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

State of Alaska Department of Revenue lowered its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,326 shares of the utilities provider’s stock after selling 9,080 shares during the period. State of Alaska Department of Revenue’s holdings in CenterPoint Energy were worth $2,358,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNP. Wilmington Savings Fund Society FSB purchased a new stake in CenterPoint Energy in the third quarter valued at $26,000. First Horizon Advisors Inc. lifted its position in CenterPoint Energy by 51.3% in the third quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 375 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in CenterPoint Energy by 53.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,392 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 482 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in CenterPoint Energy in the third quarter valued at $52,000. Finally, GHP Investment Advisors Inc. lifted its position in CenterPoint Energy by 25.7% in the third quarter. GHP Investment Advisors Inc. now owns 2,047 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 418 shares during the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Scotiabank raised shares of CenterPoint Energy from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $30.00 to $35.00 in a research report on Thursday, December 12th. StockNews.com cut shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Guggenheim cut shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a report on Thursday, January 23rd. Wells Fargo & Company upped their target price on shares of CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley reduced their target price on shares of CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.46.

CenterPoint Energy Trading Down 0.0 %

NYSE CNP opened at $32.40 on Tuesday. The stock has a market capitalization 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 52-week low of $25.41 and a 52-week high of $33.12. The firm has a 50-day moving average price of $32.04 and a 200 day moving average price of $29.97. The company has a quick ratio of 0.92, a current ratio of 1.11 and a debt-to-equity ratio of 1.87.

CenterPoint Energy Increases Dividend

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

About CenterPoint Energy

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.