Commonwealth Equity Services LLC Sells 2,165 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Posted by Defense World Staff on Sep 6th, 2023

Commonwealth Equity Services LLC lessened its stake in CenterPoint Energy, Inc. (NYSE:CNP – Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,948 shares of the utilities provider’s stock after selling 2,165 shares during the period. Commonwealth Equity Services LLC’s holdings in CenterPoint Energy were worth $2,649,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Pinebridge Investments L.P. acquired a new position in shares of CenterPoint Energy during the fourth quarter valued at $25,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of CenterPoint Energy by 127.9% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 891 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 500 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of CenterPoint Energy in the 1st quarter valued at about $26,000. CENTRAL TRUST Co raised its stake in shares of CenterPoint Energy by 137.5% during the third quarter. CENTRAL TRUST Co now owns 950 shares of the utilities provider’s stock worth $27,000 after buying an additional 550 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in CenterPoint Energy by 176.7% in the first quarter. Covestor Ltd now owns 891 shares of the utilities provider’s stock valued at $27,000 after buying an additional 569 shares during the period. Institutional investors and hedge funds own 88.96% of the company’s stock.

CenterPoint Energy Stock Down 1.2 %

CenterPoint Energy stock opened at $27.33 on Wednesday. The company has a 50 day moving average of $29.19 and a 200-day moving average of $29.21. The company has a quick ratio of 0.65, a current ratio of 0.88 and a debt-to-equity ratio of 1.67. CenterPoint Energy, Inc. has a twelve month low of $25.03 and a twelve month high of $33.50. The stock has a market capitalization of $17.25 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 2.47 and a beta of 0.89.

CenterPoint Energy (NYSE:CNP – Get Free Report) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.92 billion. CenterPoint Energy had a return on equity of 9.71% and a net margin of 8.28%. During the same quarter in the prior year, the company earned $0.31 EPS. On average, equities research analysts anticipate that CenterPoint Energy, Inc. will post 1.49 EPS for the current fiscal year.

CenterPoint Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 17th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Wednesday, August 16th. CenterPoint Energy’s dividend payout ratio (DPR) is currently 66.09%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CNP. UBS Group cut shares of CenterPoint Energy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $33.00 to $30.00 in a research report on Tuesday, June 6th. They noted that the move was a valuation call. Barclays assumed coverage on CenterPoint Energy in a research note on Wednesday, August 23rd. They issued an “underweight” rating and a $28.00 target price on the stock. StockNews.com started coverage on CenterPoint Energy in a research report on Thursday, August 17th. They set a “hold” rating for the company. Guggenheim increased their price target on shares of CenterPoint Energy from $32.00 to $33.00 in a research report on Friday, July 7th. Finally, Morgan Stanley decreased their price objective on shares of CenterPoint Energy from $30.00 to $29.00 and set an “overweight” rating for the company in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, CenterPoint Energy has an average rating of “Moderate Buy” and an average target price of $32.10.

Get Our Latest Report on CNP

CenterPoint Energy Company Profile

(Free Report)

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. 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.