Pacer Advisors Inc. reduced its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP – Free Report) by 22.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 62,472 shares of the utilities provider’s stock after selling 17,728 shares during the period. Pacer Advisors Inc.’s holdings in CenterPoint Energy were worth $2,696,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Parallel Advisors LLC raised its position in shares of CenterPoint Energy by 7.0% during the first quarter. Parallel Advisors LLC now owns 5,925 shares of the utilities provider’s stock valued at $256,000 after buying an additional 388 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of CenterPoint Energy during the first quarter worth $346,000. Edgestream Partners L.P. bought a new position in shares of CenterPoint Energy during the first quarter worth $261,000. Strategic Investment Advisors MI grew its stake in CenterPoint Energy by 70.5% during the first quarter. Strategic Investment Advisors MI now owns 13,526 shares of the utilities provider’s stock valued at $584,000 after acquiring an additional 5,591 shares in the last quarter. Finally, Resolution Capital Ltd bought a new stake in CenterPoint Energy in the 1st quarter valued at $1,816,000. Institutional investors own 91.77% of the company’s stock.
Wall Street Analysts Forecast Growth
CNP has been the topic of several research analyst reports. BTIG Research started coverage on shares of CenterPoint Energy in a research note on Tuesday, June 30th. They issued a “neutral” rating on the stock. Jefferies Financial Group set a $50.00 price objective on CenterPoint Energy in a research report on Thursday, June 18th. BMO Capital Markets reduced their target price on CenterPoint Energy from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Wednesday, July 22nd. Wells Fargo & Company reiterated an “overweight” rating and issued a $48.00 target price on shares of CenterPoint Energy in a research report on Tuesday, April 21st. Finally, Morgan Stanley set a $40.00 price target on CenterPoint Energy in a research note on Wednesday, July 22nd. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, CenterPoint Energy currently has an average rating of “Hold” and a consensus target price of $45.57.
CenterPoint Energy Trading Up 0.0%
Shares of CNP opened at $40.67 on Friday. The stock has a market capitalization of $26.79 billion, a PE ratio of 23.92, a P/E/G ratio of 2.41 and a beta of 0.46. The company’s fifty day moving average is $43.07 and its 200 day moving average is $42.55. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.97 and a current ratio of 1.12. CenterPoint Energy, Inc. has a fifty-two week low of $36.60 and a fifty-two week high of $45.26.
CenterPoint Energy (NYSE:CNP – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. CenterPoint Energy had a net margin of 11.61% and a return on equity of 11.10%. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter last year, the business earned $0.29 earnings per share. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. Sell-side analysts expect that CenterPoint Energy, Inc. will post 1.91 earnings per share for the current fiscal year.
CenterPoint Energy Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 20th. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.23. CenterPoint Energy’s payout ratio is 54.12%.
CenterPoint Energy Profile
CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.
CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.
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