State of New Jersey Common Pension Fund D Decreases Holdings in 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 trimmed its position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 7.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 204,298 shares of the utilities provider's stock after selling 15,594 shares during the period. State of New Jersey Common Pension Fund D's holdings in CenterPoint Energy were worth $7,402,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CNP. Curat Global LLC purchased a new stake in CenterPoint Energy in the 1st quarter valued at about $25,000. N.E.W. Advisory Services LLC purchased a new stake in CenterPoint Energy in the 1st quarter valued at about $25,000. Smallwood Wealth Investment Management LLC purchased a new stake in CenterPoint Energy in the 1st quarter valued at about $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 period. Finally, Harbor Investment Advisory LLC boosted its position in 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. 91.77% of the stock is currently owned by institutional investors.

CenterPoint Energy Stock Up 0.1%

Shares of CNP traded up $0.0340 during mid-day trading on Friday, hitting $38.0340. The company's stock had a trading volume of 5,607,602 shares, compared to its average volume of 5,139,331. The company's 50-day moving average is $37.21 and its 200-day moving average is $36.42. CenterPoint Energy, Inc. has a 52-week low of $26.32 and a 52-week high of $39.39. The firm has a market capitalization of $24.83 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 2.78 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 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 analysts' expectations of $2.20 billion. During the same period in the previous year, the company posted $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. On average, equities research analysts forecast that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.

CenterPoint Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.88 dividend on an annualized basis and a yield of 2.3%. CenterPoint Energy's dividend payout ratio is presently 61.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. BMO Capital Markets boosted their price objective on shares of CenterPoint Energy from $36.00 to $39.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Morgan Stanley lowered their price objective on shares of CenterPoint Energy from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their price objective on shares of CenterPoint Energy from $39.00 to $40.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Mizuho set a $39.00 price objective on shares of CenterPoint Energy and gave the company a "neutral" rating in a research report on Friday, July 25th. Finally, Wall Street Zen cut shares of CenterPoint Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, CenterPoint Energy has an average rating of "Hold" and an average price target of $37.38.

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.