CenterPoint Energy, Inc. (NYSE:CNP) Stock Position Raised by MML Investors Services LLC

Posted by on Mar 4th, 2023

MML Investors Services LLC lifted its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP – Get Rating) by 67.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,921 shares of the utilities provider’s stock after acquiring an additional 14,817 shares during the quarter. MML Investors Services LLC’s holdings in CenterPoint Energy were worth $1,040,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CNP. Covestor Ltd boosted its stake in shares of CenterPoint Energy by 176.7% during the 1st quarter. Covestor Ltd now owns 891 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 569 shares in the last quarter. CoreCap Advisors LLC bought a new stake in shares of CenterPoint Energy during the 2nd quarter worth $29,000. Legacy CG LLC bought a new stake in shares of CenterPoint Energy during the 2nd quarter worth $36,000. Hanseatic Management Services Inc. lifted its holdings in shares of CenterPoint Energy by 74.6% in the third quarter. Hanseatic Management Services Inc. now owns 1,290 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 551 shares in the last quarter. Finally, Missouri Trust & Investment Co lifted its holdings in shares of CenterPoint Energy by 166.7% in the third quarter. Missouri Trust & Investment Co now owns 1,600 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 1,000 shares in the last quarter. 90.28% of the stock is owned by institutional investors.

CenterPoint Energy Price Performance

Shares of NYSE:CNP opened at $28.41 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.75 and a debt-to-equity ratio of 0.02. CenterPoint Energy, Inc. has a 1 year low of $25.03 and a 1 year high of $33.50. The business has a fifty day simple moving average of $29.68 and a 200 day simple moving average of $29.90. The firm has a market cap of $17.89 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 3.06 and a beta of 0.87.

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

CenterPoint Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 9th. Shareholders of record on Thursday, February 16th will be issued a dividend of $0.19 per share. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 2.68%. The ex-dividend date is Wednesday, February 15th. CenterPoint Energy’s dividend payout ratio (DPR) is 47.80%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CNP. Guggenheim lowered CenterPoint Energy from a “buy” rating to a “neutral” rating and increased their target price for the company from $31.00 to $32.00 in a report on Monday, January 23rd. Wells Fargo & Company increased their target price on CenterPoint Energy to $35.00 in a report on Wednesday, December 14th. Morgan Stanley reduced their target price on CenterPoint Energy from $31.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, February 22nd. Finally, StockNews.com lowered CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Tuesday. One research 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.75.

About CenterPoint Energy

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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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