traded down $0.17 during midday trading on Tuesday, reaching $37.28. The stock had a trading volume of 1,818,418 shares, compared to its average volume of 5,622,030. The firm has a market cap of $24.33 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 2.71 and a beta of 0.63. CenterPoint Energy, Inc. has a twelve month low of $25.41 and a twelve month high of $39.31. The business has a fifty day simple moving average of $37.23 and a two-hundred day simple moving average of $34.38. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.91.

CenterPoint Energy (NYSE:CNP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). CenterPoint Energy had a return on equity of 10.02% and a net margin of 11.79%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the previous year, the business earned $0.55 EPS. As a group, research analysts expect that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.

CenterPoint Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.36%. CenterPoint Energy's dividend payout ratio is presently 59.06%.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.