Royal Bank of Canada Reduces Position in CenterPoint Energy, Inc. $CNP

Royal Bank of Canada lowered its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 5.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 536,805 shares of the utilities provider’s stock after selling 32,735 shares during the period. Royal Bank of Canada owned about 0.08% of CenterPoint Energy worth $23,168,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CNP. Norges Bank bought a new position in shares of CenterPoint Energy during the fourth quarter valued at approximately $343,925,000. T. Rowe Price Investment Management Inc. raised its holdings in CenterPoint Energy by 13.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 58,286,690 shares of the utilities provider’s stock worth $2,234,712,000 after purchasing an additional 6,794,535 shares in the last quarter. UBS Group AG raised its holdings in CenterPoint Energy by 31.3% in the 4th quarter. UBS Group AG now owns 7,261,079 shares of the utilities provider’s stock worth $278,390,000 after purchasing an additional 1,728,865 shares in the last quarter. Jennison Associates LLC lifted its position in shares of CenterPoint Energy by 19.4% in the 4th quarter. Jennison Associates LLC now owns 7,722,893 shares of the utilities provider’s stock worth $296,096,000 after purchasing an additional 1,256,993 shares during the period. Finally, Merewether Investment Management LP lifted its position in shares of CenterPoint Energy by 85.5% in the 3rd quarter. Merewether Investment Management LP now owns 2,493,500 shares of the utilities provider’s stock worth $96,748,000 after purchasing an additional 1,149,637 shares during the period. Hedge funds and other institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Stock Down 2.2%

CNP stock opened at $40.68 on Thursday. The stock has a market capitalization of $26.80 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.46 and a beta of 0.46. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.12 and a quick ratio of 0.97. CenterPoint Energy, Inc. has a 1-year low of $36.60 and a 1-year high of $45.26. The business has a fifty day moving average price of $43.13 and a 200-day moving average price of $42.56.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.03. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.12 billion. CenterPoint Energy had a net margin of 11.61% and a return on equity of 11.10%. During the same quarter last year, the company posted $0.29 earnings per share. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. Equities analysts forecast that CenterPoint Energy, Inc. will post 1.91 earnings per share for the current fiscal year.

CenterPoint Energy Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.96 annualized dividend and a yield of 2.4%. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.23. CenterPoint Energy’s payout ratio is currently 54.12%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company reissued an “overweight” rating and issued a $48.00 price target on shares of CenterPoint Energy in a research note on Tuesday, April 21st. 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. Evercore set a $45.00 target price on CenterPoint Energy in a research note on Monday, May 4th. Morgan Stanley set a $40.00 target price on CenterPoint Energy in a research note on Wednesday, July 22nd. Finally, KeyCorp reduced their price target on CenterPoint Energy from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $45.57.

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.