Contravisory Investment Management Inc. Makes New $441,000 Investment in CenterPoint Energy, Inc. $CNP

Key Points

• Contravisory Investment Management Inc. has acquired a new stake in CenterPoint Energy, Inc., purchasing 12,007 shares valued at approximately $441,000 during the second quarter.
• Analysts predict growth for CenterPoint Energy, with several institutions lifting their price targets; the consensus rating for the stock is currently "Hold" with an average price target of $38.50.
• CenterPoint Energy recently announced a quarterly dividend of $0.22 per share, reflecting a 2.3% yield and a dividend payout ratio of 61.54%.

Contravisory Investment Management Inc. acquired a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,007 shares of the utilities provider's stock, valued at approximately $441,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its stake in CenterPoint Energy by 1,147.9% during the second quarter. Exchange Traded Concepts LLC now owns 138,692 shares of the utilities provider's stock worth $5,096,000 after buying an additional 127,578 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in CenterPoint Energy by 80.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,410 shares of the utilities provider's stock worth $4,795,000 after buying an additional 59,302 shares during the period. Longboard Asset Management LP purchased a new position in CenterPoint Energy during the second quarter worth $203,000. Baader Bank Aktiengesellschaft lifted its position in shares of CenterPoint Energy by 31.6% during the second quarter. Baader Bank Aktiengesellschaft now owns 9,975 shares of the utilities provider's stock worth $366,000 after purchasing an additional 2,393 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of CenterPoint Energy by 18.2% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 86,479 shares of the utilities provider's stock worth $3,177,000 after purchasing an additional 13,294 shares during the last quarter. 91.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CNP shares. Barclays lifted their target price on CenterPoint Energy from $38.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. BMO Capital Markets lifted their target price on CenterPoint Energy from $36.00 to $39.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Wall Street Zen downgraded CenterPoint Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Morgan Stanley set a $38.00 target price on CenterPoint Energy and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Finally, Scotiabank lifted their target price on CenterPoint Energy from $40.00 to $42.00 and gave the stock a "sector outperform" rating in a research report on Friday, July 25th. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, CenterPoint Energy has a consensus rating of "Hold" and a consensus target price of $38.50.

CenterPoint Energy Stock Up 0.5%

NYSE CNP traded up $0.20 during trading on Monday, reaching $38.22. 4,002,857 shares of the company's stock traded hands, compared to its average volume of 4,477,797. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.79 and a quick ratio of 0.61. The firm has a market cap of $24.95 billion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. The company's 50 day simple moving average is $37.95 and its two-hundred day simple moving average is $37.09. CenterPoint Energy, Inc. has a 12-month low of $28.30 and a 12-month high of $39.39.

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

CenterPoint Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st were issued 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 payout ratio is currently 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.