Exchange Traded Concepts LLC Has $5.10 Million Stock Holdings in CenterPoint Energy, Inc. $CNP

Key Points

• Exchange Traded Concepts LLC significantly increased its stake in CenterPoint Energy by 1,147.9% during Q2, acquiring an additional 127,578 shares to reach a total of 138,692 shares valued at approximately $5.1 million.
• CenterPoint Energy reported a quarterly EPS of $0.29, missing analyst estimates by $0.15, with a net revenue of $1.94 billion against expectations of $2.20 billion, while setting a FY 2025 guidance at 1.740-1.760 EPS.
• Recent analyses have raised the target price for CenterPoint Energy stock, with Scotiabank increasing it from $40.00 to $42.00, reflecting a generally positive outlook among several research firms.

Exchange Traded Concepts LLC increased its holdings in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 1,147.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 138,692 shares of the utilities provider's stock after buying an additional 127,578 shares during the period. Exchange Traded Concepts LLC's holdings in CenterPoint Energy were worth $5,096,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new position in CenterPoint Energy during the 1st quarter valued at approximately $92,025,000. GQG Partners LLC acquired a new stake in shares of CenterPoint Energy in the first quarter valued at $78,632,000. Millennium Management LLC increased its holdings in shares of CenterPoint Energy by 2,845.6% in the first quarter. Millennium Management LLC now owns 1,938,231 shares of the utilities provider's stock valued at $70,222,000 after buying an additional 1,872,429 shares in the last quarter. American Century Companies Inc. lifted its position in shares of CenterPoint Energy by 50.2% in the 1st quarter. American Century Companies Inc. now owns 5,118,233 shares of the utilities provider's stock valued at $185,434,000 after acquiring an additional 1,709,682 shares in the last quarter. Finally, Reaves W H & Co. Inc. grew its holdings in shares of CenterPoint Energy by 58.4% during the first quarter. Reaves W H & Co. Inc. now owns 4,385,632 shares of the utilities provider's stock valued at $158,891,000 after buying an additional 1,616,181 shares in the last quarter. Institutional investors own 91.77% of the company's stock.

CenterPoint Energy Stock Up 0.8%

Shares of CNP traded up $0.30 on Monday, hitting $38.32. The company's stock had a trading volume of 2,007,206 shares, compared to its average volume of 5,184,870. The firm's fifty day moving average price is $37.91 and its 200-day moving average price is $37.07. CenterPoint Energy, Inc. has a fifty-two week low of $28.30 and a fifty-two week high of $39.39. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $25.02 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 2.78 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 analysts' consensus estimates of $0.44 by ($0.15). The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $2.20 billion. CenterPoint Energy had a net margin of 10.42% and a return on equity of 9.16%. During the same period in the previous year, the firm posted $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. On average, equities research analysts expect that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

CenterPoint Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.88 annualized dividend and a dividend yield of 2.3%. CenterPoint Energy's dividend payout ratio (DPR) is currently 61.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CNP shares. Mizuho set a $39.00 price target on CenterPoint Energy and gave the company a "neutral" rating in a research note on Friday, July 25th. Wall Street Zen lowered shares of CenterPoint Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. lifted their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Barclays raised their price target on shares of CenterPoint Energy from $38.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Finally, BMO Capital Markets raised their target price on CenterPoint Energy from $36.00 to $39.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, CenterPoint Energy currently has an average rating of "Hold" and an average target price of $38.50.

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.