35,596 Shares in CenterPoint Energy, Inc. $CNP Purchased by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management LLC acquired 35,596 shares of CenterPoint Energy, valued at approximately $1.3 million, in Q2.
• CenterPoint Energy reported earnings misses with an EPS of $0.29, falling short of the expected $0.44, alongside revenue of $1.94 billion against a $2.20 billion estimate.
• The company recently announced a quarterly dividend of $0.22 per share, reflecting a 2.2% yield, with a payout ratio of 61.54%.

Axxcess Wealth Management LLC acquired a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 35,596 shares of the utilities provider's stock, valued at approximately $1,308,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNP. Vanguard Group Inc. boosted its stake in CenterPoint Energy by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 80,061,059 shares of the utilities provider's stock worth $2,900,612,000 after buying an additional 671,868 shares during the last quarter. Northern Trust Corp boosted its stake in CenterPoint Energy by 0.9% in the 1st quarter. Northern Trust Corp now owns 5,934,611 shares of the utilities provider's stock worth $215,011,000 after buying an additional 54,596 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in CenterPoint Energy by 0.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,408,135 shares of the utilities provider's stock worth $195,938,000 after buying an additional 42,536 shares during the last quarter. American Century Companies Inc. boosted its stake in CenterPoint Energy by 50.2% in the 1st quarter. American Century Companies Inc. now owns 5,118,233 shares of the utilities provider's stock worth $185,434,000 after buying an additional 1,709,682 shares during the last quarter. Finally, Reaves W H & Co. Inc. boosted its stake in CenterPoint Energy by 58.4% in the 1st quarter. Reaves W H & Co. Inc. now owns 4,385,632 shares of the utilities provider's stock worth $158,891,000 after buying an additional 1,616,181 shares during the last quarter. Hedge funds and other institutional investors own 91.77% of the company's stock.

CenterPoint Energy Stock Performance

CenterPoint Energy stock opened at $39.71 on Friday. The stock's 50 day moving average price is $38.37 and its 200 day moving average price is $37.52. The firm has a market capitalization of $25.93 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 2.86 and a beta of 0.57. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.61 and a current ratio of 0.79. CenterPoint Energy, Inc. has a one year low of $28.57 and a one year high of $40.50.

CenterPoint Energy (NYSE:CNP - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The utilities provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.15). The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $2.20 billion. CenterPoint Energy had a return on equity of 9.16% and a net margin of 10.42%.During the same period last year, the firm posted $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. As a group, sell-side analysts expect that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.

CenterPoint Energy Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 2.2%. CenterPoint Energy's payout ratio is currently 61.54%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CNP. Barclays raised their price target on CenterPoint Energy from $39.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 7th. BMO Capital Markets raised their price target on CenterPoint Energy from $39.00 to $41.00 and gave the stock a "market perform" rating in a research note on Thursday, October 2nd. Morgan Stanley decreased their price target on CenterPoint Energy from $38.00 to $37.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 25th. Scotiabank lifted their price objective on CenterPoint Energy from $40.00 to $42.00 and gave the company a "sector outperform" rating in a research note on Friday, July 25th. Finally, Wall Street Zen lowered CenterPoint Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $40.45.

About CenterPoint Energy

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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