CenterPoint Energy, Inc. $CNP Shares Purchased by Magellan Asset Management Ltd

Magellan Asset Management Ltd boosted its position in CenterPoint Energy, Inc. (NYSE:CNP) by 23.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 683,118 shares of the utilities provider’s stock after buying an additional 129,179 shares during the period. Magellan Asset Management Ltd’s holdings in CenterPoint Energy were worth $29,483,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. ABN Amro Investment Solutions lifted its stake in shares of CenterPoint Energy by 11.6% in the 1st quarter. ABN Amro Investment Solutions now owns 36,817 shares of the utilities provider’s stock worth $1,589,000 after acquiring an additional 3,834 shares during the period. PNC Financial Services Group Inc. lifted its position in CenterPoint Energy by 11.4% in the first quarter. PNC Financial Services Group Inc. now owns 145,820 shares of the utilities provider’s stock valued at $6,294,000 after purchasing an additional 14,910 shares during the period. Oslo Pensjonsforsikring AS purchased a new stake in CenterPoint Energy in the 1st quarter valued at approximately $244,000. Andra AP fonden acquired a new position in CenterPoint Energy during the 1st quarter worth approximately $4,484,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of CenterPoint Energy during the 1st quarter worth approximately $66,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Wall Street Analyst Weigh In

CNP has been the topic of a number of analyst reports. Barclays lifted their price target on CenterPoint Energy from $38.00 to $44.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. JPMorgan Chase & Co. upped their price target on shares of CenterPoint Energy from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. BTIG Research assumed coverage on shares of CenterPoint Energy in a report on Tuesday, June 30th. They issued a “neutral” rating for the company. Evercore set a $45.00 price objective on shares of CenterPoint Energy in a report on Monday, May 4th. Finally, BMO Capital Markets upped their target price on shares of CenterPoint Energy from $47.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, CenterPoint Energy presently has an average rating of “Hold” and a consensus target price of $45.31.

CenterPoint Energy Stock Down 0.6%

CenterPoint Energy stock opened at $42.73 on Wednesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.04 and a current ratio of 1.16. The firm has a market capitalization of $27.95 billion, a price-to-earnings ratio of 26.21, a price-to-earnings-growth ratio of 2.55 and a beta of 0.46. CenterPoint Energy, Inc. has a fifty-two week low of $36.59 and a fifty-two week high of $45.22. The stock’s fifty day moving average is $43.03 and its two-hundred day moving average is $42.20.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Thursday, April 23rd. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.02). CenterPoint Energy had a return on equity of 10.56% and a net margin of 11.38%.The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period last year, the firm earned $0.53 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. Analysts predict that CenterPoint Energy, Inc. will post 1.91 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.24 per share. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, August 20th. This represents a $0.96 annualized dividend and a yield of 2.2%. CenterPoint Energy’s payout ratio is 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.