CenterPoint Energy, Inc. $CNP Shares Sold by Eastern Bank

Eastern Bank reduced its position in CenterPoint Energy, Inc. (NYSE:CNP) by 20.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,200 shares of the utilities provider’s stock after selling 300 shares during the quarter. Eastern Bank’s holdings in CenterPoint Energy were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of CNP. Brighton Jones LLC acquired a new stake in shares of CenterPoint Energy in the fourth quarter valued at approximately $254,000. GAMMA Investing LLC raised its stake in shares of CenterPoint Energy by 29.3% during the first quarter. GAMMA Investing LLC now owns 14,818 shares of the utilities provider’s stock worth $537,000 after purchasing an additional 3,359 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of CenterPoint Energy during the first quarter worth approximately $645,000. Fifth Third Bancorp raised its stake in shares of CenterPoint Energy by 2.4% during the first quarter. Fifth Third Bancorp now owns 20,838 shares of the utilities provider’s stock worth $755,000 after purchasing an additional 489 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of CenterPoint Energy by 106.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 74,108 shares of the utilities provider’s stock worth $2,685,000 after purchasing an additional 38,292 shares during the last quarter. 91.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wall Street Zen cut CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Evercore ISI assumed coverage on CenterPoint Energy in a research note on Monday, October 6th. They set an “in-line” rating and a $42.00 price target for the company. UBS Group upped their price target on CenterPoint Energy from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday. Mizuho increased their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. increased their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $39.68.

CenterPoint Energy Trading Down 0.1%

Shares of CNP stock opened at $39.20 on Tuesday. CenterPoint Energy, Inc. has a fifty-two week low of $28.57 and a fifty-two week high of $40.50. The stock has a market cap of $25.59 billion, a P/E ratio of 27.41, a P/E/G ratio of 2.76 and a beta of 0.57. The business has a fifty day simple moving average of $38.32 and a 200-day simple moving average of $37.47. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 1.87.

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). CenterPoint Energy had a net margin of 10.42% and a return on equity of 9.16%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the prior year, the business earned $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. On average, analysts forecast that CenterPoint Energy, Inc. will post 1.75 earnings per share 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. Stockholders of record on Thursday, November 20th will be given a $0.22 dividend. The ex-dividend date is Thursday, November 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.2%. CenterPoint Energy’s dividend payout ratio (DPR) is currently 61.54%.

CenterPoint Energy Company 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.