CenterPoint Energy, Inc. $CNP Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. sold 77,974 shares of CenterPoint Energy, Inc., reducing its holdings by 10.3%, and now owns approximately 680,562 shares valued at $24.65 million.
• CenterPoint Energy reported $0.29 earnings per share, missing analysts' consensus estimate of $0.44, alongside a revenue of $1.94 billion against an expected $2.20 billion.
• The company declared a quarterly dividend of $0.22 per share, with a yield of 2.3%, set to be paid on September 11th.

Alliancebernstein L.P. decreased its position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 680,562 shares of the utilities provider's stock after selling 77,974 shares during the quarter. Alliancebernstein L.P. owned approximately 0.10% of CenterPoint Energy worth $24,657,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its stake in CenterPoint Energy by 8.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 80,229 shares of the utilities provider's stock worth $2,907,000 after buying an additional 6,377 shares during the last quarter. QRG Capital Management Inc. grew its stake in CenterPoint Energy by 8.8% during the 1st quarter. QRG Capital Management Inc. now owns 19,913 shares of the utilities provider's stock worth $721,000 after buying an additional 1,615 shares during the last quarter. Principal Financial Group Inc. grew its stake in CenterPoint Energy by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 864,175 shares of the utilities provider's stock worth $31,309,000 after buying an additional 26,153 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in CenterPoint Energy by 5.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 166,743 shares of the utilities provider's stock worth $6,041,000 after buying an additional 8,914 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its stake in CenterPoint Energy by 472.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,220 shares of the utilities provider's stock worth $44,000 after buying an additional 1,007 shares during the last quarter. Hedge funds and other institutional investors own 91.77% of the company's stock.

CenterPoint Energy Price Performance

Shares of CenterPoint Energy stock traded up $0.04 during trading on Friday, hitting $38.28. 4,280,833 shares of the company were exchanged, compared to its average volume of 4,350,758. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 1.87. CenterPoint Energy, Inc. has a fifty-two week low of $26.32 and a fifty-two week high of $39.39. The stock has a market capitalization of $24.99 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 2.80 and a beta of 0.58. The firm has a 50 day moving average price of $37.71 and a 200 day moving average price of $36.88.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the firm earned $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. On average, equities analysts expect that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

CenterPoint Energy Announces Dividend

The business also recently disclosed 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 dividend yield of 2.3%. The ex-dividend date was Thursday, August 21st. CenterPoint Energy's payout ratio is currently 61.54%.

Wall Street Analyst Weigh In

CNP has been the topic of a number of research reports. Scotiabank raised their price target on CenterPoint Energy from $40.00 to $42.00 and gave the stock a "sector outperform" rating in a report on Friday, July 25th. BMO Capital Markets boosted their target price on CenterPoint Energy from $36.00 to $39.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Wall Street Zen cut CenterPoint Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Barclays increased their price target on CenterPoint Energy from $38.00 to $39.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. increased their price target on CenterPoint Energy from $39.00 to $40.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus 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.