CenterPoint Energy, Inc. (NYSE:CNP) Shares Purchased by Kestra Advisory Services LLC

Posted by on Apr 25th, 2023

Kestra Advisory Services LLC increased its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP – Get Rating) by 9.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,832 shares of the utilities provider’s stock after acquiring an additional 2,548 shares during the quarter. Kestra Advisory Services LLC’s holdings in CenterPoint Energy were worth $895,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in CenterPoint Energy by 8.5% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 416,071 shares of the utilities provider’s stock worth $11,725,000 after buying an additional 32,603 shares during the last quarter. California Public Employees Retirement System boosted its stake in CenterPoint Energy by 30.2% during the 3rd quarter. California Public Employees Retirement System now owns 1,436,671 shares of the utilities provider’s stock worth $40,485,000 after purchasing an additional 333,476 shares during the period. NuWave Investment Management LLC acquired a new stake in CenterPoint Energy during the 3rd quarter worth $85,000. Rockefeller Capital Management L.P. boosted its stake in CenterPoint Energy by 7.4% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 6,659 shares of the utilities provider’s stock worth $187,000 after purchasing an additional 456 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in CenterPoint Energy by 12.9% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 2,788,024 shares of the utilities provider’s stock worth $78,567,000 after purchasing an additional 318,562 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.

CenterPoint Energy Trading Up 0.9 %

Shares of CNP opened at $30.81 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.92 and a quick ratio of 0.75. The firm has a 50 day simple moving average of $29.16 and a 200-day simple moving average of $29.35. CenterPoint Energy, Inc. has a 1-year low of $25.03 and a 1-year high of $33.50. The stock has a market cap of $19.44 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 2.76 and a beta of 0.88.

CenterPoint Energy (NYSE:CNP – Get Rating) last issued its quarterly earnings data on Friday, February 17th. The utilities provider reported $0.28 earnings per share 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 analysts’ expectations of $2.29 billion. CenterPoint Energy had a return on equity of 9.88% and a net margin of 11.21%. During the same period last year, the business earned $0.36 earnings per share. Equities analysts forecast that CenterPoint Energy, Inc. will post 1.49 EPS for the current fiscal year.

CenterPoint Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 8th. Investors of record on Thursday, May 18th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Wednesday, May 17th. CenterPoint Energy’s payout ratio is 47.80%.

Wall Street Analysts Forecast Growth

Several analysts have commented on CNP shares. StockNews.com raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Thursday, April 20th. Morgan Stanley upped their price objective on CenterPoint Energy from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 20th. Bank of America boosted their price objective on shares of CenterPoint Energy from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, April 14th. Guggenheim cut shares of CenterPoint Energy from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $31.00 to $32.00 in a research note on Monday, January 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $33.00 price objective on shares of CenterPoint Energy in a research note on Monday, March 6th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, CenterPoint Energy presently has an average rating of “Moderate Buy” and an average target price of $32.89.

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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