CenterPoint Energy, Inc. $CNP Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 8.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 374,424 shares of the utilities provider’s stock after selling 36,078 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CenterPoint Energy were worth $13,674,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNP. Brighton Jones LLC acquired a new stake in shares of CenterPoint Energy during the 4th quarter worth about $254,000. GAMMA Investing LLC boosted its holdings in CenterPoint Energy by 29.3% during the 1st quarter. GAMMA Investing LLC now owns 14,818 shares of the utilities provider’s stock valued at $537,000 after acquiring an additional 3,359 shares during the period. SG Americas Securities LLC purchased a new position in CenterPoint Energy during the 1st quarter valued at about $645,000. Wealth Enhancement Advisory Services LLC boosted its holdings in CenterPoint Energy by 106.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 74,108 shares of the utilities provider’s stock valued at $2,685,000 after acquiring an additional 38,292 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in CenterPoint Energy by 8.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 80,229 shares of the utilities provider’s stock valued at $2,907,000 after acquiring an additional 6,377 shares during the period. 91.77% of the stock is owned by institutional investors and hedge funds.

CenterPoint Energy Price Performance

Shares of NYSE CNP opened at $39.65 on Friday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.61 and a current ratio of 0.79. CenterPoint Energy, Inc. has a fifty-two week low of $28.57 and a fifty-two week high of $40.50. The firm has a market capitalization of $25.88 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 2.84 and a beta of 0.57. The stock’s 50-day simple moving average is $38.39 and its 200-day simple moving average is $37.54.

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

CenterPoint Energy Dividend Announcement

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%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CNP. Evercore ISI began coverage on CenterPoint Energy in a report on Monday, October 6th. They set an “in-line” rating and a $42.00 target price for the company. Morgan Stanley lowered their target price on CenterPoint Energy from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Thursday, September 25th. Wall Street Zen cut CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Weiss Ratings restated a “buy (b-)” rating on shares of CenterPoint Energy in a report on Wednesday, October 8th. Finally, Barclays lifted their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, CenterPoint Energy currently has an average rating of “Hold” and an average target price of $40.45.

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.