Palisade Asset Management LLC Cuts Stock Holdings in CenterPoint Energy, Inc. $CNP

Palisade Asset Management LLC lessened its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 25.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,340 shares of the utilities provider’s stock after selling 17,497 shares during the quarter. Palisade Asset Management LLC’s holdings in CenterPoint Energy were worth $1,930,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CNP. Brighton Jones LLC purchased a new position in CenterPoint Energy in the fourth quarter valued at $254,000. AQR Capital Management LLC increased its holdings in CenterPoint Energy by 15.6% in the first quarter. AQR Capital Management LLC now owns 76,100 shares of the utilities provider’s stock valued at $2,757,000 after buying an additional 10,277 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in CenterPoint Energy by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,683 shares of the utilities provider’s stock valued at $2,525,000 after buying an additional 3,821 shares during the last quarter. Empowered Funds LLC increased its holdings in CenterPoint Energy by 11.5% in the first quarter. Empowered Funds LLC now owns 13,411 shares of the utilities provider’s stock valued at $486,000 after buying an additional 1,384 shares during the last quarter. Finally, Woodline Partners LP increased its holdings in CenterPoint Energy by 40.7% in the first quarter. Woodline Partners LP now owns 55,061 shares of the utilities provider’s stock valued at $1,995,000 after buying an additional 15,922 shares during the last quarter. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CNP. KeyCorp increased their target price on CenterPoint Energy from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Bank of America increased their target price on CenterPoint Energy from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Truist Financial dropped their target price on CenterPoint Energy from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Jefferies Financial Group increased their target price on CenterPoint Energy from $44.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Finally, Mizuho set a $44.00 price objective on shares of CenterPoint Energy in a research note on Monday, February 23rd. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $44.62.

CenterPoint Energy Stock Performance

NYSE CNP opened at $42.85 on Monday. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.16 and a quick ratio of 1.04. CenterPoint Energy, Inc. has a 1 year low of $35.46 and a 1 year high of $44.47. The company has a market capitalization of $28.03 billion, a PE ratio of 26.29, a P/E/G ratio of 2.54 and a beta of 0.46. The company has a fifty day moving average of $42.66 and a two-hundred day moving average of $41.21.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, April 23rd. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.02). CenterPoint Energy had a net margin of 11.38% and a return on equity of 10.56%. The company had revenue of $2.98 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the company earned $0.53 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. As a group, analysts expect that CenterPoint Energy, Inc. will post 1.91 earnings per share for the current year.

CenterPoint Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.23 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. CenterPoint Energy’s dividend payout ratio is 56.44%.

About CenterPoint Energy

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.