Comerica Bank Decreases Position in CenterPoint Energy, Inc. $CNP

Key Points

• Comerica Bank has reduced its stake in CenterPoint Energy by 7.5%, now holding 105,071 shares valued at approximately $3.8 million.
• Despite the reduction in stake by Comerica Bank, several other institutional investors are increasing their positions in CenterPoint Energy, with 91.77% of the stock owned by hedge funds and institutional investors.
• CenterPoint Energy reported $0.29 earnings per share for the last quarter, missing expectations by 15 cents, and its current price target consensus is $37.71 according to analysts.

Comerica Bank trimmed its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,071 shares of the utilities provider's stock after selling 8,528 shares during the period. Comerica Bank's holdings in CenterPoint Energy were worth $3,807,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CNP. Curat Global LLC bought a new position in CenterPoint Energy during the 1st quarter worth approximately $25,000. N.E.W. Advisory Services LLC bought a new stake in shares of CenterPoint Energy in the 1st quarter worth approximately $25,000. Smallwood Wealth Investment Management LLC purchased a new stake in CenterPoint Energy in the first quarter worth $27,000. Harbor Investment Advisory LLC boosted its holdings in 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 acquiring an additional 691 shares in the last quarter. Finally, Motco boosted its holdings in CenterPoint Energy by 107.8% in the first quarter. Motco now owns 1,039 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 539 shares in the last quarter. Hedge funds and other institutional investors own 91.77% of the company's stock.

CenterPoint Energy Stock Performance

Shares of CNP stock traded down $0.29 during trading hours on Thursday, reaching $37.34. 5,568,857 shares of the company traded hands, compared to its average volume of 5,226,441. The firm has a 50-day moving average price of $37.49 and a 200 day moving average price of $36.70. The company has a market cap of $24.37 billion, a P/E ratio of 26.11, a P/E/G ratio of 2.76 and a beta of 0.58. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.79 and a quick ratio of 0.61. CenterPoint Energy, Inc. has a 12-month low of $26.32 and a 12-month high of $39.39.

CenterPoint Energy (NYSE:CNP - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The utilities provider reported $0.29 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the company earned $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. As a group, sell-side analysts predict that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

CenterPoint Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. CenterPoint Energy's dividend payout ratio (DPR) is currently 61.54%.

Wall Street Analyst Weigh In

CNP has been the subject of a number of research reports. Mizuho set a $39.00 price objective on CenterPoint Energy and gave the stock a "neutral" rating in a report on Friday, July 25th. Scotiabank increased their price target on shares of CenterPoint Energy from $40.00 to $42.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 25th. Barclays lifted their price objective on CenterPoint Energy from $38.00 to $39.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Wall Street Zen cut CenterPoint Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Finally, BMO Capital Markets increased their price objective on shares of CenterPoint Energy from $36.00 to $39.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $37.71.

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.