Fifth Third Bancorp Has $5.79 Million Stake in CenterPoint Energy, Inc. $CNP

Key Points

• Fifth Third Bancorp sharply increased its CenterPoint Energy stake by 525.4% in the first quarter, ending with 134,258 shares valued at about $5.79 million.
• CenterPoint Energy raised its quarterly dividend to $0.24 per share from $0.23, bringing the annualized payout to $0.96 and the yield to 2.2%.
• Recent earnings were mixed: CenterPoint reported $0.56 EPS, slightly below estimates, but revenue came in well above expectations at $2.98 billion; analysts currently rate the stock a consensus Hold with an average target price of $45.31.

Fifth Third Bancorp increased its stake in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 525.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,258 shares of the utilities provider's stock after acquiring an additional 112,792 shares during the quarter. Fifth Third Bancorp's holdings in CenterPoint Energy were worth $5,795,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC bought a new stake in CenterPoint Energy in the fourth quarter valued at $254,000. AQR Capital Management LLC boosted its position in shares of CenterPoint Energy by 15.6% during the 1st quarter. AQR Capital Management LLC now owns 76,100 shares of the utilities provider's stock worth $2,757,000 after purchasing an additional 10,277 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of CenterPoint Energy by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,683 shares of the utilities provider's stock worth $2,525,000 after purchasing an additional 3,821 shares in the last quarter. Empowered Funds LLC grew its stake in shares of CenterPoint Energy by 11.5% in the 1st quarter. Empowered Funds LLC now owns 13,411 shares of the utilities provider's stock valued at $486,000 after buying an additional 1,384 shares during the period. Finally, Woodline Partners LP grew its stake in shares of CenterPoint Energy by 40.7% in the 1st quarter. Woodline Partners LP now owns 55,061 shares of the utilities provider's stock valued at $1,995,000 after buying an additional 15,922 shares during the period. Institutional investors and hedge funds own 91.77% of the company's stock.

CenterPoint Energy Price Performance

CNP stock opened at $43.29 on Friday. The company has a market capitalization of $28.32 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 2.53 and a beta of 0.46. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.04 and a current ratio of 1.16. CenterPoint Energy, Inc. has a 52-week low of $35.94 and a 52-week high of $45.22. The business has a 50-day simple moving average of $42.98 and a two-hundred day simple moving average of $42.11.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The utilities provider reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.02). CenterPoint Energy had a return on equity of 10.56% and a net margin of 11.38%.The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the firm posted $0.53 earnings per share. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. Research analysts expect that CenterPoint Energy, Inc. will post 1.91 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be given a $0.24 dividend. This is an increase from CenterPoint Energy's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 20th. CenterPoint Energy's payout ratio is presently 56.44%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Bank of America boosted their target price on CenterPoint Energy from $42.00 to $44.00 and gave the company a "neutral" rating in a research report on Wednesday, April 15th. Wells Fargo & Company reiterated an "overweight" rating and issued a $48.00 price target on shares of CenterPoint Energy in a report on Tuesday, April 21st. Weiss Ratings reissued a "buy (b)" rating on shares of CenterPoint Energy in a research note on Monday, June 15th. BTIG Research began coverage on CenterPoint Energy in a report on Tuesday, June 30th. They set a "neutral" rating for the company. Finally, BMO Capital Markets upped their target price on CenterPoint Energy from $47.00 to $48.00 and gave the stock an "outperform" rating in a research report on Wednesday. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, CenterPoint Energy currently has an average rating of "Hold" and an average target price of $45.31.

CenterPoint Energy Company Profile

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.

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