Korea Investment CORP Lowers Stock Position in CenterPoint Energy, Inc. $CNP

Key Points

• Korea Investment CORP has reduced its holdings in CenterPoint Energy, inc. by 16.7%, now owning 329,448 shares after selling 66,200 shares during the first quarter.
• CenterPoint Energy reported $0.29 earnings per share (EPS) for the last quarter, missing analysts' expectations of $0.44, alongside revenues of $1.94 billion, which also fell short of the $2.20 billion forecast.
• Several analysts have updated their price targets for CenterPoint Energy, with a consensus target of $37.38 and a mix of ratings including five Buy and nine Hold ratings.

Korea Investment CORP cut its holdings in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 16.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 329,448 shares of the utilities provider's stock after selling 66,200 shares during the period. Korea Investment CORP owned about 0.05% of CenterPoint Energy worth $11,936,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings in shares of CenterPoint Energy by 8.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 80,229 shares of the utilities provider's stock worth $2,907,000 after buying an additional 6,377 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of CenterPoint Energy by 8.8% during the 1st quarter. QRG Capital Management Inc. now owns 19,913 shares of the utilities provider's stock worth $721,000 after purchasing an additional 1,615 shares during the period. Principal Financial Group Inc. boosted its stake in shares of CenterPoint Energy by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 864,175 shares of the utilities provider's stock worth $31,309,000 after purchasing an additional 26,153 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of CenterPoint Energy by 32.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,314,131 shares of the utilities provider's stock worth $73,427,000 after purchasing an additional 569,389 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of CenterPoint Energy by 5.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 166,743 shares of the utilities provider's stock worth $6,041,000 after purchasing an additional 8,914 shares during the period. 91.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on CNP. Morgan Stanley set a $38.00 price target on shares of CenterPoint Energy and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Barclays lifted their price target on shares of CenterPoint Energy from $38.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. BMO Capital Markets lifted their price target on shares of CenterPoint Energy from $36.00 to $39.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 22nd. Mizuho set a $39.00 price target on shares of CenterPoint Energy and gave the stock a "neutral" rating in a research note on Friday, July 25th. Finally, Wall Street Zen cut shares of CenterPoint Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $37.71.

CenterPoint Energy Trading Up 0.0%

CenterPoint Energy stock traded up $0.02 during trading hours on Wednesday, hitting $37.72. The company had a trading volume of 3,246,802 shares, compared to its average volume of 4,455,346. The firm has a market cap of $24.62 billion, a P/E ratio of 26.37, a P/E/G 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 1 year low of $26.32 and a 1 year high of $39.39. The company has a 50-day moving average price of $37.33 and a two-hundred day moving average price of $36.53.

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 (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.15). The company had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $2.20 billion. CenterPoint Energy had a net margin of 10.42% and a return on equity of 9.16%. During the same period last year, the firm earned $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. On average, sell-side analysts anticipate that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

CenterPoint Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 21st. CenterPoint Energy's payout ratio is 61.54%.

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.