Millennium Management LLC Grows Position in CenterPoint Energy, Inc. $CNP

Key Points

• Millennium Management LLC significantly increased its stake in CenterPoint Energy by 2,845.6%, bringing its total holdings to nearly 1.94 million shares worth approximately $70.2 million.
• CenterPoint Energy recently reported earnings per share of $0.29 for the last quarter, falling short of analysts' expectations of $0.44, alongside a revenue of $1.94 billion versus an anticipated $2.20 billion.
• The company announced a quarterly dividend of $0.22 per share, equating to an annualized yield of 2.3%, with a payout date set for September 11th.

Millennium Management LLC boosted its holdings in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 2,845.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,938,231 shares of the utilities provider's stock after purchasing an additional 1,872,429 shares during the period. Millennium Management LLC owned about 0.30% of CenterPoint Energy worth $70,222,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Private Trust Co. NA boosted its position in CenterPoint Energy by 21.5% in the first quarter. Private Trust Co. NA now owns 1,653 shares of the utilities provider's stock worth $60,000 after purchasing an additional 293 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of CenterPoint Energy by 17.8% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,014 shares of the utilities provider's stock valued at $73,000 after buying an additional 304 shares during the last quarter. Fulton Bank N.A. lifted its position in shares of CenterPoint Energy by 2.7% during the 1st quarter. Fulton Bank N.A. now owns 13,718 shares of the utilities provider's stock valued at $497,000 after buying an additional 362 shares during the last quarter. Baader Bank Aktiengesellschaft lifted its position in shares of CenterPoint Energy by 5.5% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 7,582 shares of the utilities provider's stock valued at $272,000 after buying an additional 392 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its position in shares of CenterPoint Energy by 58.9% during the 4th quarter. CoreCap Advisors LLC now owns 1,079 shares of the utilities provider's stock valued at $34,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 91.77% of the company's stock.

Wall Street Analyst Weigh In

CNP has been the topic of a number of recent research reports. Scotiabank upped their price target on 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 set a $38.00 price target on CenterPoint Energy and gave the company an "outperform" rating in a research report on Thursday, August 21st. Barclays upped their price target on CenterPoint Energy from $38.00 to $39.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. upped their price target on CenterPoint Energy from $39.00 to $40.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen cut CenterPoint Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $38.50.

CenterPoint Energy Price Performance

CNP traded up $0.12 during trading on Friday, reaching $38.36. 1,472,238 shares of the company were exchanged, compared to its average volume of 5,195,823. The company's 50-day moving average is $37.66 and its two-hundred day moving average is $36.86. The company has a market cap of $25.04 billion, a price-to-earnings ratio of 26.82, a P/E/G ratio of 2.77 and a beta of 0.58. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 1.87. CenterPoint Energy, Inc. has a 12-month low of $26.32 and a 12-month high of $39.39.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.15). The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations 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 last year, the company posted $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. Research analysts forecast that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

CenterPoint Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.88 annualized dividend and a dividend yield of 2.3%. CenterPoint Energy's dividend payout ratio (DPR) is presently 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.