Zurich Insurance Group Ltd FI Acquires Shares of 613,957 CenterPoint Energy, Inc. $CNP

Key Points

• Zurich Insurance Group Ltd FI acquired 613,957 shares of CenterPoint Energy, valued at approximately $22.24 million, representing a 0.09% ownership in the company.
• CenterPoint Energy reported a miss in quarterly earnings with an EPS of $0.29, falling short of analyst estimates of $0.44, and posted revenues of $1.94 billion, below the expected $2.20 billion.
• The company announced a quarterly dividend of $0.22, giving an annualized yield of 2.3%, with the ex-dividend date set for August 21.

Zurich Insurance Group Ltd FI bought a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 613,957 shares of the utilities provider's stock, valued at approximately $22,244,000. Zurich Insurance Group Ltd FI owned 0.09% of CenterPoint Energy as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Curat Global LLC bought a new stake in CenterPoint Energy during the 1st quarter valued at $25,000. N.E.W. Advisory Services LLC purchased a new position in shares of CenterPoint Energy in the first quarter valued at $25,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of CenterPoint Energy in the first quarter valued at $27,000. CoreCap Advisors LLC raised its stake in shares of CenterPoint Energy by 58.9% during the 4th quarter. CoreCap Advisors LLC now owns 1,079 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 400 shares during the period. Finally, Harbor Investment Advisory LLC lifted its holdings in CenterPoint Energy by 201.5% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,034 shares of the utilities provider's stock worth $37,000 after purchasing an additional 691 shares in the last quarter. Institutional investors own 91.77% of the company's stock.

CenterPoint Energy Trading Up 0.6%

Shares of CNP opened at $37.55 on Wednesday. The firm's 50 day simple moving average is $37.57 and its 200 day simple moving average is $36.82. The company has a market capitalization of $24.51 billion, a P/E ratio of 26.26, a P/E/G ratio of 2.73 and a beta of 0.58. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.79 and a quick ratio of 0.61. CenterPoint Energy, Inc. has a 1-year low of $26.32 and a 1-year high of $39.39.

CenterPoint Energy (NYSE:CNP - Get Free Report) last released its quarterly 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 analysts' expectations of $2.20 billion. CenterPoint Energy had a return on equity of 9.16% and a net margin of 10.42%.During the same period in the prior year, the firm earned $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. Sell-side analysts forecast that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal 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 $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 21st. CenterPoint Energy's dividend payout ratio is currently 61.54%.

Wall Street Analyst Weigh In

CNP has been the subject of several analyst reports. Morgan Stanley set a $38.00 target price on CenterPoint Energy and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Wall Street Zen lowered shares of CenterPoint Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Mizuho set a $39.00 price objective on shares of CenterPoint Energy and gave the company a "neutral" rating in a research note on Friday, July 25th. Scotiabank upped their target price on shares of CenterPoint Energy from $40.00 to $42.00 and gave the stock a "sector outperform" rating in a report on Friday, July 25th. Finally, Barclays raised their price target on shares of CenterPoint Energy from $38.00 to $39.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, CenterPoint Energy has a consensus rating of "Hold" and an average target price of $37.71.

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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