Otter Creek Advisors LLC Has $259,000 Stock Holdings in CenterPoint Energy, Inc. $CNP

Key Points

• Otter Creek Advisors LLC significantly reduced its stake in CenterPoint Energy, Inc. by 94% during Q2, now holding shares valued at $259,000 after selling 111,080 shares.
• CenterPoint Energy reported earnings per share of $0.29 for the last quarter, missing analysts' expectations of $0.44, and set FY 2025 guidance of 1.740-1.760 EPS.
• The company has announced a $0.22 quarterly dividend, representing an annualized yield of 2.2%, with the payment date set for December 11th.

Otter Creek Advisors LLC lessened its stake in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 94.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,036 shares of the utilities provider's stock after selling 111,080 shares during the quarter. Otter Creek Advisors LLC's holdings in CenterPoint Energy were worth $259,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CNP. Brighton Jones LLC acquired a new position in CenterPoint Energy in the 4th quarter valued at approximately $254,000. GAMMA Investing LLC lifted its stake in CenterPoint Energy by 29.3% in the first quarter. GAMMA Investing LLC now owns 14,818 shares of the utilities provider's stock valued at $537,000 after acquiring an additional 3,359 shares during the last quarter. SG Americas Securities LLC acquired a new stake in CenterPoint Energy in the first quarter valued at approximately $645,000. Wealth Enhancement Advisory Services LLC lifted its stake in CenterPoint Energy by 106.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 74,108 shares of the utilities provider's stock valued at $2,685,000 after acquiring an additional 38,292 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in CenterPoint Energy by 8.6% in the first quarter. Janney Montgomery Scott LLC now owns 80,229 shares of the utilities provider's stock valued at $2,907,000 after acquiring an additional 6,377 shares during the last quarter. Institutional investors and hedge funds own 91.77% of the company's stock.

Analyst Upgrades and Downgrades

CNP has been the subject of a number of analyst reports. Wall Street Zen cut shares of CenterPoint Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Evercore ISI initiated coverage on shares of CenterPoint Energy in a research note on Monday, October 6th. They issued an "in-line" rating and a $42.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of CenterPoint Energy from $39.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Barclays lifted their target price on shares of CenterPoint Energy from $39.00 to $40.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 7th. Finally, Mizuho lifted their target price on shares of CenterPoint Energy from $39.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, September 30th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, CenterPoint Energy currently has a consensus rating of "Hold" and an average target price of $40.45.

CenterPoint Energy Price Performance

Shares of CenterPoint Energy stock opened at $39.65 on Friday. The firm has a fifty day simple moving average of $38.39 and a 200-day simple moving average of $37.54. 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 1-year low of $28.57 and a 1-year high of $40.50. The stock has a market capitalization of $25.88 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 2.84 and a beta of 0.57.

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

CenterPoint Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 20th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, November 20th. CenterPoint Energy's payout ratio 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.

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