Truist Financial Corp Sells 9,350 Shares of CenterPoint Energy, Inc. $CNP

Key Points

• Truist Financial Corp has reduced its stake in CenterPoint Energy by 12.4%, selling 9,350 shares, leaving it with 65,939 shares valued at approximately $2.4 million.
• CenterPoint Energy reported earnings of $0.29 per share for the last quarter, missing expectations, and has set its FY 2025 guidance at 1.740-1.760 EPS.
• The company declared a quarterly dividend of $0.22 per share, payable on December 11th, representing an annualized yield of 2.2%.

Truist Financial Corp lowered its position in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 12.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 65,939 shares of the utilities provider's stock after selling 9,350 shares during the period. Truist Financial Corp's holdings in CenterPoint Energy were worth $2,423,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. N.E.W. Advisory Services LLC bought a new position in CenterPoint Energy in the first quarter worth approximately $25,000. ST Germain D J Co. Inc. bought a new position in CenterPoint Energy in the second quarter worth approximately $26,000. Smallwood Wealth Investment Management LLC bought a new position in CenterPoint Energy in the first quarter worth approximately $27,000. Motco boosted its holdings in CenterPoint Energy by 107.8% in the first quarter. Motco now owns 1,039 shares of the utilities provider's stock worth $38,000 after acquiring an additional 539 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in CenterPoint Energy by 472.8% in the first quarter. Golden State Wealth Management LLC now owns 1,220 shares of the utilities provider's stock worth $44,000 after acquiring an additional 1,007 shares in the last quarter. Institutional investors own 91.77% of the company's stock.

CenterPoint Energy Stock Performance

NYSE:CNP opened at $39.12 on Friday. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.79 and a quick ratio of 0.61. The business has a fifty day simple moving average of $38.31 and a two-hundred day simple moving average of $37.39. CenterPoint Energy, Inc. has a 1 year low of $28.57 and a 1 year high of $40.50. The company has a market capitalization of $25.54 billion, a P/E ratio of 27.36, a P/E/G ratio of 2.79 and a beta of 0.57.

CenterPoint Energy (NYSE:CNP - Get Free Report) last announced its quarterly 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 company 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 firm posted $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. On average, analysts expect that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

CenterPoint Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 20th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.88 annualized dividend and a yield of 2.2%. CenterPoint Energy's dividend payout ratio (DPR) is currently 61.54%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CNP. Weiss Ratings restated a "buy (b-)" rating on shares of CenterPoint Energy in a report on Wednesday. Wall Street Zen lowered CenterPoint Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Morgan Stanley dropped their target price on CenterPoint Energy from $38.00 to $37.00 and set an "equal weight" rating on the stock in a report on Thursday, September 25th. BMO Capital Markets raised their target price on CenterPoint Energy from $39.00 to $41.00 and gave the company a "market perform" rating in a report on Thursday, October 2nd. Finally, Evercore ISI began coverage on CenterPoint Energy in a report on Monday. They issued an "in-line" rating and a $42.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, CenterPoint Energy presently has a consensus rating of "Hold" and an average price target of $38.86.

CenterPoint Energy Company 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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