Sumitomo Mitsui Trust Group Inc. Sells 52,612 Shares of CenterPoint Energy, Inc. $CNP

Sumitomo Mitsui Trust Group Inc. lowered its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 3.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,358,663 shares of the utilities provider’s stock after selling 52,612 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in CenterPoint Energy were worth $49,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in CenterPoint Energy during the third quarter worth $6,155,000. Vise Technologies Inc. grew its stake in shares of CenterPoint Energy by 25.0% in the third quarter. Vise Technologies Inc. now owns 18,922 shares of the utilities provider’s stock valued at $696,000 after buying an additional 3,782 shares in the last quarter. Peak Financial Advisors LLC increased its stake in shares of CenterPoint Energy by 19.4% in the third quarter. Peak Financial Advisors LLC now owns 108,995 shares of the utilities provider’s stock worth $4,011,000 after buying an additional 17,731 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of CenterPoint Energy by 381.3% in the 3rd quarter. International Assets Investment Management LLC now owns 75,000 shares of the utilities provider’s stock worth $2,760,000 after buying an additional 59,418 shares during the last quarter. Finally, North Dakota State Investment Board grew its position in shares of CenterPoint Energy by 3.4% during the third quarter. North Dakota State Investment Board now owns 20,034 shares of the utilities provider’s stock worth $737,000 after acquiring an additional 659 shares during the last quarter. Hedge funds and other institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Stock Down 3.5%

Shares of NYSE CNP opened at $41.04 on Thursday. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.15 and a quick ratio of 0.97. The stock has a market capitalization of $27.20 billion, a PE ratio of 23.45, a P/E/G ratio of 2.81 and a beta of 0.43. CenterPoint Energy, Inc. has a one year low of $36.37 and a one year high of $45.26. The business’s fifty day moving average price is $39.33 and its 200-day moving average price is $41.58.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Tuesday, October 27th. The utilities provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.17 billion. CenterPoint Energy had a net margin of 11.76% and a return on equity of 11.16%. During the same period last year, the firm posted $0.50 earnings per share. On average, equities research analysts anticipate that CenterPoint Energy, Inc. will post 1.91 EPS for the current year.

CenterPoint Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, November 19th. CenterPoint Energy’s payout ratio is currently 54.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CNP shares. Mizuho set a $43.00 target price on CenterPoint Energy in a report on Wednesday, October 28th. Evercore set a $43.00 price target on shares of CenterPoint Energy in a research report on Monday, August 17th. BMO Capital Markets reduced their price objective on shares of CenterPoint Energy from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, October 19th. Citigroup decreased their price target on CenterPoint Energy from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, October 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of CenterPoint Energy in a report on Thursday, October 29th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.29.

About CenterPoint Energy

CenterPoint Energy, Inc is a public utility holding company that provides electric and natural gas energy services in the United States. Its operations include electric transmission and distribution, natural gas distribution, and related infrastructure services for residential, commercial, and industrial customers.

The company is the primary electric delivery utility for the Houston, Texas, area and operates electric and natural gas businesses in several states, including Texas, Indiana, Ohio, Louisiana, and Mississippi.