Raymond James Financial Inc. Has $138.63 Million Holdings in CenterPoint Energy, Inc. $CNP

Key Points

• Raymond James Financial Inc. increased its stake in CenterPoint Energy by 24.7%, acquiring an additional 758,354 shares, which brought their total ownership to approximately 0.59% of the company, valued at $138.6 million.
• CenterPoint Energy's stock experienced a 1.0% decrease recently, trading at $38.05, while the company reported a missed earnings estimate for the last quarter, posting $0.29 EPS against an expected $0.44.
• The company declared a quarterly dividend of $0.22 per share, which translates to an annualized yield of 2.3%, with a payout ratio of 61.54%.

Raymond James Financial Inc. grew its holdings in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 24.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,826,351 shares of the utilities provider's stock after acquiring an additional 758,354 shares during the period. Raymond James Financial Inc. owned about 0.59% of CenterPoint Energy worth $138,629,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNP. Curat Global LLC acquired a new stake in shares of CenterPoint Energy during the first quarter worth about $25,000. N.E.W. Advisory Services LLC purchased a new position in CenterPoint Energy in the first quarter valued at about $25,000. Smallwood Wealth Investment Management LLC purchased a new position in CenterPoint Energy in the first quarter valued at about $27,000. CoreCap Advisors LLC grew its position in shares of CenterPoint Energy by 58.9% in the fourth quarter. CoreCap Advisors LLC now owns 1,079 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 400 shares during the last quarter. Finally, Harbor Investment Advisory LLC grew its position in shares of CenterPoint Energy by 201.5% in the first quarter. Harbor Investment Advisory LLC now owns 1,034 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 691 shares during the last quarter. Institutional investors and hedge funds own 91.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley reduced their target price on shares of CenterPoint Energy from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Thursday, May 22nd. JPMorgan Chase & Co. lifted their price target on shares of CenterPoint Energy from $39.00 to $40.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Evercore ISI boosted their target price on shares of CenterPoint Energy from $37.00 to $41.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Barclays increased 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 report on Tuesday, July 29th. Finally, Scotiabank lifted 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. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, CenterPoint Energy has an average rating of "Hold" and an average price target of $37.38.

CenterPoint Energy Trading Up 0.1%

Shares of CNP stock traded up $0.0340 during trading hours on Friday, reaching $38.0340. 5,591,006 shares of the stock traded hands, compared to its average volume of 5,254,176. The firm has a market capitalization of $24.83 billion, a PE ratio of 26.60, a PEG ratio of 2.82 and a beta of 0.58. 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 has a fifty day moving average price of $37.18 and a 200 day moving average price of $36.38. CenterPoint Energy, Inc. has a 1-year low of $26.32 and a 1-year high of $39.39.

CenterPoint Energy (NYSE:CNP - Get Free Report) last posted its quarterly earnings data 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 firm 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 posted $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. On average, equities research analysts forecast that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

CenterPoint Energy Announces Dividend

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 dividend of $0.22 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. CenterPoint Energy's dividend payout ratio (DPR) is 61.54%.

About CenterPoint Energy

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.