Board of the Pension Protection Fund Makes New Investment in CenterPoint Energy, Inc. $CNP

Board of the Pension Protection Fund bought a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 25,500 shares of the utilities provider’s stock, valued at approximately $937,000.

Several other hedge funds have also recently bought and sold shares of CNP. Nuveen LLC acquired a new position in CenterPoint Energy during the 1st quarter worth about $92,025,000. GQG Partners LLC acquired a new stake in shares of CenterPoint Energy during the first quarter worth about $78,632,000. Millennium Management LLC lifted its position in shares of CenterPoint Energy by 2,845.6% during the first quarter. Millennium Management LLC now owns 1,938,231 shares of the utilities provider’s stock worth $70,222,000 after purchasing an additional 1,872,429 shares in the last quarter. American Century Companies Inc. lifted its position in shares of CenterPoint Energy by 50.2% during the first quarter. American Century Companies Inc. now owns 5,118,233 shares of the utilities provider’s stock worth $185,434,000 after purchasing an additional 1,709,682 shares in the last quarter. Finally, Reaves W H & Co. Inc. lifted its holdings in CenterPoint Energy by 58.4% during the 1st quarter. Reaves W H & Co. Inc. now owns 4,385,632 shares of the utilities provider’s stock worth $158,891,000 after buying an additional 1,616,181 shares in the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.

CenterPoint Energy Price Performance

Shares of CNP opened at $39.22 on Friday. CenterPoint Energy, Inc. has a twelve month low of $28.57 and a twelve month high of $40.50. The company has a current ratio of 0.79, a quick ratio of 0.61 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $25.61 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 2.76 and a beta of 0.57. The firm’s fifty day simple moving average is $38.32 and its 200-day simple moving average is $37.43.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Thursday, July 24th. The utilities provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.15). CenterPoint Energy had a net margin of 10.42% and a return on equity of 9.16%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. Equities analysts forecast that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.

CenterPoint Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 20th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, November 20th. CenterPoint Energy’s dividend payout ratio (DPR) is 61.54%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CNP shares. Morgan Stanley reduced their target price on shares of CenterPoint Energy from $38.00 to $37.00 and set an “equal weight” rating on the stock in a report on Thursday, September 25th. JPMorgan Chase & Co. increased their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Scotiabank increased their price objective on CenterPoint Energy from $40.00 to $42.00 and gave the company a “sector outperform” rating in a research note on Friday, July 25th. Evercore ISI started coverage on CenterPoint Energy in a research note on Monday, October 6th. They issued an “in-line” rating and a $42.00 price objective on the stock. Finally, Wall Street Zen lowered CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, CenterPoint Energy has a consensus rating of “Hold” and a consensus price target of $39.68.

About CenterPoint Energy

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.