Axxcess Wealth Management LLC Makes New $1.31 Million Investment in CenterPoint Energy, Inc. $CNP

Axxcess Wealth Management LLC acquired a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 35,596 shares of the utilities provider’s stock, valued at approximately $1,308,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CNP. N.E.W. Advisory Services LLC purchased a new stake in CenterPoint Energy during the 1st quarter worth approximately $25,000. ST Germain D J Co. Inc. bought a new stake in shares of CenterPoint Energy in the 2nd quarter valued at approximately $26,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of CenterPoint Energy in the 1st quarter valued at approximately $27,000. Chung Wu Investment Group LLC bought a new stake in shares of CenterPoint Energy in the 2nd quarter valued at approximately $29,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of CenterPoint Energy in the 2nd quarter valued at approximately $33,000. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

CenterPoint Energy Trading Down 0.4%

NYSE:CNP opened at $39.71 on Friday. CenterPoint Energy, Inc. has a 12-month low of $28.57 and a 12-month high of $40.50. The firm has a market capitalization of $25.93 billion, a P/E ratio of 27.77, a P/E/G ratio of 2.86 and a beta of 0.57. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.79 and a quick ratio of 0.61. The business has a 50 day simple moving average of $38.37 and a 200 day simple moving average of $37.52.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, July 24th. The utilities provider reported $0.29 earnings per share (EPS) 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 company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. Equities research analysts predict that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

CenterPoint Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CNP. UBS Group boosted their price target on CenterPoint Energy from $44.00 to $46.00 and gave the company a “buy” rating in a report on Friday, October 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of CenterPoint Energy in a report on Wednesday, October 8th. Scotiabank boosted their price target on CenterPoint Energy from $40.00 to $42.00 and gave the company a “sector outperform” rating in a report on Friday, July 25th. Barclays boosted their price target on CenterPoint Energy from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Finally, JPMorgan Chase & Co. boosted their price target on CenterPoint Energy from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.45.

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.