Hennessy Advisors Inc. Sells 16,900 Shares of CenterPoint Energy, Inc. $CNP

Key Points

• Hennessy Advisors Inc. reduced its stake in CenterPoint Energy by 4.0%, selling 16,900 shares and retaining 405,328 shares valued at approximately $14.89 million.
• CenterPoint Energy reported a Q2 EPS of $0.29, missing the consensus estimate of $0.44, and set its FY 2025 guidance at 1.740-1.760 EPS.
• The company declared a quarterly dividend of $0.22 per share, representing an annualized dividend of $0.88 and a yield of 2.3%.

Hennessy Advisors Inc. lowered its holdings in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 405,328 shares of the utilities provider's stock after selling 16,900 shares during the quarter. Hennessy Advisors Inc. owned 0.06% of CenterPoint Energy worth $14,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Curat Global LLC purchased a new position in shares of CenterPoint Energy in the first quarter worth $25,000. N.E.W. Advisory Services LLC purchased a new position in shares of CenterPoint Energy in the first quarter worth $25,000. ST Germain D J Co. Inc. purchased a new position in shares of CenterPoint Energy in the second quarter worth $26,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of CenterPoint Energy in the first quarter worth $27,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of CenterPoint Energy in the second quarter worth $33,000. Hedge funds and other institutional investors own 91.77% of the company's stock.

CenterPoint Energy Stock Performance

Shares of CNP opened at $38.82 on Friday. 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 one year low of $28.57 and a one year high of $40.50. The firm has a market capitalization of $25.35 billion, a P/E ratio of 27.15, a PEG ratio of 2.70 and a beta of 0.57. The business has a fifty day moving average of $38.22 and a 200 day moving average of $37.29.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued 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 return on equity of 9.16% and a net margin of 10.42%.The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the firm earned $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. As a group, sell-side analysts anticipate that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

CenterPoint Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, November 20th. CenterPoint Energy's payout ratio is currently 61.54%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CNP shares. Wall Street Zen cut CenterPoint Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Mizuho boosted their price target on CenterPoint Energy from $39.00 to $40.00 and gave the stock a "neutral" rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on CenterPoint Energy from $39.00 to $40.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. BMO Capital Markets lifted their price objective on CenterPoint Energy from $39.00 to $41.00 and gave the stock a "market perform" rating in a report on Thursday. Finally, Scotiabank lifted their price objective on CenterPoint Energy from $40.00 to $42.00 and gave the stock a "sector outperform" rating in a report on Friday, July 25th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $38.68.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.