New York State Common Retirement Fund Sells 4,951,100 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

New York State Common Retirement Fund decreased its holdings in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 91.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 477,564 shares of the utilities provider's stock after selling 4,951,100 shares during the period. New York State Common Retirement Fund owned 0.07% of CenterPoint Energy worth $17,302,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Xponance Inc. grew its stake in CenterPoint Energy by 1.7% during the first quarter. Xponance Inc. now owns 93,232 shares of the utilities provider's stock valued at $3,378,000 after acquiring an additional 1,597 shares in the last quarter. Allworth Financial LP grew its stake in CenterPoint Energy by 27.2% during the first quarter. Allworth Financial LP now owns 6,035 shares of the utilities provider's stock valued at $229,000 after acquiring an additional 1,289 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in CenterPoint Energy by 5.6% during the first quarter. Nisa Investment Advisors LLC now owns 166,743 shares of the utilities provider's stock valued at $6,041,000 after acquiring an additional 8,914 shares in the last quarter. Greenleaf Trust grew its stake in CenterPoint Energy by 8.9% during the first quarter. Greenleaf Trust now owns 25,429 shares of the utilities provider's stock valued at $921,000 after acquiring an additional 2,078 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in CenterPoint Energy during the first quarter valued at approximately $264,000. Hedge funds and other institutional investors own 91.77% of the company's stock.

CenterPoint Energy Trading Up 2.1%

Shares of CenterPoint Energy stock traded up $0.77 during trading on Friday, reaching $37.27. The company's stock had a trading volume of 5,777,277 shares, compared to its average volume of 5,532,128. CenterPoint Energy, Inc. has a 52-week low of $25.41 and a 52-week high of $39.31. The company has a market cap of $24.33 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 2.64 and a beta of 0.57. The firm's 50-day moving average is $36.58 and its two-hundred day moving average is $35.31. The company has a quick ratio of 0.79, a current ratio of 0.93 and a debt-to-equity ratio of 1.86.

CenterPoint Energy (NYSE:CNP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.55 by ($0.02). CenterPoint Energy had a net margin of 10.80% and a return on equity of 9.74%. The business had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.73 billion. During the same period last year, the company posted $0.55 EPS. On average, sell-side analysts anticipate that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

CenterPoint Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.36%. CenterPoint Energy's dividend payout ratio is currently 59.06%.

Wall Street Analyst Weigh In

CNP has been the subject of several recent analyst reports. Barclays raised shares of CenterPoint Energy from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $30.00 to $37.00 in a research note on Tuesday, April 22nd. Scotiabank reaffirmed an "outperform" rating and set a $40.00 price objective (up previously from $35.00) on shares of CenterPoint Energy in a research note on Friday, April 25th. Argus raised shares of CenterPoint Energy to a "hold" rating in a research note on Friday, April 4th. Evercore ISI boosted their price target on shares of CenterPoint Energy from $37.00 to $41.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. boosted their price target on shares of CenterPoint Energy from $39.00 to $40.00 and gave the stock a "neutral" rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $36.13.

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.