54,500 Shares in CenterPoint Energy, Inc. $CNP Bought by Decade Renewable Partners LP

Key Points

• Decade Renewable Partners LP purchased a new position in CenterPoint Energy, acquiring 54,500 shares valued at approximately $1.98 million, making it 1.5% of their portfolio.
• CenterPoint Energy reported $0.29 earnings per share for the last quarter, missing analysts' expectations, with revenues of $1.94 billion compared to a forecast of $2.20 billion.
• The company announced a quarterly dividend of $0.22 per share, translating to an annualized yield of 2.3%, to be distributed on September 11th.

Decade Renewable Partners LP purchased a new position in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 54,500 shares of the utilities provider's stock, valued at approximately $1,975,000. CenterPoint Energy comprises 1.5% of Decade Renewable Partners LP's holdings, making the stock its 22nd largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNP. Brighton Jones LLC purchased a new stake in shares of CenterPoint Energy in the 4th quarter worth approximately $254,000. Freestone Grove Partners LP bought a new position in CenterPoint Energy in the 4th quarter valued at approximately $783,000. Mercer Global Advisors Inc. ADV lifted its position in CenterPoint Energy by 7.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 24,543 shares of the utilities provider's stock valued at $779,000 after acquiring an additional 1,674 shares in the last quarter. Ariel Investments LLC bought a new position in CenterPoint Energy in the 4th quarter valued at approximately $46,281,000. Finally, Aptus Capital Advisors LLC bought a new position in CenterPoint Energy in the 4th quarter valued at approximately $258,000. Hedge funds and other institutional investors own 91.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CNP shares. Barclays upped their price objective on CenterPoint Energy from $38.00 to $39.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Scotiabank upped their price objective 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. JPMorgan Chase & Co. upped their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Wall Street Zen cut CenterPoint Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Finally, Mizuho set a $39.00 price objective on CenterPoint Energy and gave the company a "neutral" rating in a research report on Friday, July 25th. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $37.71.

CenterPoint Energy Stock Performance

Shares of NYSE CNP traded down $0.15 during midday trading on Thursday, hitting $37.48. 6,433,281 shares of the stock traded hands, compared to its average volume of 5,229,830. The firm has a 50-day moving average of $37.49 and a two-hundred day moving average of $36.70. The firm has a market capitalization of $24.47 billion, a P/E ratio of 26.21, a PEG ratio of 2.76 and a beta of 0.58. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.61 and a current ratio of 0.79. CenterPoint Energy, Inc. has a one year low of $26.32 and a one year high of $39.39.

CenterPoint Energy (NYSE:CNP - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The utilities provider reported $0.29 earnings per share 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 firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the company earned $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. On average, equities analysts forecast that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.

CenterPoint Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 21st. CenterPoint Energy's dividend payout ratio (DPR) 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.