T. Rowe Price Investment Management Inc. Has $1.67 Billion Position in CenterPoint Energy, Inc. $CNP

Key Points

• T. Rowe Price Investment Management Inc. reduced its holdings in CenterPoint Energy by 1.2%, maintaining ownership of approximately 46 million shares worth $1.67 billion, making it the firm's 10th largest investment.
• CenterPoint Energy reported a loss in earnings per share of $0.29 for the last quarter, missing expectations by $0.15, while its revenue was $1.94 billion compared to analysts' estimates of $2.20 billion.
• The company has declared a quarterly dividend of $0.22, which will be paid on September 11th, representing an annualized dividend yield of 2.3%.

T. Rowe Price Investment Management Inc. trimmed its holdings in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,093,869 shares of the utilities provider's stock after selling 551,565 shares during the period. CenterPoint Energy makes up 1.1% of T. Rowe Price Investment Management Inc.'s investment portfolio, making the stock its 10th biggest holding. T. Rowe Price Investment Management Inc. owned approximately 7.06% of CenterPoint Energy worth $1,669,981,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC grew its stake in CenterPoint Energy by 8.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 80,229 shares of the utilities provider's stock valued at $2,907,000 after buying an additional 6,377 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of CenterPoint Energy by 8.8% during the 1st quarter. QRG Capital Management Inc. now owns 19,913 shares of the utilities provider's stock valued at $721,000 after purchasing an additional 1,615 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of CenterPoint Energy by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 864,175 shares of the utilities provider's stock valued at $31,309,000 after purchasing an additional 26,153 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of CenterPoint Energy by 32.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,314,131 shares of the utilities provider's stock valued at $73,427,000 after purchasing an additional 569,389 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of CenterPoint Energy by 5.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 166,743 shares of the utilities provider's stock valued at $6,041,000 after purchasing an additional 8,914 shares in the last quarter. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Evercore ISI boosted their price target on shares of CenterPoint Energy from $37.00 to $41.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Mizuho set a $39.00 price target on shares of CenterPoint Energy and gave the company a "neutral" rating in a research report on Friday, July 25th. Morgan Stanley reduced their price target on shares of CenterPoint Energy from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Thursday, May 22nd. Barclays lifted their price objective on shares of CenterPoint Energy from $38.00 to $39.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Finally, Wall Street Zen downgraded shares of CenterPoint Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, CenterPoint Energy has an average rating of "Hold" and an average price target of $37.38.

CenterPoint Energy Trading Up 0.1%

CenterPoint Energy stock traded up $0.0340 during mid-day trading on Friday, hitting $38.0340. The company's stock had a trading volume of 5,607,602 shares, compared to its average volume of 5,139,331. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.79 and a quick ratio of 0.61. The stock has a market cap of $24.83 billion, a price-to-earnings ratio of 26.60, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. The business has a 50 day moving average price of $37.21 and a 200-day moving average price of $36.42. CenterPoint Energy, Inc. has a 12 month low of $26.32 and a 12 month high of $39.39.

CenterPoint Energy (NYSE:CNP - Get Free Report) last posted 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 business had revenue of $1.94 billion during the quarter, compared to the consensus estimate 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 firm earned $0.36 earnings per share. 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 EPS for the current year.

CenterPoint Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st 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, August 21st. CenterPoint Energy's dividend payout ratio is 61.54%.

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.