Adage Capital Partners GP L.L.C. Sells 789,100 Shares of CenterPoint Energy, Inc. $CNP

Key Points

• Adage Capital Partners GP L.L.C. has reduced its stake in CenterPoint Energy by 33.5%, now holding approximately 1,569,838 shares valued at $56.9 million following the sale of 789,100 shares.
• CenterPoint Energy reported a miss in earnings with $0.29 EPS compared to the expected $0.44, and the company faced a revenue drop to $1.94 billion from the projected $2.20 billion.
• The company has announced a quarterly dividend of $0.22, translating to an annualized dividend of $0.88, representing a yield of 2.3% with a dividend payout ratio of 61.54%.

Adage Capital Partners GP L.L.C. decreased its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 33.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,569,838 shares of the utilities provider's stock after selling 789,100 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.24% of CenterPoint Energy worth $56,875,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Trust Co. NA boosted its stake in shares of CenterPoint Energy by 21.5% during the 1st quarter. Private Trust Co. NA now owns 1,653 shares of the utilities provider's stock worth $60,000 after acquiring an additional 293 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of CenterPoint Energy by 17.8% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,014 shares of the utilities provider's stock worth $73,000 after acquiring an additional 304 shares in the last quarter. Fulton Bank N.A. boosted its stake in shares of CenterPoint Energy by 2.7% during the 1st quarter. Fulton Bank N.A. now owns 13,718 shares of the utilities provider's stock worth $497,000 after acquiring an additional 362 shares in the last quarter. Colonial Trust Co SC boosted its stake in shares of CenterPoint Energy by 9.2% during the 4th quarter. Colonial Trust Co SC now owns 4,601 shares of the utilities provider's stock worth $146,000 after acquiring an additional 388 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft boosted its stake in shares of CenterPoint Energy by 5.5% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 7,582 shares of the utilities provider's stock worth $272,000 after acquiring an additional 392 shares in the last quarter. Hedge funds and other institutional investors own 91.77% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CNP shares. JPMorgan Chase & Co. boosted their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Morgan Stanley set a $38.00 price objective on CenterPoint Energy and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Scotiabank boosted their price objective on CenterPoint Energy from $40.00 to $42.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 25th. Barclays boosted their price objective on CenterPoint Energy from $38.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Finally, Mizuho set a $39.00 price objective on CenterPoint Energy and gave the stock a "neutral" rating in a research report on Friday, July 25th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, CenterPoint Energy currently has a consensus rating of "Hold" and a consensus price target of $37.71.

CenterPoint Energy Price Performance

Shares of CNP traded up $0.32 during mid-day trading on Friday, reaching $37.78. The company had a trading volume of 5,087,073 shares, compared to its average volume of 4,235,525. CenterPoint Energy, Inc. has a twelve month low of $26.32 and a twelve month high of $39.39. 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 company's 50-day moving average is $37.54 and its 200-day moving average is $36.77. The company has a market capitalization of $24.66 billion, a P/E ratio of 26.42, a P/E/G ratio of 2.77 and a beta of 0.58.

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

CenterPoint Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. CenterPoint Energy's dividend payout ratio is presently 61.54%.

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.