Riverbend Wealth Management LLC Takes $212,000 Position in CenterPoint Energy, Inc. $CNP

Riverbend Wealth Management LLC purchased a new position in CenterPoint Energy, Inc. (NYSE:CNP) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,757 shares of the utilities provider’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in CenterPoint Energy by 0.8% during the first quarter. Vanguard Group Inc. now owns 80,061,059 shares of the utilities provider’s stock valued at $2,900,612,000 after buying an additional 671,868 shares during the last quarter. Northern Trust Corp increased its holdings in shares of CenterPoint Energy by 0.9% during the first quarter. Northern Trust Corp now owns 5,934,611 shares of the utilities provider’s stock valued at $215,011,000 after acquiring an additional 54,596 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of CenterPoint Energy by 0.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,408,135 shares of the utilities provider’s stock worth $195,938,000 after purchasing an additional 42,536 shares during the last quarter. American Century Companies Inc. boosted its stake in CenterPoint Energy by 50.2% in the 1st quarter. American Century Companies Inc. now owns 5,118,233 shares of the utilities provider’s stock worth $185,434,000 after purchasing an additional 1,709,682 shares in the last quarter. Finally, Reaves W H & Co. Inc. grew its position in CenterPoint Energy by 58.4% during the 1st quarter. Reaves W H & Co. Inc. now owns 4,385,632 shares of the utilities provider’s stock valued at $158,891,000 after purchasing an additional 1,616,181 shares during the last quarter. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Analyst Ratings Changes

CNP has been the topic of several analyst reports. Scotiabank upped their target price on shares of CenterPoint Energy from $40.00 to $42.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 25th. Wall Street Zen cut CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. Morgan Stanley cut their target price on CenterPoint Energy from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 25th. Barclays boosted their price target on CenterPoint Energy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Finally, UBS Group increased their price objective on CenterPoint Energy from $44.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $40.45.

CenterPoint Energy Trading Down 0.4%

Shares of NYSE:CNP opened at $39.71 on Friday. The stock’s 50-day simple moving average is $38.37 and its two-hundred day simple moving average is $37.52. The stock has a market capitalization of $25.93 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 2.86 and a beta of 0.57. CenterPoint Energy, Inc. has a 52-week low of $28.57 and a 52-week high of $40.50. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.61 and a current ratio of 0.79.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Thursday, July 24th. The utilities provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.15). The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $2.20 billion. CenterPoint Energy had a net margin of 10.42% and a return on equity of 9.16%. During the same period in the previous year, the company earned $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. Analysts expect that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

CenterPoint Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders 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 annualized dividend and a yield of 2.2%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 61.54%.

CenterPoint Energy 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.