Twin Tree Management LP Decreases Holdings in CenterPoint Energy, Inc. $CNP

Key Points

• Twin Tree Management LP significantly reduced its holdings in CenterPoint Energy by 89.5% during the 2nd quarter, now owning only 15,339 shares valued at $564,000.
• Several hedge funds have increased their positions in CenterPoint Energy, with Sagespring Wealth Partners raising its holdings by 31.3%, and Yousif Capital Management growing its holdings by 24.8%.
• CenterPoint Energy reported a loss of $0.15 per share compared to analysts' estimates, and will pay a quarterly dividend of $0.22 on December 11th, representing a 2.2% yield.

Twin Tree Management LP trimmed its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 89.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,339 shares of the utilities provider's stock after selling 130,861 shares during the quarter. Twin Tree Management LP's holdings in CenterPoint Energy were worth $564,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Sagespring Wealth Partners LLC raised its position in shares of CenterPoint Energy by 31.3% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 10,042 shares of the utilities provider's stock valued at $369,000 after buying an additional 2,396 shares in the last quarter. Axxcess Wealth Management LLC purchased a new stake in shares of CenterPoint Energy during the 2nd quarter valued at about $1,308,000. Sequoia Financial Advisors LLC grew its holdings in CenterPoint Energy by 49.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,724 shares of the utilities provider's stock valued at $357,000 after purchasing an additional 3,226 shares during the last quarter. Yousif Capital Management LLC grew its holdings in CenterPoint Energy by 24.8% during the 2nd quarter. Yousif Capital Management LLC now owns 106,541 shares of the utilities provider's stock valued at $3,914,000 after purchasing an additional 21,159 shares during the last quarter. Finally, Board of the Pension Protection Fund bought a new position in CenterPoint Energy during the 2nd quarter valued at about $937,000. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

CenterPoint Energy Price Performance

Shares of CNP stock opened at $39.65 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 company has a market capitalization of $25.88 billion, a P/E ratio of 27.72, a P/E/G ratio of 2.84 and a beta of 0.57. The company's 50-day simple moving average is $38.39 and its two-hundred day simple moving average is $37.54. CenterPoint Energy, Inc. has a one year low of $28.57 and a one year high of $40.50.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its earnings results on Thursday, July 24th. The utilities provider reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.15). The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $2.20 billion. CenterPoint Energy had a return on equity of 9.16% and a net margin of 10.42%.During the same quarter in the prior year, the company earned $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. As a group, equities analysts anticipate that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

CenterPoint Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders 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 yield of 2.2%. The ex-dividend date is Thursday, November 20th. CenterPoint Energy's dividend payout ratio is currently 61.54%.

Analysts Set New Price Targets

CNP has been the topic of several analyst reports. Mizuho upped their price target on shares of CenterPoint Energy from $39.00 to $40.00 and gave the company a "neutral" rating in a report on Tuesday, September 30th. Wall Street Zen downgraded shares of CenterPoint Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. BMO Capital Markets upped their price target on shares of CenterPoint Energy from $39.00 to $41.00 and gave the company a "market perform" rating in a report on Thursday, October 2nd. JPMorgan Chase & Co. upped their price target on shares of CenterPoint Energy from $39.00 to $40.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Finally, UBS Group upped their price target on shares of CenterPoint Energy from $44.00 to $46.00 and gave the company a "buy" rating in a report on Friday, October 10th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $40.45.

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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