Advisors Asset Management Inc. Purchases 13,166 Shares of CenterPoint Energy, Inc. $CNP

Key Points

• Advisors Asset Management Inc. increased its stake in CenterPoint Energy by 33.7% in the first quarter, raising its holdings to 52,223 shares valued at approximately $1.89 million.
• CenterPoint Energy's quarterly earnings reported $0.29 per share, missing estimates of $0.44, with revenue of $1.94 billion against expectations of $2.20 billion.
• The company declared a quarterly dividend of $0.22 per share, which will contribute to an annualized yield of 2.3%, set to be paid on September 11th.

Advisors Asset Management Inc. lifted its stake in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 33.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,223 shares of the utilities provider's stock after purchasing an additional 13,166 shares during the period. Advisors Asset Management Inc.'s holdings in CenterPoint Energy were worth $1,892,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNP. Nuveen LLC purchased a new stake in CenterPoint Energy in the 1st quarter worth $92,025,000. GQG Partners LLC purchased a new stake in CenterPoint Energy in the 1st quarter worth $78,632,000. American Century Companies Inc. increased its stake in 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 worth $185,434,000 after buying an additional 1,709,682 shares in the last quarter. Reaves W H & Co. Inc. increased its stake in CenterPoint Energy by 58.4% in the 1st quarter. Reaves W H & Co. Inc. now owns 4,385,632 shares of the utilities provider's stock worth $158,891,000 after buying an additional 1,616,181 shares in the last quarter. Finally, Artemis Investment Management LLP purchased a new stake in CenterPoint Energy in the 1st quarter worth $46,790,000. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Mizuho set a $39.00 price target on CenterPoint Energy and gave the stock a "neutral" rating in a research note on Friday, July 25th. Scotiabank increased their price target on CenterPoint Energy from $40.00 to $42.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 25th. Morgan Stanley set a $38.00 price target on CenterPoint Energy and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Barclays increased their price objective on shares of CenterPoint Energy from $38.00 to $39.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of CenterPoint Energy from $39.00 to $40.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $38.50.

CenterPoint Energy Trading Up 0.3%

CNP traded up $0.12 on Friday, hitting $38.36. The company had a trading volume of 1,036,220 shares, compared to its average volume of 5,194,933. The company has a market cap of $25.05 billion, a PE ratio of 26.84, a PEG ratio of 2.77 and a beta of 0.58. CenterPoint Energy, Inc. has a 12-month low of $26.32 and a 12-month 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 business's fifty day simple moving average is $37.66 and its 200 day simple moving average is $36.86.

CenterPoint Energy (NYSE:CNP - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The utilities provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.15). The company had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $2.20 billion. CenterPoint Energy had a return on equity of 9.16% and a net margin of 10.42%.During the same quarter in the prior year, the business posted $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. Equities research analysts expect that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

CenterPoint Energy Dividend Announcement

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

CenterPoint Energy Company 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.