CenterPoint Energy, Inc. $CNP Shares Sold by T. Rowe Price Investment Management Inc.

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. cut its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 1.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,093,869 shares of the utilities provider's stock after selling 551,565 shares during the quarter. CenterPoint Energy accounts for 1.1% of T. Rowe Price Investment Management Inc.'s holdings, making the stock its 10th largest position. T. Rowe Price Investment Management Inc. owned 7.06% of CenterPoint Energy worth $1,669,981,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CNP. Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of CenterPoint Energy by 4.5% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 14,011 shares of the utilities provider's stock valued at $508,000 after buying an additional 597 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of CenterPoint Energy by 9.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,849 shares of the utilities provider's stock valued at $1,009,000 after purchasing an additional 2,505 shares during the last quarter. Northern Trust Corp increased its holdings in shares of CenterPoint Energy by 0.9% during the first quarter. Northern Trust Corp now owns 5,934,611 shares of the utilities provider's stock worth $215,011,000 after buying an additional 54,596 shares in the last quarter. Brooklyn Investment Group raised its position in CenterPoint Energy by 68.3% in the first quarter. Brooklyn Investment Group now owns 3,934 shares of the utilities provider's stock valued at $143,000 after purchasing an additional 1,597 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in CenterPoint Energy during the 1st quarter worth approximately $554,000. 91.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CNP has been the subject of a number of recent research reports. BMO Capital Markets increased their price objective on CenterPoint Energy from $36.00 to $39.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. 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. JPMorgan Chase & Co. increased their price target on CenterPoint Energy from $39.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Evercore ISI lifted their price objective on CenterPoint Energy from $37.00 to $41.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Finally, Scotiabank increased their target price on shares of CenterPoint Energy from $40.00 to $42.00 and gave the company a "sector outperform" rating in a research report on Friday, July 25th. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $37.38.

CenterPoint Energy Trading Down 0.3%

Shares of CenterPoint Energy stock traded down $0.1050 on Monday, reaching $37.9450. 2,192,010 shares of the company's stock were exchanged, compared to its average volume of 5,242,377. The firm's 50-day moving average is $37.21 and its two-hundred day moving average is $36.48. The company has a market capitalization of $24.77 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 2.79 and a beta of 0.58. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.61 and a current ratio of 0.79. CenterPoint Energy, Inc. has a 52 week low of $26.32 and a 52 week high of $39.39.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its earnings results 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 the consensus estimate of $2.20 billion. During the same period in the prior year, the company earned $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. Sell-side analysts predict that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.

CenterPoint Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 21st. CenterPoint Energy's payout ratio is presently 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.