23,422 Shares in CenterPoint Energy, Inc. $CNP Acquired by WESPAC Advisors LLC

WESPAC Advisors LLC acquired a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 23,422 shares of the utilities provider’s stock, valued at approximately $861,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its stake in CenterPoint Energy by 8.6% during the first quarter. Janney Montgomery Scott LLC now owns 80,229 shares of the utilities provider’s stock worth $2,907,000 after acquiring an additional 6,377 shares during the last quarter. QRG Capital Management Inc. increased its stake in CenterPoint Energy by 8.8% during the first quarter. QRG Capital Management Inc. now owns 19,913 shares of the utilities provider’s stock worth $721,000 after acquiring an additional 1,615 shares during the last quarter. Principal Financial Group Inc. increased its stake in CenterPoint Energy by 3.1% during the first quarter. Principal Financial Group Inc. now owns 864,175 shares of the utilities provider’s stock worth $31,309,000 after acquiring an additional 26,153 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in CenterPoint Energy by 5.6% during the first quarter. Nisa Investment Advisors LLC now owns 166,743 shares of the utilities provider’s stock worth $6,041,000 after acquiring an additional 8,914 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its stake in CenterPoint Energy by 472.8% during the first quarter. Golden State Wealth Management LLC now owns 1,220 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 1,007 shares during the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Evercore ISI assumed coverage on CenterPoint Energy in a research note on Monday. They set an “in-line” rating and a $42.00 target price for the company. Wall Street Zen cut CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Scotiabank lifted their price objective on CenterPoint Energy from $40.00 to $42.00 and gave the company a “sector outperform” rating in a research note on Friday, July 25th. BMO Capital Markets lifted their price objective on CenterPoint Energy from $39.00 to $41.00 and gave the company a “market perform” rating in a research note on Thursday, October 2nd. Finally, Barclays lifted their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, CenterPoint Energy currently has a consensus rating of “Hold” and an average price target of $38.86.

CenterPoint Energy Trading Down 0.2%

CNP opened at $39.40 on Wednesday. CenterPoint Energy, Inc. has a 12 month low of $28.57 and a 12 month high of $40.50. The stock has a market capitalization of $25.72 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 2.78 and a beta of 0.57. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.79 and a quick ratio of 0.61. The business has a fifty day moving average price of $38.28 and a 200 day moving average price of $37.35.

CenterPoint Energy (NYSE:CNP) last released its 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). CenterPoint Energy had a return on equity of 9.16% and a net margin of 10.42%.The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the firm earned $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. Sell-side analysts expect that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

CenterPoint Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 20th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, November 20th. CenterPoint Energy’s payout ratio is presently 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.