CenterPoint Energy, Inc. $CNP Stock Position Lifted by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC raised its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 8.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,456 shares of the utilities provider’s stock after purchasing an additional 964 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in CenterPoint Energy were worth $458,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of CenterPoint Energy by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 80,061,059 shares of the utilities provider’s stock valued at $2,900,612,000 after acquiring an additional 671,868 shares in the last quarter. Northern Trust Corp boosted its position in CenterPoint Energy by 0.9% during the first quarter. Northern Trust Corp now owns 5,934,611 shares of the utilities provider’s stock valued at $215,011,000 after purchasing an additional 54,596 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in CenterPoint Energy by 0.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,408,135 shares of the utilities provider’s stock valued at $195,938,000 after purchasing an additional 42,536 shares in the last quarter. American Century Companies Inc. increased its position in CenterPoint Energy by 50.2% in the 1st 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 during the last quarter. Finally, Reaves W H & Co. Inc. raised its stake in shares of 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 purchasing an additional 1,616,181 shares in the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.

Analysts Set New Price Targets

CNP has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of CenterPoint Energy in a research note on Wednesday, October 8th. Wall Street Zen cut shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Barclays increased their price target on shares of CenterPoint Energy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Morgan Stanley cut their target price on shares of CenterPoint Energy from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Thursday, September 25th. Finally, BMO Capital Markets raised their price target on shares of CenterPoint Energy from $39.00 to $41.00 and gave the stock a “market perform” rating in a research report on Thursday, October 2nd. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, CenterPoint Energy presently has a consensus rating of “Hold” and a consensus price target of $40.45.

CenterPoint Energy Price Performance

CenterPoint Energy stock opened at $39.65 on Friday. 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 company 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. CenterPoint Energy, Inc. has a one year low of $28.57 and a one year high of $40.50. The business has a 50 day simple moving average of $38.39 and a 200 day simple moving average of $37.54.

CenterPoint Energy (NYSE:CNP) last announced 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). The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $2.20 billion. CenterPoint Energy had a net margin of 10.42% and a return on equity of 9.16%. During the same quarter last year, the company earned $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. On average, sell-side analysts forecast that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.

CenterPoint Energy Dividend Announcement

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

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.