CenterPoint Energy (NYSE:CNP) Hits New 52-Week High - Here's What Happened

Key Points

• CenterPoint Energy shares reached a new 52-week high of $40.50, closing at $39.10 with 6.5 million shares traded.
• Analysts have given mixed ratings, with five rating the stock as a Buy and eight as Hold, with a consensus price target of $38.41.
• The company reported a missed earnings expectation with $0.29 EPS for the latest quarter, compared to estimates of $0.44, while also announcing a quarterly dividend of $0.22 per share.

CenterPoint Energy, Inc. (NYSE:CNP - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $40.50 and last traded at $39.10, with a volume of 6526666 shares trading hands. The stock had previously closed at $38.81.

Analyst Ratings Changes

CNP has been the topic of a number of analyst reports. BMO Capital Markets upped their target price on CenterPoint Energy from $36.00 to $39.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Mizuho set a $39.00 target price on CenterPoint Energy and gave the company a "neutral" rating in a research note on Friday, July 25th. Wall Street Zen cut CenterPoint Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Barclays upped their target price on CenterPoint Energy from $38.00 to $39.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Scotiabank boosted their price target on CenterPoint Energy from $40.00 to $42.00 and gave the company a "sector outperform" rating in a report on Friday, July 25th. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $38.41.

CenterPoint Energy Stock Up 0.8%

The company has a debt-to-equity ratio of 1.87, a current ratio of 0.79 and a quick ratio of 0.61. The stock has a market cap of $25.53 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 2.84 and a beta of 0.58. The business has a fifty day moving average of $38.16 and a 200-day moving average of $37.24.

CenterPoint Energy (NYSE:CNP - Get Free Report) last posted its earnings results on Thursday, July 24th. The utilities provider reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.15). The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $2.20 billion. CenterPoint Energy had a return on equity of 9.16% and a net margin of 10.42%.During the same quarter in the prior year, the company earned $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. Equities research analysts anticipate that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

CenterPoint Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, November 20th. This represents a $0.88 dividend on an annualized basis and a yield of 2.3%. CenterPoint Energy's dividend payout ratio is currently 61.54%.

Institutional Trading of CenterPoint Energy

A number of hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LLC lifted its holdings in CenterPoint Energy by 2.2% during the second quarter. Corient Private Wealth LLC now owns 55,996 shares of the utilities provider's stock worth $2,057,000 after buying an additional 1,222 shares during the period. Osaic Holdings Inc. lifted its holdings in CenterPoint Energy by 20.3% during the second quarter. Osaic Holdings Inc. now owns 82,534 shares of the utilities provider's stock worth $3,032,000 after buying an additional 13,908 shares during the period. Centaurus Financial Inc. purchased a new stake in shares of CenterPoint Energy during the 2nd quarter valued at $147,000. Orion Porfolio Solutions LLC lifted its holdings in shares of CenterPoint Energy by 6.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 14,373 shares of the utilities provider's stock valued at $528,000 after purchasing an additional 897 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of CenterPoint Energy during the 2nd quarter valued at $712,000. Hedge funds and other institutional investors own 91.77% of the company's stock.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.

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