Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in CenterPoint Energy, Inc. $CNP

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in CenterPoint Energy by 9.6% in the second quarter, owning a total of 77,283 shares valued at $2,839,000.
• Several institutional investors, including Vanguard Group and American Century Companies Inc., have also raised their positions in CenterPoint Energy, with 91.77% of the stock currently owned by such investors.
• CenterPoint Energy announced a quarterly dividend of $0.22 per share, with a payout ratio of 61.54%, and will be paid on December 11th to shareholders of record as of November 20th.

Mirae Asset Global Investments Co. Ltd. grew its stake in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 9.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,283 shares of the utilities provider's stock after acquiring an additional 6,789 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in CenterPoint Energy were worth $2,839,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CNP. Vanguard Group Inc. boosted its position in CenterPoint Energy by 0.8% during the first quarter. Vanguard Group Inc. now owns 80,061,059 shares of the utilities provider's stock worth $2,900,612,000 after acquiring an additional 671,868 shares during the last quarter. Northern Trust Corp boosted its position in CenterPoint Energy by 0.9% during the first quarter. Northern Trust Corp now owns 5,934,611 shares of the utilities provider's stock worth $215,011,000 after acquiring an additional 54,596 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in CenterPoint Energy by 0.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,408,135 shares of the utilities provider's stock worth $195,938,000 after acquiring an additional 42,536 shares during the last quarter. American Century Companies Inc. grew its holdings in CenterPoint Energy by 50.2% in the 1st quarter. American Century Companies Inc. now owns 5,118,233 shares of the utilities provider's stock valued at $185,434,000 after buying an additional 1,709,682 shares during the period. Finally, Reaves W H & Co. Inc. grew its holdings in CenterPoint Energy by 58.4% in the 1st quarter. Reaves W H & Co. Inc. now owns 4,385,632 shares of the utilities provider's stock valued at $158,891,000 after buying an additional 1,616,181 shares during the period. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNP has been the subject of several recent analyst reports. Scotiabank lifted their price target on CenterPoint Energy from $40.00 to $42.00 and gave the company a "sector outperform" rating in a report on Friday, July 25th. JPMorgan Chase & Co. lifted their price target on CenterPoint Energy from $39.00 to $40.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. BMO Capital Markets upped their price objective on CenterPoint Energy from $39.00 to $41.00 and gave the stock a "market perform" rating in a report on Thursday, October 2nd. Morgan Stanley dropped their price objective on CenterPoint Energy from $38.00 to $37.00 and set an "equal weight" rating for the company in a report on Thursday, September 25th. Finally, Barclays upped their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the stock an "equal weight" rating in a report on Tuesday. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, CenterPoint Energy currently has a consensus rating of "Hold" and an average target price of $38.86.

CenterPoint Energy Price Performance

Shares of CNP stock opened at $39.40 on Wednesday. The company has a market capitalization of $25.72 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 2.78 and a beta of 0.57. The firm has a fifty day simple moving average of $38.28 and a 200-day simple moving average of $37.35. The company has a current ratio of 0.79, a quick ratio of 0.61 and a debt-to-equity ratio of 1.87. CenterPoint Energy, Inc. has a twelve month low of $28.57 and a twelve month high of $40.50.

CenterPoint Energy (NYSE:CNP - Get Free Report) last announced its earnings results 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 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 quarter last 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 anticipate that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

CenterPoint Energy Announces Dividend

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 paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Thursday, November 20th. CenterPoint Energy's dividend payout ratio (DPR) 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.

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