Stephens Inc. AR boosted its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP – Get Rating) by 23.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,353 shares of the utilities provider’s stock after buying an additional 1,749 shares during the period. Stephens Inc. AR’s holdings in CenterPoint Energy were worth $287,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNP. BlackRock Inc. boosted its stake in CenterPoint Energy by 12.0% during the fourth quarter. BlackRock Inc. now owns 62,536,247 shares of the utilities provider’s stock worth $1,745,384,000 after buying an additional 6,679,825 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in CenterPoint Energy by 32.6% during the fourth quarter. JPMorgan Chase & Co. now owns 20,235,985 shares of the utilities provider’s stock worth $564,785,000 after buying an additional 4,973,550 shares during the last quarter. abrdn plc boosted its stake in CenterPoint Energy by 1,196.3% during the fourth quarter. abrdn plc now owns 4,655,257 shares of the utilities provider’s stock worth $129,928,000 after buying an additional 4,296,140 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of CenterPoint Energy by 44.1% in the 4th quarter. Deutsche Bank AG now owns 10,384,446 shares of the utilities provider’s stock valued at $289,831,000 after purchasing an additional 3,175,721 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of CenterPoint Energy by 29.3% in the 4th quarter. Jennison Associates LLC now owns 8,058,577 shares of the utilities provider’s stock valued at $224,915,000 after purchasing an additional 1,825,490 shares during the last quarter. Institutional investors and hedge funds own 90.98% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the company. Barclays decreased their price target on CenterPoint Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Monday, July 18th. StockNews.com raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, May 10th. KeyCorp decreased their price target on CenterPoint Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 19th. Morgan Stanley increased their target price on CenterPoint Energy from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, July 21st. Finally, Credit Suisse Group initiated coverage on CenterPoint Energy in a research note on Monday, April 25th. They set an “outperform” rating and a $34.00 target price on the stock. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.25.
CenterPoint Energy Price Performance
CenterPoint Energy (NYSE:CNP – Get Rating) last released its quarterly earnings data 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 return on equity of 10.92% and a net margin of 18.16%. During the same period in the prior year, the company posted $0.36 EPS. Analysts forecast that CenterPoint Energy, Inc. will post 1.38 EPS for the current fiscal year.
CenterPoint Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 18th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, August 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.29%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.17. CenterPoint Energy’s dividend payout ratio is presently 27.98%.
CenterPoint Energy Profile
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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