CenterPoint Energy, Inc. (NYSE:CNP) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 3.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 847,950 shares of the utilities provider’s stock after selling 33,415 shares during the quarter. California State Teachers Retirement System’s holdings in CenterPoint Energy were worth $24,158,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Crewe Advisors LLC purchased a new stake in CenterPoint Energy in the 1st quarter valued at $25,000. Global Retirement Partners LLC increased its stake in CenterPoint Energy by 163.7% in the 4th quarter. Global Retirement Partners LLC now owns 894 shares of the utilities provider’s stock valued at $26,000 after buying an additional 555 shares during the period. FinTrust Capital Advisors LLC increased its stake in CenterPoint Energy by 60.3% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock valued at $34,000 after buying an additional 452 shares during the period. Tobam acquired a new position in CenterPoint Energy in the 1st quarter valued at $35,000. Finally, ICA Group Wealth Management LLC acquired a new position in CenterPoint Energy in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Price Performance

CenterPoint Energy stock traded up $0.23 during midday trading on Thursday, hitting $27.98. The company’s stock had a trading volume of 163,573 shares, compared to its average volume of 4,772,151. The company has a quick ratio of 1.06, a current ratio of 1.20 and a debt-to-equity ratio of 1.79. The stock’s 50-day moving average price is $29.97 and its 200-day moving average price is $28.87. CenterPoint Energy, Inc. has a 12 month low of $25.42 and a 12 month high of $31.57. The company has a market capitalization of $17.90 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 2.51 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the business earned $0.28 earnings per share. Analysts anticipate that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CNP. StockNews.com raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Wednesday. Scotiabank lowered their price target on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Morgan Stanley cut shares of CenterPoint Energy from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $30.00 to $29.00 in a research note on Wednesday, July 17th. KeyCorp cut their price objective on shares of CenterPoint Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, BMO Capital Markets cut their price target on shares of CenterPoint Energy from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.50.

Insiders Place Their Bets

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