Janney Montgomery Scott LLC Sells 8,019 Shares of CenterPoint Energy, Inc. $CNP

Key Points

• Janney Montgomery Scott LLC decreased its stake in CenterPoint Energy, Inc. by 10.0%, selling 8,019 shares during the second quarter, leaving them with a total of 72,210 shares valued at approximately $2.65 million.
• CenterPoint Energy reported a missed earnings estimate for the last quarter, with earnings per share at $0.29, below the consensus estimate of $0.44, and total revenue of $1.94 billion compared to expected $2.20 billion.
• The company announced a quarterly dividend of $0.22, to be paid on December 11th, with a yield of 2.2%, and a dividend payout ratio of 61.54%.

Janney Montgomery Scott LLC trimmed its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 10.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 72,210 shares of the utilities provider's stock after selling 8,019 shares during the quarter. Janney Montgomery Scott LLC's holdings in CenterPoint Energy were worth $2,653,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. N.E.W. Advisory Services LLC bought a new stake in shares of CenterPoint Energy during the 1st quarter valued at $25,000. ST Germain D J Co. Inc. bought a new position in CenterPoint Energy in the 2nd quarter worth about $26,000. Smallwood Wealth Investment Management LLC bought a new position in CenterPoint Energy in the 1st quarter worth about $27,000. Motco increased its stake in CenterPoint Energy by 107.8% in the 1st quarter. Motco now owns 1,039 shares of the utilities provider's stock worth $38,000 after acquiring an additional 539 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its stake in CenterPoint Energy by 472.8% in the 1st quarter. Golden State Wealth Management LLC now owns 1,220 shares of the utilities provider's stock worth $44,000 after acquiring an additional 1,007 shares during the last quarter. 91.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CNP has been the topic of a number of research analyst reports. Wall Street Zen lowered CenterPoint Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Morgan Stanley reduced their price objective on CenterPoint Energy from $38.00 to $37.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 25th. JPMorgan Chase & Co. increased 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. Barclays increased their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, Evercore ISI started coverage on CenterPoint Energy in a research report on Monday. They set an "in-line" rating and a $42.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $38.86.

CenterPoint Energy Trading Down 1.1%

NYSE CNP opened at $39.12 on Friday. CenterPoint Energy, Inc. has a fifty-two week low of $28.57 and a fifty-two week high of $40.50. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.61 and a current ratio of 0.79. The stock has a 50 day simple moving average of $38.31 and a two-hundred day simple moving average of $37.39. The stock has a market cap of $25.54 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 2.79 and a beta of 0.57.

CenterPoint Energy (NYSE:CNP - Get Free Report) last released its quarterly earnings data 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 return on equity of 9.16% and a net margin of 10.42%.The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter last year, the business posted $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. On average, analysts forecast that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

CenterPoint Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th will be issued a $0.22 dividend. The ex-dividend date is Thursday, November 20th. This represents a $0.88 annualized dividend and a yield of 2.2%. CenterPoint Energy's dividend payout ratio (DPR) is 61.54%.

CenterPoint Energy Company 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.