CenterPoint Energy, Inc. $CNP Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC increased its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 8.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,456 shares of the utilities provider’s stock after buying an additional 964 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in CenterPoint Energy were worth $458,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CNP. Nuveen LLC bought a new position in shares of CenterPoint Energy in the first quarter worth $92,025,000. GQG Partners LLC acquired a new stake in CenterPoint Energy in the first quarter worth about $78,632,000. Millennium Management LLC grew its position in CenterPoint Energy by 2,845.6% in the 1st quarter. Millennium Management LLC now owns 1,938,231 shares of the utilities provider’s stock valued at $70,222,000 after buying an additional 1,872,429 shares in the last quarter. American Century Companies Inc. increased its stake in CenterPoint Energy by 50.2% during the 1st quarter. American Century Companies Inc. now owns 5,118,233 shares of the utilities provider’s stock valued at $185,434,000 after buying an additional 1,709,682 shares during the period. Finally, Reaves W H & Co. Inc. raised its position in shares of 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 worth $158,891,000 after buying an additional 1,616,181 shares in the last quarter. Institutional investors own 91.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Mizuho increased their price objective on shares of CenterPoint Energy from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, September 30th. Barclays lifted their price target on CenterPoint Energy from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Wall Street Zen lowered CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Friday, July 18th. UBS Group lifted their target price on CenterPoint Energy from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Finally, Scotiabank boosted their price target on shares of CenterPoint Energy from $40.00 to $42.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 25th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CenterPoint Energy has a consensus rating of “Hold” and an average target price of $40.45.

CenterPoint Energy Price Performance

CNP stock opened at $39.65 on Friday. CenterPoint Energy, Inc. has a one year low of $28.57 and a one year high of $40.50. The firm has a 50-day moving average of $38.39 and a two-hundred day moving average of $37.54. The firm has a market capitalization of $25.88 billion, a PE ratio of 27.72, a P/E/G ratio of 2.84 and a beta of 0.57. The company has a current ratio of 0.79, a quick ratio of 0.61 and a debt-to-equity ratio of 1.87.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Thursday, July 24th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.15). The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $2.20 billion. CenterPoint Energy had a net margin of 10.42% and a return on equity of 9.16%. During the same quarter in the prior year, the firm 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 year.

CenterPoint Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 20th will be issued a dividend of $0.22 per share. 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 payout ratio is currently 61.54%.

About CenterPoint Energy

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.