State of Alaska Department of Revenue Sells 9,080 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

State of Alaska Department of Revenue lowered its stake in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,326 shares of the utilities provider's stock after selling 9,080 shares during the quarter. State of Alaska Department of Revenue's holdings in CenterPoint Energy were worth $2,358,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CNP. Wilmington Savings Fund Society FSB acquired a new stake in CenterPoint Energy in the third quarter worth about $26,000. First Horizon Advisors Inc. lifted its holdings in CenterPoint Energy by 51.3% in the 3rd 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 holdings in CenterPoint Energy by 53.0% in the 4th 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 acquired a new stake in CenterPoint Energy in the 3rd quarter valued at about $52,000. Finally, GHP Investment Advisors Inc. lifted its holdings in CenterPoint Energy by 25.7% in the 3rd 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 Analysts Forecast Growth

A number of brokerages have weighed in on CNP. Barclays upped their price target on shares of CenterPoint Energy from $29.00 to $30.00 and gave the company an "underweight" rating in a report on Monday, January 27th. StockNews.com lowered shares of CenterPoint Energy from a "hold" rating to a "sell" rating in a research note on Thursday, October 17th. Scotiabank raised shares of CenterPoint Energy from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the company from $30.00 to $35.00 in a research note on Thursday, December 12th. Morgan Stanley reduced their price objective on shares of CenterPoint Energy from $32.00 to $31.00 and set an "equal weight" rating for the company in a research note on Friday, November 22nd. Finally, LADENBURG THALM/SH SH initiated coverage on shares of CenterPoint Energy in a research note on Thursday, December 12th. They set a "buy" rating and a $34.50 price objective for the company. Two equities research 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.com, the stock presently has an average rating of "Hold" and an average target price of $31.46.

CenterPoint Energy Stock Up 0.0 %

NYSE:CNP traded up $0.02 during mid-day trading on Friday, reaching $33.45. The stock had a trading volume of 5,219,914 shares, compared to its average volume of 3,960,134. The business's 50 day moving average is $32.11 and its 200 day moving average is $30.06. CenterPoint Energy, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $33.85. The stock has a market cap of $21.80 billion, a P/E ratio of 22.15, a PEG ratio of 2.61 and a beta of 0.95. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.92.

CenterPoint Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $0.88 dividend on an annualized basis and a yield of 2.63%. This is an increase from CenterPoint Energy's previous quarterly dividend of $0.21. CenterPoint Energy's dividend payout ratio is currently 55.63%.

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.