Longboard Asset Management LP Takes Position in CenterPoint Energy, Inc. $CNP

Longboard Asset Management LP bought a new stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,516 shares of the utilities provider’s stock, valued at approximately $203,000.

A number of other institutional investors have also recently modified their holdings of CNP. Brighton Jones LLC acquired a new stake in shares of CenterPoint Energy during the 4th quarter valued at about $254,000. Focus Partners Wealth acquired a new stake in CenterPoint Energy in the 4th quarter worth about $272,000. Janus Henderson Group PLC boosted its holdings in CenterPoint Energy by 1.8% in the 4th quarter. Janus Henderson Group PLC now owns 85,412 shares of the utilities provider’s stock worth $2,710,000 after buying an additional 1,493 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in CenterPoint Energy by 4.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,862 shares of the utilities provider’s stock worth $2,090,000 after buying an additional 2,990 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in CenterPoint Energy by 48.0% in the 4th quarter. Quantinno Capital Management LP now owns 27,332 shares of the utilities provider’s stock worth $867,000 after buying an additional 8,864 shares during the last quarter. 91.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CNP has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Wall Street Zen cut CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Mizuho set a $39.00 price objective on CenterPoint Energy and gave the stock a “neutral” rating in a report on Friday, July 25th. Morgan Stanley set a $38.00 price objective on CenterPoint Energy and gave the stock an “outperform” rating in a report on Thursday, August 21st. Finally, Barclays lifted their price objective on CenterPoint Energy from $38.00 to $39.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $38.50.

CenterPoint Energy Stock Performance

NYSE:CNP opened at $38.01 on Thursday. The company has a fifty day simple moving average of $37.83 and a two-hundred day simple moving average of $36.96. The company has a market cap of $24.82 billion, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 2.75 and a beta of 0.58. 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, Inc. has a 52 week low of $27.92 and a 52 week high of $39.39.

CenterPoint Energy (NYSE:CNP) last posted 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 during the quarter, compared to analyst estimates of $2.20 billion. CenterPoint Energy had a return on equity of 9.16% and a net margin of 10.42%.During the same quarter last year, the firm earned $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. As a group, equities analysts anticipate that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

CenterPoint Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st were paid a $0.22 dividend. The ex-dividend date was Thursday, August 21st. This represents a $0.88 annualized dividend and a dividend yield of 2.3%. CenterPoint Energy’s payout ratio is 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.