Aviva PLC Sells 74,823 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Posted by on Mar 1st, 2023

Aviva PLC lowered its position in CenterPoint Energy, Inc. (NYSE:CNP – Get Rating) by 88.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,578 shares of the utilities provider’s stock after selling 74,823 shares during the period. Aviva PLC’s holdings in CenterPoint Energy were worth $270,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CNP. Deutsche Bank AG boosted its stake in shares of CenterPoint Energy by 32.9% in the 2nd quarter. Deutsche Bank AG now owns 19,775,849 shares of the utilities provider’s stock worth $584,971,000 after buying an additional 4,899,990 shares during the last quarter. Invesco Ltd. boosted its stake in shares of CenterPoint Energy by 68.2% in the 1st quarter. Invesco Ltd. now owns 7,638,179 shares of the utilities provider’s stock worth $234,036,000 after buying an additional 3,096,455 shares during the last quarter. State Street Corp boosted its stake in shares of CenterPoint Energy by 10.0% in the 1st quarter. State Street Corp now owns 33,279,592 shares of the utilities provider’s stock worth $1,019,687,000 after buying an additional 3,035,409 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of CenterPoint Energy by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 73,506,201 shares of the utilities provider’s stock worth $2,252,230,000 after buying an additional 1,502,900 shares during the last quarter. Finally, Pictet Asset Management SA boosted its stake in shares of CenterPoint Energy by 19.2% in the 3rd quarter. Pictet Asset Management SA now owns 9,068,600 shares of the utilities provider’s stock worth $255,553,000 after buying an additional 1,461,593 shares during the last quarter. Institutional investors own 90.28% of the company’s stock.

CenterPoint Energy Price Performance

NYSE:CNP opened at $27.82 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.92 and a debt-to-equity ratio of 0.02. The business’s 50-day simple moving average is $29.83 and its two-hundred day simple moving average is $29.96. The stock has a market cap of $17.52 billion, a PE ratio of 17.50, a P/E/G ratio of 3.20 and a beta of 0.86. CenterPoint Energy, Inc. has a 52 week low of $25.03 and a 52 week high of $33.50.

CenterPoint Energy (NYSE:CNP – Get Rating) last posted its quarterly earnings results on Friday, February 17th. The utilities provider reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.29 billion. CenterPoint Energy had a net margin of 11.21% and a return on equity of 9.88%. During the same period in the prior year, the business earned $0.36 earnings per share. As a group, analysts forecast that CenterPoint Energy, Inc. will post 1.49 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 9th. Stockholders of record on Thursday, February 16th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.73%. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Wednesday, February 15th. CenterPoint Energy’s payout ratio is 47.80%.

Analyst Ratings Changes

A number of equities analysts recently commented on CNP shares. Guggenheim cut CenterPoint Energy from a “buy” rating to a “neutral” rating and raised their target price for the stock from $31.00 to $32.00 in a report on Monday, January 23rd. StockNews.com cut CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Tuesday. Morgan Stanley decreased their target price on CenterPoint Energy from $31.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, February 22nd. Finally, Wells Fargo & Company raised their target price on CenterPoint Energy to $35.00 in a report on Wednesday, December 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, CenterPoint Energy currently has an average rating of “Moderate Buy” and an average price target of $32.75.

CenterPoint Energy Profile

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CenterPoint Energy, Inc is a holding company, which engages in the business of power generation and distribution. It operates through the following segments: CenterPoint Energy, Houston Electric, and CERC. The CenterPoint Energy segment consists of electric transmission and distribution services in the Texas gulf coast area in the ERCOT region and electric transmission and distribution services primarily to southwestern Indiana and includes power generation and wholesale power operations in the MISO region.

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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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