Jennison Associates LLC Boosts Stake in CenterPoint Energy, Inc. $CNP

Jennison Associates LLC lifted its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 19.4% during the 4th quarter, HoldingsChannel reports. The fund owned 7,722,893 shares of the utilities provider’s stock after purchasing an additional 1,256,993 shares during the period. Jennison Associates LLC’s holdings in CenterPoint Energy were worth $296,096,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Capital International Investors boosted its stake in shares of CenterPoint Energy by 1.0% during the 3rd quarter. Capital International Investors now owns 87,129,628 shares of the utilities provider’s stock worth $3,381,069,000 after acquiring an additional 833,374 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of CenterPoint Energy by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 82,381,128 shares of the utilities provider’s stock worth $3,158,492,000 after acquiring an additional 719,803 shares in the last quarter. UBS Group AG boosted its stake in shares of CenterPoint Energy by 31.3% during the 4th quarter. UBS Group AG now owns 7,261,079 shares of the utilities provider’s stock worth $278,390,000 after acquiring an additional 1,728,865 shares in the last quarter. Reaves W H & Co. Inc. boosted its stake in shares of CenterPoint Energy by 15.4% during the 3rd quarter. Reaves W H & Co. Inc. now owns 7,220,266 shares of the utilities provider’s stock worth $280,146,000 after acquiring an additional 962,910 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of CenterPoint Energy by 10.2% during the 3rd quarter. American Century Companies Inc. now owns 6,115,513 shares of the utilities provider’s stock worth $237,282,000 after acquiring an additional 568,130 shares in the last quarter. 91.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CNP. Jefferies Financial Group increased their target price on shares of CenterPoint Energy from $44.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. KeyCorp increased their target price on shares of CenterPoint Energy from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. Citigroup reissued a “neutral” rating on shares of CenterPoint Energy in a research note on Thursday, February 19th. Morgan Stanley reissued an “underperform” rating and set a $37.00 target price on shares of CenterPoint Energy in a research note on Wednesday, January 21st. Finally, Bank of America increased their target price on shares of CenterPoint Energy from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.15.

CenterPoint Energy Trading Up 1.0%

Shares of CenterPoint Energy stock opened at $43.27 on Thursday. The firm has a market capitalization of $28.30 billion, a PE ratio of 26.57, a P/E/G ratio of 2.54 and a beta of 0.54. CenterPoint Energy, Inc. has a twelve month low of $35.46 and a twelve month high of $44.47. The firm’s 50-day moving average price is $43.07 and its 200 day moving average price is $40.59. The company has a current ratio of 1.16, a quick ratio of 1.04 and a debt-to-equity ratio of 1.96.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Thursday, April 23rd. The utilities provider reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). The company had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $1.98 billion. CenterPoint Energy had a net margin of 11.38% and a return on equity of 10.56%. During the same period in the prior year, the business posted $0.53 earnings per share. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. On average, sell-side analysts predict that CenterPoint Energy, Inc. will post 1.91 EPS for the current fiscal year.

CenterPoint Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 21st will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.92 dividend on an annualized basis and a yield of 2.1%. CenterPoint Energy’s dividend payout ratio (DPR) is currently 56.44%.

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.