Vestmark Advisory Solutions Inc. Boosts Stock Position in CenterPoint Energy, Inc. $CNP

Key Points

• Vestmark Advisory Solutions Inc. increased its holdings in CenterPoint Energy by 111.2% in the first quarter, bringing its total shares to 13,774 valued at approximately $499,000.
• A range of analysts have adjusted their price targets for CenterPoint Energy, with Evercore ISI raising it to $41.00, while Morgan Stanley decreased it to $34.00.
• The company reported earnings of $0.29 per share for the last quarter, falling short of the consensus estimate of $0.44, alongside revenue of $1.94 billion, below the expected $2.20 billion.

Vestmark Advisory Solutions Inc. grew its position in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 111.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,774 shares of the utilities provider's stock after acquiring an additional 7,251 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in CenterPoint Energy were worth $499,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of CenterPoint Energy by 0.8% during the first quarter. Vanguard Group Inc. now owns 80,061,059 shares of the utilities provider's stock worth $2,900,612,000 after purchasing an additional 671,868 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in CenterPoint Energy by 4.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 46,645,434 shares of the utilities provider's stock valued at $1,480,060,000 after buying an additional 1,922,169 shares during the last quarter. Northern Trust Corp grew its stake in CenterPoint Energy by 7.9% in the 4th quarter. Northern Trust Corp now owns 5,880,015 shares of the utilities provider's stock valued at $186,573,000 after buying an additional 431,260 shares during the last quarter. BROOKFIELD Corp ON bought a new position in shares of CenterPoint Energy during the fourth quarter worth approximately $164,350,000. Finally, Reaves W H & Co. Inc. increased its holdings in shares of CenterPoint Energy by 58.4% during the first quarter. Reaves W H & Co. Inc. now owns 4,385,632 shares of the utilities provider's stock worth $158,891,000 after purchasing an additional 1,616,181 shares during the period. Institutional investors and hedge funds own 91.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CNP shares. JPMorgan Chase & Co. lifted their price target on shares of CenterPoint Energy from $39.00 to $40.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Scotiabank boosted their target price on shares of CenterPoint Energy from $40.00 to $42.00 and gave the company a "sector outperform" rating in a research note on Friday, July 25th. Barclays upped their target price on shares of CenterPoint Energy from $38.00 to $39.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Morgan Stanley cut their price objective on shares of CenterPoint Energy from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Thursday, May 22nd. Finally, BMO Capital Markets increased their price target on shares of CenterPoint Energy from $36.00 to $39.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $37.38.

CenterPoint Energy Stock Performance

CNP stock traded down $0.0360 during trading on Friday, reaching $37.9640. The company had a trading volume of 3,578,682 shares, compared to its average volume of 5,246,867. CenterPoint Energy, Inc. has a twelve month low of $26.32 and a twelve month high of $39.39. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.61 and a current ratio of 0.79. The company has a market cap of $24.79 billion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 2.82 and a beta of 0.58. The firm has a 50-day simple moving average of $37.18 and a 200-day simple moving average of $36.38.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The utilities provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.15). CenterPoint Energy had a return on equity of 9.16% and a net margin of 10.42%.The company had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $2.20 billion. During the same period in the previous year, the firm posted $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, August 21st. CenterPoint Energy's dividend 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.