Legal & General Group Plc Takes $250.27 Million Position in CenterPoint Energy, Inc. $CNP

Legal & General Group Plc bought a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,682,858 shares of the utilities provider’s stock, valued at approximately $250,273,000. Legal & General Group Plc owned about 0.86% of CenterPoint Energy at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CNP. Vanguard Group Inc. lifted its holdings in CenterPoint Energy by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 82,381,128 shares of the utilities provider’s stock valued at $3,158,492,000 after purchasing an additional 719,803 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of CenterPoint Energy by 13.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 58,286,690 shares of the utilities provider’s stock valued at $2,234,712,000 after purchasing an additional 6,794,535 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of CenterPoint Energy by 1.1% in the fourth quarter. Capital Research Global Investors now owns 20,941,909 shares of the utilities provider’s stock valued at $802,916,000 after purchasing an additional 235,346 shares during the last quarter. Deutsche Bank AG bought a new position in shares of CenterPoint Energy in the second quarter valued at about $770,871,000. Finally, Geode Capital Management LLC raised its position in shares of CenterPoint Energy by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 17,023,720 shares of the utilities provider’s stock valued at $650,189,000 after purchasing an additional 166,305 shares during the period. Institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Trading Up 1.8%

Shares of NYSE:CNP opened at $39.63 on Thursday. The company has a market capitalization of $26.11 billion, a P/E ratio of 23.31, a P/E/G ratio of 2.31 and a beta of 0.46. CenterPoint Energy, Inc. has a 1 year low of $36.60 and a 1 year high of $45.26. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.12 and a quick ratio of 0.97. The business’s 50 day simple moving average is $42.46 and its 200 day simple moving average is $42.61.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.12 billion. CenterPoint Energy had a return on equity of 11.10% and a net margin of 11.61%.During the same quarter last year, the company earned $0.29 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. On average, research analysts anticipate that CenterPoint Energy, Inc. will post 1.91 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be given a $0.24 dividend. The ex-dividend date is Thursday, August 20th. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.4%. CenterPoint Energy’s dividend payout ratio (DPR) is 56.47%.

Analysts Set New Price Targets

CNP has been the subject of several research analyst reports. Truist Financial reduced their target price on shares of CenterPoint Energy from $48.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. JPMorgan Chase & Co. increased their price target on shares of CenterPoint Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Wolfe Research restated an “outperform” rating and set a $49.00 price objective on shares of CenterPoint Energy in a research report on Wednesday, July 29th. Wall Street Zen upgraded CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Morgan Stanley decreased their target price on CenterPoint Energy from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Friday, August 21st. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, CenterPoint Energy currently has an average rating of “Moderate Buy” and a consensus target price of $45.36.

CenterPoint Energy Company 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.