CenterPoint Energy, Inc. $CNP Shares Sold by Stack Financial Management Inc

Key Points

• Stack Financial Management Inc reduced its stake in CenterPoint Energy by 1.1%, now owning approximately 723,097 shares, which represents around 0.11% of the company.
• Several institutional investors, including Vanguard Group Inc and American Century Companies Inc, have increased their stakes, with Vanguard owning over 80 million shares worth approximately $2.9 billion.
• CenterPoint Energy announced a quarterly dividend of $0.22 per share, set to be paid on December 11, with a yield of 2.2% and a dividend payout ratio of 61.54%.

Stack Financial Management Inc reduced its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 723,097 shares of the utilities provider's stock after selling 7,886 shares during the period. CenterPoint Energy makes up 2.3% of Stack Financial Management Inc's holdings, making the stock its 13th largest position. Stack Financial Management Inc owned approximately 0.11% of CenterPoint Energy worth $26,567,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of CenterPoint Energy by 0.8% during the first quarter. Vanguard Group Inc. now owns 80,061,059 shares of the utilities provider's stock worth $2,900,612,000 after acquiring an additional 671,868 shares during the last quarter. Northern Trust Corp boosted its stake in CenterPoint Energy by 0.9% in the 1st quarter. Northern Trust Corp now owns 5,934,611 shares of the utilities provider's stock worth $215,011,000 after purchasing an additional 54,596 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in CenterPoint Energy by 0.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,408,135 shares of the utilities provider's stock worth $195,938,000 after purchasing an additional 42,536 shares during the last quarter. American Century Companies Inc. increased its stake in CenterPoint Energy by 50.2% during 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 purchasing an additional 1,709,682 shares in the last quarter. Finally, Reaves W H & Co. Inc. increased its stake in CenterPoint Energy by 58.4% during the 1st quarter. Reaves W H & Co. Inc. now owns 4,385,632 shares of the utilities provider's stock valued at $158,891,000 after purchasing an additional 1,616,181 shares in the last quarter. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Mizuho boosted 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, September 30th. BMO Capital Markets lifted their price target on CenterPoint Energy from $39.00 to $41.00 and gave the stock a "market perform" rating in a research report on Thursday, October 2nd. Weiss Ratings reissued a "buy (b-)" rating on shares of CenterPoint Energy in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on CenterPoint Energy from $39.00 to $40.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Finally, Scotiabank upped their target price on 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 research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, CenterPoint Energy has a consensus rating of "Hold" and an average price target of $39.68.

CenterPoint Energy Stock Up 0.3%

Shares of CNP opened at $39.22 on Monday. The company has a market capitalization of $25.61 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 2.76 and a beta of 0.57. CenterPoint Energy, Inc. has a 52 week low of $28.57 and a 52 week high of $40.50. The stock's 50-day moving average price is $38.32 and its 200-day moving average price is $37.45. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 1.87.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.15). CenterPoint Energy had a net margin of 10.42% and a return on equity of 9.16%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. On average, sell-side analysts predict that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

CenterPoint Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 20th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, November 20th. 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.

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