QRG Capital Management Inc. Grows Position in CenterPoint Energy, Inc. $CNP

Key Points

• QRG Capital Management increased its CenterPoint Energy stake by 1,055.5% in the second quarter, owning 132,656 shares valued at approximately $6.3 million. Institutional investors collectively hold 91.77% of CNP’s stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $44.93, despite several firms recently lowering their targets.
• CenterPoint exceeded quarterly earnings expectations, reporting $0.40 in EPS versus $0.37 expected, and raised its quarterly dividend to $0.24 per share, or $0.96 annually, yielding about 2.6%.

QRG Capital Management Inc. boosted its holdings in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 1,055.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,656 shares of the utilities provider's stock after purchasing an additional 121,176 shares during the quarter. QRG Capital Management Inc.'s holdings in CenterPoint Energy were worth $6,335,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Hsbc Holdings PLC bought a new stake in shares of CenterPoint Energy in the second quarter valued at approximately $49,316,000. Capital Research Global Investors increased its stake in CenterPoint Energy by 1.1% during the 4th quarter. Capital Research Global Investors now owns 20,941,909 shares of the utilities provider's stock worth $802,916,000 after acquiring an additional 235,346 shares during the period. Kayne Anderson Capital Advisors LP bought a new position in CenterPoint Energy during the 2nd quarter worth $56,492,000. Ilmarinen Mutual Pension Insurance Co acquired a new position in CenterPoint Energy in the 4th quarter valued at $3,834,000. Finally, Stack Financial Management Inc acquired a new position in CenterPoint Energy in the 2nd quarter valued at $31,624,000. Institutional investors own 91.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CNP. Wall Street Zen upgraded CenterPoint Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Royal Bank Of Canada initiated coverage on shares of CenterPoint Energy in a report on Tuesday, September 15th. They issued a "sector perform" rating and a $40.00 target price on the stock. Morgan Stanley dropped their target price on shares of CenterPoint Energy from $39.00 to $38.00 and set an "equal weight" rating for the company in a research report on Friday, September 18th. BMO Capital Markets cut their price target on shares of CenterPoint Energy from $48.00 to $47.00 and set an "outperform" rating for the company in a report on Wednesday, July 22nd. Finally, Truist Financial reduced their price target on shares of CenterPoint Energy from $48.00 to $46.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $44.93.

CenterPoint Energy Stock Performance

CenterPoint Energy stock opened at $36.82 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.12 and a debt-to-equity ratio of 1.95. The stock has a market cap of $24.26 billion, a PE ratio of 21.66, a P/E/G ratio of 2.50 and a beta of 0.46. CenterPoint Energy, Inc. has a 12-month low of $36.72 and a 12-month high of $45.26. The business's 50-day moving average price is $40.37 and its two-hundred day moving average price is $42.07.

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

CenterPoint Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th were given a $0.24 dividend. This is an increase from CenterPoint Energy's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Thursday, August 20th. CenterPoint Energy's dividend payout ratio (DPR) is 56.47%.

CenterPoint Energy Profile

CenterPoint Energy, Inc NYSE: CNP is an energy delivery company headquartered in Houston, Texas. Its primary businesses include electric transmission and distribution and natural gas distribution, with operations focused on delivering energy to residential, commercial and industrial customers rather than producing most of the energy it supplies.

CenterPoint operates electric utility infrastructure in the Houston metropolitan area and in southwestern Indiana. The company also provides natural gas distribution services in Indiana, Louisiana, Mississippi and Ohio.

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