CenterPoint Energy, Inc. (NYSE:CNP) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,326 shares of the utilities provider’s stock after selling 9,080 shares during the quarter. State of Alaska Department of Revenue’s holdings in CenterPoint Energy were worth $2,358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNP. Jacobs Levy Equity Management Inc. grew its position in CenterPoint Energy by 566.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,744,742 shares of the utilities provider’s stock worth $51,330,000 after buying an additional 1,482,966 shares during the period. Teilinger Capital Ltd. acquired a new position in CenterPoint Energy during the third quarter worth about $26,478,000. Zimmer Partners LP grew its position in CenterPoint Energy by 98.1% during the third quarter. Zimmer Partners LP now owns 1,536,640 shares of the utilities provider’s stock worth $45,208,000 after buying an additional 760,956 shares during the period. International Assets Investment Management LLC grew its position in CenterPoint Energy by 1,391.8% during the third quarter. International Assets Investment Management LLC now owns 536,379 shares of the utilities provider’s stock worth $157,800,000 after buying an additional 500,425 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of CenterPoint Energy by 2.5% in the third quarter. Geode Capital Management LLC now owns 15,083,896 shares of the utilities provider’s stock valued at $442,231,000 after purchasing an additional 370,790 shares during the last quarter. 91.77% of the stock is currently owned by institutional investors and hedge funds.

CenterPoint Energy Stock Performance

NYSE:CNP opened at $32.40 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. The company has a market cap of $21.11 billion, a P/E ratio of 21.45, a P/E/G ratio of 2.61 and a beta of 0.95. CenterPoint Energy, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $33.12. The firm’s 50 day moving average is $32.04 and its two-hundred day moving average is $29.97.

CenterPoint Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, February 20th. This represents a $0.88 dividend on an annualized basis and a yield of 2.72%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.21. CenterPoint Energy’s dividend payout ratio (DPR) is currently 58.28%.

Wall Street Analyst Weigh In

Several analysts have recently commented on CNP shares. Morgan Stanley lowered their price target on shares of CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. UBS Group upgraded shares of CenterPoint Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $31.00 to $37.00 in a research report on Tuesday, December 3rd. StockNews.com lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Scotiabank upgraded shares of CenterPoint Energy from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $30.00 to $35.00 in a research report on Thursday, December 12th. Finally, Barclays increased their price target on shares of CenterPoint Energy from $29.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $31.46.

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.