Mutual of America Capital Management LLC Reduces Stake in CenterPoint Energy, Inc. (NYSE:CNP)

Mutual of America Capital Management LLC trimmed its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 82,760 shares of the utilities provider’s stock after selling 1,696 shares during the quarter. Mutual of America Capital Management LLC’s holdings in CenterPoint Energy were worth $2,358,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CNP. Public Sector Pension Investment Board lifted its position in CenterPoint Energy by 6.3% during the third quarter. Public Sector Pension Investment Board now owns 147,136 shares of the utilities provider’s stock worth $3,951,000 after buying an additional 8,667 shares during the period. Wellington Management Group LLP lifted its holdings in shares of CenterPoint Energy by 0.9% during the 3rd quarter. Wellington Management Group LLP now owns 3,266,587 shares of the utilities provider’s stock worth $87,708,000 after acquiring an additional 29,950 shares during the period. Anchor Investment Management LLC acquired a new stake in shares of CenterPoint Energy in the fourth quarter worth approximately $381,000. DNB Asset Management AS grew its holdings in CenterPoint Energy by 1.2% in the fourth quarter. DNB Asset Management AS now owns 136,913 shares of the utilities provider’s stock valued at $3,912,000 after purchasing an additional 1,613 shares during the period. Finally, Fulton Bank N.A. acquired a new position in CenterPoint Energy during the fourth quarter worth approximately $204,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com upgraded CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Friday. Morgan Stanley reduced their price objective on CenterPoint Energy from $31.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Scotiabank dropped their target price on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. KeyCorp lifted their price target on shares of CenterPoint Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Finally, BMO Capital Markets increased their price objective on shares of CenterPoint Energy from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.00.

CenterPoint Energy Stock Performance

Shares of CNP stock opened at $30.30 on Friday. The stock has a market capitalization of $19.38 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 2.61 and a beta of 0.92. CenterPoint Energy, Inc. has a one year low of $25.42 and a one year high of $31.57. The company’s 50-day simple moving average is $30.24 and its 200-day simple moving average is $28.88. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.06 and a current ratio of 1.25.

CenterPoint Energy (NYSE:CNP) last released its earnings results on Tuesday, April 30th. The utilities provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. CenterPoint Energy had a return on equity of 10.57% and a net margin of 11.03%. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter last year, the business posted $0.50 EPS. Equities analysts anticipate that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current fiscal year.

CenterPoint Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 16th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.64%. CenterPoint Energy’s dividend payout ratio (DPR) is 56.34%.

Insider Transactions at CenterPoint Energy

In related news, Director Barry T. Smitherman sold 5,670 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $29.42, for a total transaction of $166,811.40. Following the completion of the sale, the director now owns 21,203 shares of the company’s stock, valued at approximately $623,792.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

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.