Mutual of America Capital Management LLC Sells 2,285 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Mutual of America Capital Management LLC trimmed its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 2.9% in the 1st quarter, Holdings Channel reports. The firm owned 75,778 shares of the utilities provider’s stock after selling 2,285 shares during the quarter. Mutual of America Capital Management LLC’s holdings in CenterPoint Energy were worth $2,745,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Xponance Inc. lifted its position in shares of CenterPoint Energy by 1.7% during the first quarter. Xponance Inc. now owns 93,232 shares of the utilities provider’s stock worth $3,378,000 after purchasing an additional 1,597 shares during the last quarter. Allworth Financial LP increased its stake in shares of CenterPoint Energy by 27.2% during the first quarter. Allworth Financial LP now owns 6,035 shares of the utilities provider’s stock valued at $229,000 after buying an additional 1,289 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of CenterPoint Energy by 5.6% during the first quarter. Nisa Investment Advisors LLC now owns 166,743 shares of the utilities provider’s stock valued at $6,041,000 after buying an additional 8,914 shares during the period. Greenleaf Trust increased its stake in shares of CenterPoint Energy by 8.9% during the first quarter. Greenleaf Trust now owns 25,429 shares of the utilities provider’s stock valued at $921,000 after buying an additional 2,078 shares during the period. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in shares of CenterPoint Energy during the first quarter valued at $264,000. 91.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CNP has been the topic of several research reports. Evercore ISI raised their price target on CenterPoint Energy from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Scotiabank restated an “outperform” rating and set a $40.00 price target (up previously from $35.00) on shares of CenterPoint Energy in a research note on Friday, April 25th. Wall Street Zen lowered CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Friday. Jefferies Financial Group initiated coverage on CenterPoint Energy in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $42.00 target price on the stock. Finally, Morgan Stanley cut their target price on CenterPoint Energy from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, CenterPoint Energy has a consensus rating of “Hold” and an average price target of $36.13.

CenterPoint Energy Price Performance

Shares of CNP stock opened at $37.27 on Friday. CenterPoint Energy, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $39.31. The firm has a market capitalization of $24.33 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 2.67 and a beta of 0.57. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.79 and a current ratio of 0.93. The stock’s 50-day simple moving average is $36.58 and its 200-day simple moving average is $35.35.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). CenterPoint Energy had a return on equity of 9.74% and a net margin of 10.80%. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. As a group, equities analysts forecast that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

CenterPoint Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be paid 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 dividend yield of 2.36%. CenterPoint Energy’s payout ratio is 59.06%.

CenterPoint Energy Company 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.