Assenagon Asset Management S.A. Has $1.08 Million Stock Holdings in CenterPoint Energy, Inc. $CNP

Key Points

• Assenagon Asset Management S.A. has reduced its holdings in CenterPoint Energy, Inc. by 42.8%, resulting in ownership of 29,302 shares valued at approximately $1.08 million as of the latest SEC filing.
• CenterPoint Energy reported earnings of $0.29 per share, missing analyst expectations of $0.44, along with revenue of $1.94 billion, which was below the anticipated $2.20 billion.
• The company recently announced a quarterly dividend of $0.22 per share with a yield of 2.3%, set to be paid on December 11th to shareholders of record as of November 20th.

Assenagon Asset Management S.A. lowered its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 42.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,302 shares of the utilities provider's stock after selling 21,965 shares during the period. Assenagon Asset Management S.A.'s holdings in CenterPoint Energy were worth $1,077,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNP. Brighton Jones LLC bought a new position in shares of CenterPoint Energy in the fourth quarter valued at about $254,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in CenterPoint Energy in the 4th quarter valued at approximately $10,453,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of CenterPoint Energy by 20.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,816 shares of the utilities provider's stock worth $1,136,000 after purchasing an additional 6,084 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in shares of CenterPoint Energy by 66.3% during the 1st quarter. AdvisorNet Financial Inc now owns 10,955 shares of the utilities provider's stock worth $397,000 after acquiring an additional 4,366 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in CenterPoint Energy by 4,585.0% in the 1st quarter. GAMMA Investing LLC now owns 536,856 shares of the utilities provider's stock valued at $19,450,000 after buying an additional 525,397 shares in the last quarter. 91.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Morgan Stanley dropped their target price on CenterPoint Energy from $38.00 to $37.00 and set an "equal weight" rating for the company in a research report on Thursday. Mizuho set a $39.00 price target on CenterPoint Energy and gave the company a "neutral" rating in a research report on Friday, July 25th. Wall Street Zen lowered CenterPoint Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. BMO Capital Markets increased 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. Finally, Scotiabank increased their price objective on CenterPoint Energy from $40.00 to $42.00 and gave the stock a "sector outperform" rating in a report on Friday, July 25th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, CenterPoint Energy has an average rating of "Hold" and a consensus price target of $38.41.

CenterPoint Energy Stock Performance

Shares of CNP opened at $38.84 on Friday. 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 stock has a fifty day moving average price of $38.12 and a 200-day moving average price of $37.19. CenterPoint Energy, Inc. has a 12 month low of $28.57 and a 12 month high of $39.39. The firm has a market cap of $25.35 billion, a PE ratio of 27.16, a P/E/G ratio of 2.84 and a beta of 0.58.

CenterPoint Energy (NYSE:CNP - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $2.20 billion. CenterPoint Energy had a return on equity of 9.16% and a net margin of 10.42%.During the same period in the prior year, the business posted $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. Equities research analysts predict that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

CenterPoint Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders 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 dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, November 20th. 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.

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