Pictet Asset Management Holding SA Sells 888,908 Shares of CenterPoint Energy, Inc. $CNP

Pictet Asset Management Holding SA trimmed its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 11.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,910,848 shares of the utilities provider’s stock after selling 888,908 shares during the quarter. Pictet Asset Management Holding SA owned approximately 1.06% of CenterPoint Energy worth $298,272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in shares of CenterPoint Energy in the fourth quarter worth $254,000. AQR Capital Management LLC lifted its holdings in CenterPoint Energy by 15.6% during the 1st quarter. AQR Capital Management LLC now owns 76,100 shares of the utilities provider’s stock worth $2,757,000 after buying an additional 10,277 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of CenterPoint Energy by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,683 shares of the utilities provider’s stock valued at $2,525,000 after buying an additional 3,821 shares during the last quarter. Empowered Funds LLC increased its stake in shares of CenterPoint Energy by 11.5% in the first quarter. Empowered Funds LLC now owns 13,411 shares of the utilities provider’s stock valued at $486,000 after buying an additional 1,384 shares during the period. Finally, Woodline Partners LP increased its stake in shares of CenterPoint Energy by 40.7% in the first quarter. Woodline Partners LP now owns 55,061 shares of the utilities provider’s stock valued at $1,995,000 after buying an additional 15,922 shares during the period. 91.77% of the stock is currently owned by institutional investors.

CenterPoint Energy Trading Up 1.7%

CNP opened at $44.96 on Friday. CenterPoint Energy, Inc. has a 1-year low of $35.46 and a 1-year high of $45.08. The company has a market cap of $29.41 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 2.67 and a beta of 0.46. The company has a fifty day moving average price of $42.67 and a two-hundred day moving average price of $41.49. The company has a current ratio of 1.16, a quick ratio of 1.04 and a debt-to-equity ratio of 1.96.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Thursday, April 23rd. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $1.98 billion. CenterPoint Energy had a return on equity of 10.56% and a net margin of 11.38%.During the same quarter in the prior year, the business earned $0.53 earnings per share. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Thursday, May 21st were issued a $0.23 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. CenterPoint Energy’s dividend payout ratio is currently 56.44%.

Analyst Ratings Changes

Several brokerages recently commented on CNP. Weiss Ratings reiterated a “buy (b)” rating on shares of CenterPoint Energy in a report on Monday, June 15th. Jefferies Financial Group set a $50.00 price target on shares of CenterPoint Energy in a report on Thursday, June 18th. Evercore set a $45.00 price target on shares of CenterPoint Energy in a research report on Monday, May 4th. KeyCorp boosted their price target on shares of CenterPoint Energy from $41.00 to $47.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of CenterPoint Energy from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $44.69.

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.