Prime Capital Investment Advisors LLC Sells 591 Shares of CenterPoint Energy, Inc. $CNP

Prime Capital Investment Advisors LLC trimmed its position in CenterPoint Energy, Inc. (NYSE:CNP) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,506 shares of the utilities provider’s stock after selling 591 shares during the period. Prime Capital Investment Advisors LLC’s holdings in CenterPoint Energy were worth $533,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CNP. Janney Montgomery Scott LLC boosted its position in shares of CenterPoint Energy by 8.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 80,229 shares of the utilities provider’s stock valued at $2,907,000 after acquiring an additional 6,377 shares during the last quarter. QRG Capital Management Inc. lifted its position 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 valued at $721,000 after purchasing an additional 1,615 shares during the last quarter. Principal Financial Group Inc. lifted its position 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 valued at $31,309,000 after purchasing an additional 26,153 shares during the last quarter. Nisa Investment Advisors LLC lifted its position 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 valued at $6,041,000 after purchasing an additional 8,914 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its position 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 valued at $44,000 after purchasing an additional 1,007 shares during the last quarter. Institutional investors own 91.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Scotiabank lifted their price objective on shares of CenterPoint Energy from $40.00 to $42.00 and gave the stock a “sector outperform” rating in a report on Friday, July 25th. Barclays lifted 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. JPMorgan Chase & Co. lifted their price target on CenterPoint Energy from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 15th. Evercore ISI assumed coverage on CenterPoint Energy in a research report on Monday. They issued an “in-line” rating and a $42.00 target price for the company. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of CenterPoint Energy in a research report on Wednesday. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, CenterPoint Energy has an average rating of “Hold” and an average target price of $39.68.

CenterPoint Energy Trading Up 0.3%

NYSE CNP opened at $39.22 on Friday. CenterPoint Energy, Inc. has a 1-year low of $28.57 and a 1-year high of $40.50. The company has a current ratio of 0.79, a quick ratio of 0.61 and a debt-to-equity ratio of 1.87. The stock has a 50-day moving average of $38.32 and a 200-day moving average of $37.42. The firm has a market cap of $25.61 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 2.75 and a beta of 0.57.

CenterPoint Energy (NYSE:CNP) last released its earnings results on Thursday, July 24th. The utilities provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.15). CenterPoint Energy had a net margin of 10.42% and a return on equity of 9.16%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the firm posted $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. As a group, sell-side analysts forecast that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

CenterPoint Energy Announces Dividend

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