CenterPoint Energy, Inc. $CNP Shares Sold by AssuredPartners Investment Advisors LLC

AssuredPartners Investment Advisors LLC reduced its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 29.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,851 shares of the utilities provider’s stock after selling 2,794 shares during the quarter. AssuredPartners Investment Advisors LLC’s holdings in CenterPoint Energy were worth $252,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CNP. Nuveen LLC acquired a new stake in shares of CenterPoint Energy in the 1st quarter valued at approximately $92,025,000. GQG Partners LLC acquired a new stake in shares of CenterPoint Energy in the 1st quarter valued at approximately $78,632,000. Millennium Management LLC lifted its holdings in shares of 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 during the period. American Century Companies Inc. lifted its holdings in shares of CenterPoint Energy by 50.2% in 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. lifted its holdings in shares of CenterPoint Energy by 58.4% in the 1st quarter. Reaves W H & Co. Inc. now owns 4,385,632 shares of the utilities provider’s stock valued at $158,891,000 after buying an additional 1,616,181 shares during the period. 91.77% of the stock is owned by institutional investors and hedge funds.

CenterPoint Energy Stock Down 0.1%

Shares of NYSE:CNP opened at $39.65 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $25.88 billion, a P/E ratio of 27.72, a P/E/G ratio of 2.84 and a beta of 0.57. CenterPoint Energy, Inc. has a 52-week low of $28.57 and a 52-week high of $40.50. The stock’s fifty day simple moving average is $38.39 and its 200-day simple moving average is $37.54.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Thursday, July 24th. The utilities provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.15). The company 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 period in the previous year, the business earned $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. As a group, equities research analysts forecast that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

CenterPoint Energy Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.2%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 61.54%.

Analyst Ratings Changes

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on CenterPoint Energy from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. UBS Group raised their price objective on CenterPoint Energy from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Wall Street Zen downgraded CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Mizuho raised their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, September 30th. Finally, Morgan Stanley dropped their price objective on CenterPoint Energy from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Thursday, September 25th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $40.45.

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.