Posted by admin on Aug 22nd, 2022 
Northwestern Mutual Wealth Management Co. lowered its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP – Get Rating) by 6.1% in the first quarter, Holdings Channel reports. The firm owned 14,088 shares of the utilities provider’s stock after selling 921 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in CenterPoint Energy were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. Independent Advisor Alliance boosted its position in shares of CenterPoint Energy by 3.2% in the first quarter. Independent Advisor Alliance now owns 10,767 shares of the utilities provider’s stock valued at $330,000 after acquiring an additional 337 shares during the period. New Mexico Educational Retirement Board boosted its holdings in CenterPoint Energy by 1.1% in the 1st quarter. New Mexico Educational Retirement Board now owns 36,597 shares of the utilities provider’s stock valued at $1,121,000 after purchasing an additional 400 shares during the period. Panagora Asset Management Inc. grew its position in CenterPoint Energy by 0.3% in the 4th quarter. Panagora Asset Management Inc. now owns 126,558 shares of the utilities provider’s stock worth $3,532,000 after purchasing an additional 413 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in CenterPoint Energy by 1.2% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,327 shares of the utilities provider’s stock worth $1,174,000 after purchasing an additional 462 shares during the last quarter. Finally, IndexIQ Advisors LLC grew its position in CenterPoint Energy by 4.8% in the 1st quarter. IndexIQ Advisors LLC now owns 10,381 shares of the utilities provider’s stock worth $318,000 after purchasing an additional 472 shares during the last quarter. Institutional investors own 90.98% of the company’s stock.
Several analysts have issued reports on CNP shares. Morgan Stanley raised their price target on shares of CenterPoint Energy from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, July 21st. Barclays decreased their price target on shares of CenterPoint Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Monday, July 18th. KeyCorp decreased their price target on shares of CenterPoint Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 19th. Credit Suisse Group started coverage on shares of CenterPoint Energy in a research report on Monday, April 25th. They issued an “outperform” rating and a $34.00 price target on the stock. Finally, Evercore ISI lifted their target price on shares of CenterPoint Energy to $33.00 in a research report on Tuesday, August 9th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.83.
NYSE:CNP opened at $32.65 on Monday. The firm has a market cap of $20.55 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 6.06 and a beta of 0.87. CenterPoint Energy, Inc. has a 12 month low of $24.33 and a 12 month high of $33.00. The company has a quick ratio of 0.88, a current ratio of 1.03 and a debt-to-equity ratio of 1.43. The company’s 50-day moving average price is $30.09 and its two-hundred day moving average price is $30.07.
CenterPoint Energy (NYSE:CNP – Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The utilities provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. CenterPoint Energy had a net margin of 18.16% and a return on equity of 10.92%. During the same period last year, the firm earned $0.36 EPS. On average, equities analysts anticipate that CenterPoint Energy, Inc. will post 1.38 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.21%. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, August 17th. CenterPoint Energy’s dividend payout ratio is presently 29.63%.
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CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as assets in the wholesale power market.
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