Public Employees Retirement System of Ohio Trims Stock Holdings in CenterPoint Energy, Inc. $CNP

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in CenterPoint Energy, Inc. by 9.5%, owning approximately 0.06% of the company worth $14.16 million after the sale.
• CenterPoint Energy's quarterly earnings report showed an EPS of $0.29, missing analysts' expectations by $0.15, while the company's revenue for the quarter was $1.94 billion, also below expectations.
• The company announced a quarterly dividend of $0.22 per share, with a dividend yield of 2.3% and a payout ratio of 61.54%.

Public Employees Retirement System of Ohio trimmed its holdings in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 9.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 385,536 shares of the utilities provider's stock after selling 40,252 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.06% of CenterPoint Energy worth $14,165,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its holdings in shares of CenterPoint Energy by 8.6% in the first quarter. Janney Montgomery Scott LLC now owns 80,229 shares of the utilities provider's stock worth $2,907,000 after buying an additional 6,377 shares during the period. QRG Capital Management Inc. raised its holdings in shares of CenterPoint Energy by 8.8% in the first quarter. QRG Capital Management Inc. now owns 19,913 shares of the utilities provider's stock worth $721,000 after buying an additional 1,615 shares during the period. Principal Financial Group Inc. raised its holdings in shares of CenterPoint Energy by 3.1% in the first quarter. Principal Financial Group Inc. now owns 864,175 shares of the utilities provider's stock worth $31,309,000 after buying an additional 26,153 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of CenterPoint Energy by 5.6% in the first quarter. Nisa Investment Advisors LLC now owns 166,743 shares of the utilities provider's stock worth $6,041,000 after buying an additional 8,914 shares during the period. Finally, Golden State Wealth Management LLC raised its holdings in shares of CenterPoint Energy by 472.8% in the first quarter. Golden State Wealth Management LLC now owns 1,220 shares of the utilities provider's stock worth $44,000 after buying an additional 1,007 shares during the period. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

CenterPoint Energy Trading Up 1.4%

Shares of NYSE:CNP opened at $38.84 on Friday. CenterPoint Energy, Inc. has a 12-month low of $28.57 and a 12-month high of $39.39. The business's fifty day simple moving average is $38.12 and its 200-day simple moving average is $37.17. The company has a market capitalization of $25.35 billion, a PE ratio of 27.16, a P/E/G ratio of 2.80 and a beta of 0.58. The company has a current ratio of 0.79, a quick ratio of 0.61 and a debt-to-equity ratio of 1.87.

CenterPoint Energy (NYSE:CNP - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.15). The company had revenue of $1.94 billion during the quarter, compared to analysts' expectations 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 business posted $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. As a group, equities research analysts predict that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

CenterPoint Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 20th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. CenterPoint Energy's dividend payout ratio (DPR) is presently 61.54%.

Wall Street Analyst Weigh In

CNP has been the topic of several research reports. Barclays raised their price objective on CenterPoint Energy from $38.00 to $39.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Mizuho set a $39.00 price objective on CenterPoint Energy and gave the stock a "neutral" rating in a report on Friday, July 25th. Scotiabank raised their price objective on CenterPoint Energy from $40.00 to $42.00 and gave the stock a "sector outperform" rating in a report on Friday, July 25th. 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 report on Tuesday, July 15th. Finally, Morgan Stanley reduced their price objective on CenterPoint Energy from $38.00 to $37.00 and set an "equal weight" rating on the stock in a report on Thursday. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, CenterPoint Energy has an average rating of "Hold" and an average target price of $38.41.

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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