Daiichi Life Insurance Co. Ltd. Takes $1.28 Million Position in CenterPoint Energy, Inc. $CNP

Key Points

• Daiichi Life Insurance acquired 28,970 shares of CenterPoint Energy worth approximately $1.28 million in the second quarter. Institutional investors and hedge funds collectively own 91.77% of the company.
• CenterPoint Energy reported quarterly EPS of $0.40, exceeding analyst estimates of $0.37, while revenue reached $2.15 billion. The company raised its quarterly dividend from $0.23 to $0.24 per share, representing a 2.5% yield.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $45.36, above the stock’s reported price of $39.09.

Daiichi Life Insurance Co. Ltd. acquired a new stake in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 28,970 shares of the utilities provider's stock, valued at approximately $1,276,000.

Other hedge funds have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its holdings in CenterPoint Energy by 49.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the utilities provider's stock worth $27,000 after acquiring an additional 235 shares during the last quarter. Focus Financial Network Inc. increased its position in CenterPoint Energy by 4.9% in the 2nd quarter. Focus Financial Network Inc. now owns 5,089 shares of the utilities provider's stock valued at $224,000 after acquiring an additional 239 shares during the period. Zacks Investment Management raised its stake in shares of CenterPoint Energy by 0.8% during the third quarter. Zacks Investment Management now owns 31,142 shares of the utilities provider's stock valued at $1,208,000 after acquiring an additional 256 shares during the last quarter. CX Institutional raised its stake in shares of CenterPoint Energy by 3.7% during the second quarter. CX Institutional now owns 7,643 shares of the utilities provider's stock valued at $337,000 after acquiring an additional 275 shares during the last quarter. Finally, Horizon Investments LLC lifted its holdings in shares of CenterPoint Energy by 3.2% during the fourth quarter. Horizon Investments LLC now owns 10,483 shares of the utilities provider's stock worth $402,000 after purchasing an additional 326 shares during the period. 91.77% of the stock is currently owned by institutional investors and hedge funds.

CenterPoint Energy Stock Up 0.8%

CenterPoint Energy stock opened at $39.09 on Tuesday. The firm has a market cap of $25.75 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 2.30 and a beta of 0.46. CenterPoint Energy, Inc. has a 52-week low of $36.60 and a 52-week high of $45.26. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.97 and a current ratio of 1.12. The firm has a 50 day moving average price of $42.61 and a two-hundred day moving average price of $42.62.

CenterPoint Energy (NYSE:CNP - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.03. CenterPoint Energy had a net margin of 11.61% and a return on equity of 11.10%. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same period in the prior year, the firm posted $0.29 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. Equities analysts predict that CenterPoint Energy, Inc. will post 1.91 EPS for the current year.

CenterPoint Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be issued a $0.24 dividend. The ex-dividend date is Thursday, August 20th. This is a positive change from CenterPoint Energy's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 2.5%. CenterPoint Energy's dividend payout ratio (DPR) is presently 56.47%.

Analysts Set New Price Targets

CNP has been the topic of several analyst reports. Wall Street Zen raised shares of CenterPoint Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Jefferies Financial Group set a $50.00 target price on CenterPoint Energy in a research report on Thursday, June 18th. Evercore set a $43.00 target price on CenterPoint Energy in a report on Monday, August 17th. Weiss Ratings reiterated a "buy (b)" rating on shares of CenterPoint Energy in a research report on Monday, June 15th. Finally, Morgan Stanley decreased their price target on CenterPoint Energy from $40.00 to $39.00 and set an "equal weight" rating for the company in a research note on Friday. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, CenterPoint Energy currently has a consensus rating of "Moderate Buy" and an average target price of $45.36.

About CenterPoint Energy

CenterPoint Energy, Inc NYSE: CNP is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company's principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint's core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source