Bank of Nova Scotia Buys Shares of 224,122 CenterPoint Energy, Inc. $CNP

Bank of Nova Scotia bought a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 224,122 shares of the utilities provider's stock, valued at approximately $9,870,000.

Other institutional investors also recently modified their holdings of the company. Deutsche Bank AG acquired a new position in CenterPoint Energy in the 2nd quarter worth about $770,871,000. Norges Bank acquired a new position in shares of CenterPoint Energy in the fourth quarter valued at approximately $343,925,000. T. Rowe Price Investment Management Inc. raised its holdings in CenterPoint Energy by 13.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 58,286,690 shares of the utilities provider's stock valued at $2,234,712,000 after buying an additional 6,794,535 shares during the last quarter. GQG Partners LLC bought a new position in CenterPoint Energy in the 2nd quarter valued at approximately $176,574,000. Finally, Bank of New York Mellon Corp acquired a new stake in CenterPoint Energy during the 2nd quarter worth approximately $163,893,000. 91.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Jefferies Financial Group set a $50.00 price target on shares of CenterPoint Energy in a research report on Thursday, June 18th. KeyCorp reduced their price objective on shares of CenterPoint Energy from $47.00 to $46.00 and set an "overweight" rating on the stock in a research note on Thursday, July 23rd. Truist Financial lowered their target price on CenterPoint Energy from $48.00 to $46.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. Morgan Stanley cut their target price on CenterPoint Energy from $40.00 to $39.00 and set an "equal weight" rating on the stock in a report on Friday. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of CenterPoint Energy in a research report on Monday, June 15th. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $45.36.

CenterPoint Energy Price Performance

CNP stock opened at $39.09 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 1.95. The firm has a market cap of $25.75 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 2.30 and a beta of 0.46. The company's fifty day simple moving average is $42.61 and its 200 day simple moving average is $42.62. CenterPoint Energy, Inc. has a 12-month low of $36.60 and a 12-month high of $45.26.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.03. The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.12 billion. CenterPoint Energy had a return on equity of 11.10% and a net margin of 11.61%.During the same period last year, the business posted $0.29 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. On average, analysts expect that CenterPoint Energy, Inc. will post 1.91 earnings per share for the current year.

CenterPoint Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be issued a $0.24 dividend. The ex-dividend date is Thursday, August 20th. This is an increase from CenterPoint Energy's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 2.5%. CenterPoint Energy's dividend payout ratio is presently 56.47%.

CenterPoint Energy Profile

CenterPoint Energy, Inc NYSE: CNP is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company's principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint's core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.

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