Elevation Point Wealth Partners LLC Purchases New Stake in CenterPoint Energy, Inc. $CNP

Elevation Point Wealth Partners LLC acquired a new position in CenterPoint Energy, Inc. (NYSE:CNP) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 37,382 shares of the utilities provider’s stock, valued at approximately $1,646,000.

Several other hedge funds have also recently bought and sold shares of CNP. Caitong International Asset Management Co. Ltd grew its stake in CenterPoint Energy by 49.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 235 shares in the last quarter. Focus Financial Network Inc. lifted its position in shares of CenterPoint Energy by 4.9% in the second quarter. Focus Financial Network Inc. now owns 5,089 shares of the utilities provider’s stock worth $224,000 after purchasing an additional 239 shares in the last quarter. Zacks Investment Management lifted its position in shares of CenterPoint Energy by 0.8% in the third quarter. Zacks Investment Management now owns 31,142 shares of the utilities provider’s stock worth $1,208,000 after purchasing an additional 256 shares in the last quarter. CX Institutional lifted its position in shares of CenterPoint Energy by 3.7% in the second quarter. CX Institutional now owns 7,643 shares of the utilities provider’s stock worth $337,000 after purchasing an additional 275 shares in the last quarter. Finally, Horizon Investments LLC boosted its holdings in shares of CenterPoint Energy by 3.2% during the fourth quarter. Horizon Investments LLC now owns 10,483 shares of the utilities provider’s stock worth $402,000 after purchasing an additional 326 shares during the period. 91.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of CenterPoint Energy in a research note on Monday, June 15th. Wall Street Zen upgraded CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Jefferies Financial Group set a $50.00 target price on CenterPoint Energy in a research note on Thursday, June 18th. BMO Capital Markets cut their price target on CenterPoint Energy from $48.00 to $47.00 and set an “outperform” rating for the company in a research note on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. boosted their price target on CenterPoint Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, CenterPoint Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.36.

CenterPoint Energy Stock Performance

NYSE:CNP opened at $38.81 on Monday. CenterPoint Energy, Inc. has a 1 year low of $36.60 and a 1 year high of $45.26. The firm’s fifty day simple moving average is $42.69 and its 200 day simple moving average is $42.63. The company has a current ratio of 1.12, a quick ratio of 0.97 and a debt-to-equity ratio of 1.95. The firm has a market capitalization of $25.56 billion, a PE ratio of 22.83, a PEG ratio of 2.30 and a beta of 0.46.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Tuesday, July 28th. The utilities provider reported $0.40 EPS for the quarter, topping 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 firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter last year, the firm posted $0.29 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. On average, sell-side analysts anticipate that CenterPoint Energy, Inc. will post 1.91 EPS for the current year.

CenterPoint Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.96 annualized dividend and a dividend yield of 2.5%. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.23. CenterPoint Energy’s payout ratio is presently 56.47%.

CenterPoint Energy Company 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.