Korea Investment CORP Has $11.94 Million Stock Holdings 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 decreased its position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 329,448 shares of the utilities provider's stock after selling 66,200 shares during the period. Korea Investment CORP owned 0.05% of CenterPoint Energy worth $11,936,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNP. Curat Global LLC bought a new position in shares of CenterPoint Energy in the first quarter valued at $25,000. N.E.W. Advisory Services LLC bought a new stake in CenterPoint Energy in the first quarter worth $25,000. Smallwood Wealth Investment Management LLC bought a new stake in CenterPoint Energy during the first quarter valued at about $27,000. Harbor Investment Advisory LLC boosted its holdings in CenterPoint Energy by 201.5% during the first quarter. Harbor Investment Advisory LLC now owns 1,034 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 691 shares during the period. Finally, Motco boosted its holdings in CenterPoint Energy by 107.8% during the first quarter. Motco now owns 1,039 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 539 shares during the period. Institutional investors own 91.77% of the company's stock.

Wall Street Analyst Weigh In

CNP has been the subject of a number of research analyst reports. Evercore ISI upped their price objective on shares of CenterPoint Energy from $37.00 to $41.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Scotiabank upped their price objective on shares of CenterPoint Energy from $40.00 to $42.00 and gave the company a "sector outperform" rating in a research report on Friday, July 25th. Morgan Stanley dropped their price target on shares of CenterPoint Energy from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Thursday, May 22nd. Mizuho set a $39.00 price target on shares of CenterPoint Energy and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Wall Street Zen lowered shares of CenterPoint Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Five equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $37.38.

CenterPoint Energy Price Performance

CenterPoint Energy stock traded up $0.0340 during trading hours on Friday, hitting $38.0340. 5,607,602 shares of the stock were exchanged, compared to its average volume of 5,148,262. 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 market capitalization of $24.83 billion, a P/E ratio of 26.60, a P/E/G ratio of 2.79 and a beta of 0.58. CenterPoint Energy, Inc. has a 12 month low of $26.32 and a 12 month high of $39.39. The business's 50-day moving average is $37.21 and its two-hundred day moving average is $36.48.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued 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). The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $2.20 billion. CenterPoint Energy had a return on equity of 9.16% and a net margin of 10.42%.During the same period in the prior year, the company posted $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. Equities research analysts expect that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.

CenterPoint Energy Dividend Announcement

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