Jennison Associates LLC Has $324.43 Million Stake in CenterPoint Energy, Inc. $CNP

Key Points

• Jennison Associates LLC trimmed its CenterPoint Energy stake by 2.7% in the first quarter but still held 7.52 million shares, valued at about $324.4 million.
• CenterPoint Energy reported Q1 earnings of $0.56 per share, slightly below estimates, while revenue came in at $2.98 billion, well above analyst expectations.
• The company raised its quarterly dividend to $0.24 per share from $0.23, which annualizes to $0.96 and implies a dividend yield of about 2.2%.

Jennison Associates LLC trimmed its stake in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 2.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,517,003 shares of the utilities provider's stock after selling 205,890 shares during the period. Jennison Associates LLC owned about 1.15% of CenterPoint Energy worth $324,434,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CNP. New Age Alpha Advisors LLC acquired a new stake in shares of CenterPoint Energy in the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd increased its position in shares of 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 purchasing an additional 235 shares in the last quarter. Rothschild Investment LLC increased its position in shares of CenterPoint Energy by 165.0% during the 4th quarter. Rothschild Investment LLC now owns 734 shares of the utilities provider's stock worth $28,000 after purchasing an additional 457 shares in the last quarter. DV Equities LLC bought a new position in CenterPoint Energy during the 4th quarter valued at about $35,000. Finally, Rexford Capital Inc. bought a new position in CenterPoint Energy during the 1st quarter valued at about $39,000. 91.77% of the stock is currently owned by institutional investors and hedge funds.

CenterPoint Energy Stock Down 0.5%

Shares of NYSE:CNP opened at $43.13 on Friday. CenterPoint Energy, Inc. has a 12 month low of $36.59 and a 12 month high of $45.22. The company's 50-day moving average price is $43.01 and its two-hundred day moving average price is $42.12. The company has a quick ratio of 1.04, a current ratio of 1.16 and a debt-to-equity ratio of 1.96. The firm has a market cap of $28.22 billion, a P/E ratio of 26.46, a P/E/G ratio of 2.56 and a beta of 0.46.

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

CenterPoint Energy Increases Dividend

The business also recently declared 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. This is an increase from CenterPoint Energy's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, August 20th. CenterPoint Energy's dividend payout ratio (DPR) is 56.44%.

Wall Street Analysts Forecast Growth

CNP has been the topic of several research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of CenterPoint Energy in a research note on Monday, June 15th. Wall Street Zen cut shares of CenterPoint Energy from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. Jefferies Financial Group set a $50.00 target price on CenterPoint Energy in a report on Thursday, June 18th. Bank of America increased their price target on CenterPoint Energy from $42.00 to $44.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 15th. Finally, Barclays raised their price target on CenterPoint Energy from $38.00 to $44.00 and gave the company an "equal weight" rating in a report on Wednesday, April 15th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, CenterPoint Energy currently has an average rating of "Hold" and a consensus 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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