Maryland State Retirement & Pension System Has $22.78 Million Stock Holdings in CenterPoint Energy, Inc. $CNP

Key Points

• The Maryland State Retirement & Pension System increased its stake in CenterPoint Energy, Inc. by 6.4%, now owning approximately $22.78 million worth of shares.
• Analysts have raised their price targets for CenterPoint Energy, with Barclays and JPMorgan Chase setting new targets of $40.00, while BMO Capital Markets set it at $41.00.
• CenterPoint Energy announced a quarterly dividend of $0.22 per share, which is set to be paid on December 11, with a current dividend yield of 2.2%.

Maryland State Retirement & Pension System grew its position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 6.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 619,898 shares of the utilities provider's stock after purchasing an additional 37,027 shares during the quarter. Maryland State Retirement & Pension System owned approximately 0.09% of CenterPoint Energy worth $22,775,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new stake in shares of CenterPoint Energy during the first quarter valued at about $25,000. ST Germain D J Co. Inc. bought a new position in shares of CenterPoint Energy during the second quarter worth about $26,000. Smallwood Wealth Investment Management LLC bought a new position in shares of CenterPoint Energy during the first quarter worth about $27,000. Chung Wu Investment Group LLC bought a new position in shares of CenterPoint Energy during the second quarter worth about $29,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of CenterPoint Energy during the second quarter worth about $33,000. 91.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNP has been the subject of a number of analyst reports. Barclays raised their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Weiss Ratings restated a "buy (b-)" rating on shares of CenterPoint Energy in a research report on Wednesday. BMO Capital Markets raised their price objective on CenterPoint Energy from $39.00 to $41.00 and gave the stock a "market perform" rating in a research report on Thursday, October 2nd. Finally, Evercore ISI assumed coverage on CenterPoint Energy in a research report on Monday. They set an "in-line" rating and a $42.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, CenterPoint Energy presently has an average rating of "Hold" and an average target price of $38.86.

CenterPoint Energy Trading Up 0.4%

NYSE CNP opened at $39.57 on Thursday. The company has a market cap of $25.83 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 2.78 and a beta of 0.57. CenterPoint Energy, Inc. has a 52 week low of $28.57 and a 52 week high of $40.50. The business has a 50 day moving average price of $38.31 and a 200-day moving average price of $37.37. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 1.87.

CenterPoint Energy (NYSE:CNP - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The utilities provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.15). The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $2.20 billion. CenterPoint Energy had a net margin of 10.42% and a return on equity of 9.16%. During the same quarter in the prior year, the firm earned $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. As a group, equities analysts expect that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

CenterPoint Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 20th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, November 20th. This represents a $0.88 annualized dividend and a dividend yield of 2.2%. CenterPoint Energy's payout ratio is currently 61.54%.

CenterPoint Energy 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.

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