Arcus Capital Partners LLC Takes Position in CenterPoint Energy, Inc. $CNP

Key Points

• Arcus Capital Partners LLC acquired 19,174 shares of CenterPoint Energy valued at approximately $704,000 during the second quarter.
• CenterPoint Energy reported earnings per share of $0.29 for the last quarter, missing the consensus estimate of $0.44, while total revenue was $1.94 billion against an expected $2.20 billion.
• The company announced a quarterly dividend of $0.22 per share, with an annualized yield of 2.2%, set to be paid on December 11th.

Arcus Capital Partners LLC bought a new position in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 19,174 shares of the utilities provider's stock, valued at approximately $704,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of CenterPoint Energy in the 2nd quarter worth about $1,339,000. Signature Estate & Investment Advisors LLC increased its stake in shares of CenterPoint Energy by 3.9% in the second quarter. Signature Estate & Investment Advisors LLC now owns 7,627 shares of the utilities provider's stock valued at $280,000 after purchasing an additional 286 shares during the period. Spirit of America Management Corp NY raised its holdings in shares of CenterPoint Energy by 9.7% during the second quarter. Spirit of America Management Corp NY now owns 17,000 shares of the utilities provider's stock valued at $625,000 after buying an additional 1,500 shares during the last quarter. Chevy Chase Trust Holdings LLC boosted its position in shares of CenterPoint Energy by 0.9% during the second quarter. Chevy Chase Trust Holdings LLC now owns 350,484 shares of the utilities provider's stock worth $12,877,000 after buying an additional 2,972 shares during the period. Finally, Private Trust Co. NA grew its holdings in CenterPoint Energy by 99.0% in the 2nd quarter. Private Trust Co. NA now owns 3,290 shares of the utilities provider's stock worth $121,000 after buying an additional 1,637 shares in the last quarter. Institutional investors and hedge funds own 91.77% of the company's stock.

CenterPoint Energy Stock Down 0.1%

CenterPoint Energy stock opened at $39.65 on Friday. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.79 and a quick ratio of 0.61. CenterPoint Energy, Inc. has a fifty-two week low of $28.57 and a fifty-two week high of $40.50. The firm has a fifty day moving average price of $38.39 and a two-hundred day moving average price of $37.54. The firm has a market cap of $25.88 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 2.84 and a beta of 0.57.

CenterPoint Energy (NYSE:CNP - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The utilities provider reported $0.29 earnings per share 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 business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm posted $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. As a group, analysts forecast that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

CenterPoint Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 20th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, November 20th. CenterPoint Energy's payout ratio is currently 61.54%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of CenterPoint Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Barclays raised their target price on shares of CenterPoint Energy from $39.00 to $40.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 7th. Scotiabank raised 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. Morgan Stanley dropped their price target on shares of 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. Finally, Mizuho lifted their target price on shares of CenterPoint Energy from $39.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, September 30th. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, CenterPoint Energy presently has an average rating of "Hold" and an average target price of $40.45.

CenterPoint Energy 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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