Ninepoint Partners LP Acquires Shares of 35,588 CenterPoint Energy, Inc. $CNP

Key Points

• Ninepoint Partners acquired 35,588 shares of CenterPoint Energy during the second quarter, valued at approximately $1.57 million. Institutional investors collectively own 91.77% of the company.
• Analyst sentiment is mixed but generally favorable, with nine Buy ratings, seven Holds, and one Sell; the average price target is $45.43 versus a recent share price of $40.20.
• CenterPoint exceeded quarterly earnings expectations with EPS of $0.40 and revenue of $2.15 billion. The company also raised its quarterly dividend to $0.24 per share, implying a 2.4% annualized yield.

Ninepoint Partners LP bought a new position in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,588 shares of the utilities provider's stock, valued at approximately $1,567,000.

A number of other institutional investors have also recently made changes to their positions in CNP. New Age Alpha Advisors LLC purchased a new position in CenterPoint Energy in the 4th quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd boosted its stake in 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 valued at $27,000 after purchasing an additional 235 shares during the last quarter. Rothschild Investment LLC increased its holdings in shares of CenterPoint Energy by 165.0% in 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. MidFirst Bank bought a new stake in shares of CenterPoint Energy in the 2nd quarter worth $38,000. Finally, Rexford Capital Inc. purchased a new position in shares of CenterPoint Energy in the first quarter worth $39,000. Hedge funds and other institutional investors own 91.77% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wolfe Research reaffirmed an "outperform" rating and set a $49.00 price objective on shares of CenterPoint Energy in a research report on Wednesday, July 29th. BMO Capital Markets decreased their target price on CenterPoint Energy from $48.00 to $47.00 and set an "outperform" rating for the company in a research report on Wednesday, July 22nd. Morgan Stanley set a $40.00 price target on shares of CenterPoint Energy in a report on Wednesday, July 22nd. Weiss Ratings reiterated a "buy (b)" rating on shares of CenterPoint Energy in a research note on Monday, June 15th. Finally, Truist Financial decreased their price objective on shares of CenterPoint Energy from $48.00 to $46.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $45.43.

CenterPoint Energy Stock Performance

Shares of CNP opened at $40.20 on Friday. The firm has a market capitalization of $26.48 billion, a P/E ratio of 23.65, a PEG ratio of 2.39 and a beta of 0.46. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.12 and a quick ratio of 0.97. CenterPoint Energy, Inc. has a one year low of $36.60 and a one year high of $45.26. The business has a fifty day moving average of $42.77 and a 200 day moving average of $42.63.

CenterPoint Energy (NYSE:CNP - Get Free Report) last posted its earnings results on Tuesday, July 28th. The utilities provider reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.03. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.12 billion. CenterPoint Energy had a return on equity of 11.10% and a net margin of 11.61%.During the same quarter in the prior year, the company earned $0.29 earnings per share. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. As a group, sell-side analysts anticipate that CenterPoint Energy, Inc. will post 1.91 EPS for the current year.

CenterPoint Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 20th will be paid a $0.24 dividend. This is a boost from CenterPoint Energy's previous quarterly dividend of $0.23. The ex-dividend date is Thursday, August 20th. This represents a $0.96 annualized dividend and a dividend yield of 2.4%. CenterPoint Energy's dividend payout ratio (DPR) is currently 56.47%.

About CenterPoint Energy

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.

Want to see what other hedge funds are holding CNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CenterPoint Energy, Inc. (NYSE:CNP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source