AdvisorNet Financial Inc Increases Stock Position in CenterPoint Energy, Inc. $CNP

Key Points

• AdvisorNet Financial Inc increased its stake in CenterPoint Energy by 257.2% in Q2, owning 39,134 shares worth approximately $1.44 million.
• CenterPoint Energy reported Q2 earnings of $0.29 per share, missing the consensus estimate of $0.44, and revealed a revenue of $1.94 billion against an expectation of $2.20 billion.
• Several analysts have set targeted prices for CenterPoint Energy's stock, with Mizuho rating it "neutral" at $39.00, while Scotiabank upgraded its target to $42.00 with a "sector outperform" rating.

AdvisorNet Financial Inc lifted its stake in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 257.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,134 shares of the utilities provider's stock after purchasing an additional 28,179 shares during the period. AdvisorNet Financial Inc's holdings in CenterPoint Energy were worth $1,438,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CNP. Curat Global LLC purchased a new stake in shares of CenterPoint Energy in the 1st quarter worth about $25,000. N.E.W. Advisory Services LLC purchased a new stake in shares of CenterPoint Energy in the 1st quarter worth about $25,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of CenterPoint Energy in the 1st quarter worth about $27,000. Harbor Investment Advisory LLC lifted its position in shares of CenterPoint Energy by 201.5% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,034 shares of the utilities provider's stock worth $37,000 after purchasing an additional 691 shares during the period. Finally, Motco lifted its position in shares of CenterPoint Energy by 107.8% in the 1st quarter. Motco now owns 1,039 shares of the utilities provider's stock worth $38,000 after purchasing an additional 539 shares during the period. 91.77% of the stock is owned by hedge funds and other institutional investors.

CenterPoint Energy Stock Performance

Shares of NYSE CNP opened at $38.22 on Tuesday. The firm has a 50 day moving average of $37.95 and a 200 day moving average of $37.09. The company has a current ratio of 0.79, a quick ratio of 0.61 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $24.95 billion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. CenterPoint Energy, Inc. has a 12-month low of $28.30 and a 12-month high of $39.39.

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

CenterPoint Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 21st were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, August 21st. CenterPoint Energy's payout ratio is 61.54%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CNP shares. Mizuho set a $39.00 target price on shares of CenterPoint Energy and gave the stock a "neutral" rating in a research report on Friday, July 25th. Morgan Stanley set a $38.00 price target on shares of CenterPoint Energy and gave the company an "outperform" rating in a research report on Thursday, August 21st. Scotiabank lifted their price target on shares of CenterPoint Energy from $40.00 to $42.00 and gave the company a "sector outperform" rating in a research report on Friday, July 25th. Wall Street Zen cut shares of CenterPoint Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Finally, Barclays lifted their price target on shares of CenterPoint Energy from $38.00 to $39.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, CenterPoint Energy has an average rating of "Hold" and an average target price of $38.50.

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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