CenterPoint Energy, Inc. $CNP Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its stake in CenterPoint Energy by 13.9%, now holding 489,310 shares worth approximately $17.98 million.
• The company recently reported $0.29 EPS for the quarter, missing estimates and generating revenue of $1.94 billion, below the expected $2.20 billion.
• CenterPoint Energy announced a quarterly dividend of $0.22 per share, reflecting an annual yield of 2.2%, with the payment set for December 11th.

TD Asset Management Inc decreased its position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 13.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 489,310 shares of the utilities provider's stock after selling 78,737 shares during the quarter. TD Asset Management Inc owned approximately 0.07% of CenterPoint Energy worth $17,977,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CNP. Brighton Jones LLC purchased a new position in CenterPoint Energy during the fourth quarter worth about $254,000. GAMMA Investing LLC increased its holdings in shares of CenterPoint Energy by 29.3% during the 1st quarter. GAMMA Investing LLC now owns 14,818 shares of the utilities provider's stock worth $537,000 after buying an additional 3,359 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of CenterPoint Energy during the 1st quarter valued at approximately $645,000. Wealth Enhancement Advisory Services LLC lifted its holdings in CenterPoint Energy by 106.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 74,108 shares of the utilities provider's stock valued at $2,685,000 after acquiring an additional 38,292 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in CenterPoint Energy by 8.6% in the first quarter. Janney Montgomery Scott LLC now owns 80,229 shares of the utilities provider's stock worth $2,907,000 after acquiring an additional 6,377 shares during the period. Hedge funds and other institutional investors own 91.77% of the company's stock.

CenterPoint Energy Trading Down 0.1%

CNP opened at $39.65 on Friday. CenterPoint Energy, Inc. has a 52 week low of $28.57 and a 52 week high of $40.50. 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 simple moving average of $38.39 and a 200-day simple moving average of $37.54. The firm has a market cap of $25.88 billion, a P/E ratio of 27.72, a P/E/G ratio of 2.84 and a beta of 0.57.

CenterPoint Energy (NYSE:CNP - Get Free Report) last posted 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 firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the company posted $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. On average, equities analysts expect that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

CenterPoint Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, November 20th. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. CenterPoint Energy's dividend payout ratio is 61.54%.

Wall Street Analyst Weigh In

A number of research firms have commented on CNP. BMO Capital Markets lifted their target price on CenterPoint Energy from $39.00 to $41.00 and gave the company a "market perform" rating in a research report on Thursday, October 2nd. UBS Group raised their price objective on CenterPoint Energy from $44.00 to $46.00 and gave the stock a "buy" rating in a research report on Friday, October 10th. Morgan Stanley decreased their target price on shares of CenterPoint Energy from $38.00 to $37.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of CenterPoint Energy in a research note on Wednesday, October 8th. Finally, Scotiabank lifted their price target 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 research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, CenterPoint Energy presently has a consensus rating of "Hold" and a consensus price target of $40.45.

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.

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