State of New Jersey Common Pension Fund D Sells 15,594 Shares of CenterPoint Energy, Inc. $CNP

Key Points

• The State of New Jersey Common Pension Fund D sold 15,594 shares of CenterPoint Energy, Inc., reducing its ownership by 7.1% to 204,298 shares, valued at $7.4 million.
• CenterPoint Energy reported adjusted earnings of $0.29 per share, missing estimates by $0.15, with revenues of $1.94 billion against the expected $2.20 billion.
• The company announced a quarterly dividend of $0.22 per share, resulting in an annual yield of approximately 2.3%, and has a payout ratio of 61.54%.

State of New Jersey Common Pension Fund D cut its position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 7.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 204,298 shares of the utilities provider's stock after selling 15,594 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in CenterPoint Energy were worth $7,402,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNP. Curat Global LLC bought a new stake in shares of CenterPoint Energy in the 1st quarter worth about $25,000. N.E.W. Advisory Services LLC bought a new position in CenterPoint Energy in the 1st quarter worth approximately $25,000. Smallwood Wealth Investment Management LLC acquired a new position in CenterPoint Energy during the 1st quarter worth $27,000. CoreCap Advisors LLC boosted its position in 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 buying an additional 400 shares during the last quarter. Finally, Harbor Investment Advisory LLC increased its stake in shares of CenterPoint Energy by 201.5% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,034 shares of the utilities provider's stock valued at $37,000 after buying an additional 691 shares during the period. Institutional investors own 91.77% of the company's stock.

CenterPoint Energy Trading Up 0.1%

CenterPoint Energy stock traded up $0.0340 during mid-day trading on Friday, hitting $38.0340. 4,375,391 shares of the company's stock were exchanged, compared to its average volume of 5,252,617. The company's 50 day simple moving average is $37.18 and its 200-day simple moving average is $36.38. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $24.83 billion, a P/E ratio of 26.60, a PEG ratio of 2.82 and a beta of 0.58. CenterPoint Energy, Inc. has a fifty-two week low of $26.32 and a fifty-two week high of $39.39.

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 the consensus estimate of $0.44 by ($0.15). CenterPoint Energy had a return on equity of 9.16% and a net margin of 10.42%.The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company earned $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. On average, equities analysts anticipate that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

CenterPoint Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, August 21st. CenterPoint Energy's dividend payout ratio is 61.54%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Evercore ISI raised their price target on CenterPoint Energy from $37.00 to $41.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Morgan Stanley reduced their target price on shares of CenterPoint Energy from $35.00 to $34.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 22nd. BMO Capital Markets boosted their price target on shares of CenterPoint Energy from $36.00 to $39.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 22nd. Mizuho set a $39.00 price objective on shares of CenterPoint Energy and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Barclays lifted their target price on shares of CenterPoint Energy from $38.00 to $39.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $37.38.

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.