CenterPoint Energy, Inc. (CNP) Position Trimmed by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its position in CenterPoint Energy, Inc. (NYSE:CNP) by 36.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 199,016 shares of the utilities provider’s stock after selling 112,477 shares during the period. Retirement Systems of Alabama’s holdings in CenterPoint Energy were worth $5,503,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Oppenheimer & Co. Inc. boosted its holdings in CenterPoint Energy by 18.9% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 11,129 shares of the utilities provider’s stock worth $309,000 after buying an additional 1,771 shares during the period. First Allied Advisory Services Inc. boosted its holdings in CenterPoint Energy by 18.9% in the 2nd quarter. First Allied Advisory Services Inc. now owns 11,719 shares of the utilities provider’s stock worth $331,000 after buying an additional 1,865 shares during the period. Amalgamated Bank boosted its holdings in CenterPoint Energy by 3.5% in the 2nd quarter. Amalgamated Bank now owns 55,555 shares of the utilities provider’s stock worth $1,539,000 after buying an additional 1,885 shares during the period. Northpointe Capital LLC boosted its holdings in CenterPoint Energy by 2.0% in the 2nd quarter. Northpointe Capital LLC now owns 98,431 shares of the utilities provider’s stock worth $2,728,000 after buying an additional 1,927 shares during the period. Finally, Zacks Investment Management boosted its holdings in CenterPoint Energy by 5.1% in the 2nd quarter. Zacks Investment Management now owns 43,053 shares of the utilities provider’s stock worth $1,193,000 after buying an additional 2,090 shares during the period. 67.52% of the stock is owned by institutional investors.

CNP opened at $26.96 on Monday. CenterPoint Energy, Inc. has a 52 week low of $24.81 and a 52 week high of $30.17. The stock has a market cap of $13.51 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 2.90 and a beta of 0.43. The company has a quick ratio of 0.83, a current ratio of 0.95 and a debt-to-equity ratio of 1.66.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Wednesday, November 14th. CenterPoint Energy’s dividend payout ratio (DPR) is presently 81.02%.

In related news, insider Milton Carroll sold 10,000 shares of the stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $28.27, for a total value of $282,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott M. Prochazka sold 4,000 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $27.54, for a total transaction of $110,160.00. The disclosure for this sale can be found here. 0.22% of the stock is owned by corporate insiders.

Several research analysts recently weighed in on CNP shares. Zacks Investment Research raised shares of CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Monday, July 23rd. JPMorgan Chase & Co. raised shares of CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 target price for the company in a report on Wednesday, September 5th. ValuEngine raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. Barclays began coverage on shares of CenterPoint Energy in a report on Monday, October 22nd. They set a “hold” rating and a $30.00 price objective for the company. Finally, Wells Fargo & Co raised shares of CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a report on Monday, October 8th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $29.33.

CenterPoint Energy Profile

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.

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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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