3,721,454 Shares in CenterPoint Energy, Inc. $CNP Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp acquired a new stake in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,721,454 shares of the utilities provider's stock, valued at approximately $163,893,000. Bank of New York Mellon Corp owned approximately 0.56% of CenterPoint Energy as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of CenterPoint Energy by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 82,381,128 shares of the utilities provider's stock worth $3,158,492,000 after purchasing an additional 719,803 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of CenterPoint Energy by 13.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 58,286,690 shares of the utilities provider's stock valued at $2,234,712,000 after purchasing an additional 6,794,535 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of CenterPoint Energy by 1.1% in the 4th quarter. Capital Research Global Investors now owns 20,941,909 shares of the utilities provider's stock valued at $802,916,000 after purchasing an additional 235,346 shares during the last quarter. Geode Capital Management LLC boosted its holdings in CenterPoint Energy by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 17,023,720 shares of the utilities provider's stock worth $650,189,000 after purchasing an additional 166,305 shares in the last quarter. Finally, Norges Bank bought a new stake in CenterPoint Energy in the fourth quarter worth $343,925,000. 91.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CNP has been the topic of several recent research reports. Wolfe Research restated an "outperform" rating and set a $49.00 target price on shares of CenterPoint Energy in a report on Wednesday, July 29th. JPMorgan Chase & Co. increased their price objective on CenterPoint Energy from $45.00 to $47.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Morgan Stanley cut their price objective on CenterPoint Energy from $40.00 to $39.00 and set an "equal weight" rating on the stock in a research note on Friday. Evercore set a $43.00 target price on CenterPoint Energy in a research report on Monday, August 17th. Finally, Truist Financial lowered their price target on CenterPoint Energy from $48.00 to $46.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.36.

CenterPoint Energy Price Performance

NYSE CNP opened at $38.81 on Monday. The stock has a 50-day simple moving average of $42.69 and a 200 day simple moving average of $42.63. CenterPoint Energy, Inc. has a twelve month low of $36.60 and a twelve month high of $45.26. The stock has a market capitalization of $25.56 billion, a PE ratio of 22.83, a P/E/G ratio of 2.30 and a beta of 0.46. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.97 and a current ratio of 1.12.

CenterPoint Energy (NYSE:CNP - Get Free Report) last released its earnings results on Tuesday, July 28th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.03. CenterPoint Energy had a return on equity of 11.10% and a net margin of 11.61%.The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter last year, the firm posted $0.29 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. Research analysts anticipate that CenterPoint Energy, Inc. will post 1.91 EPS for the current year.

CenterPoint Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be given a $0.24 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.96 annualized dividend and a yield of 2.5%. This is a positive change from CenterPoint Energy's previous quarterly dividend of $0.23. CenterPoint Energy's dividend payout ratio (DPR) is 56.47%.

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.

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