Diversified Trust Co Invests $329,000 in CenterPoint Energy, Inc. (NYSE:CNP)

Posted by Defense World Staff on Oct 2nd, 2023

Diversified Trust Co purchased a new stake in CenterPoint Energy, Inc. (NYSE:CNP – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 11,280 shares of the utilities provider’s stock, valued at approximately $329,000.

Several other large investors also recently made changes to their positions in CNP. Securian Asset Management Inc. increased its stake in shares of CenterPoint Energy by 0.6% in the 1st quarter. Securian Asset Management Inc. now owns 52,022 shares of the utilities provider’s stock valued at $1,533,000 after purchasing an additional 333 shares during the last quarter. AdvisorNet Financial Inc grew its holdings in shares of CenterPoint Energy by 3.3% in the first quarter. AdvisorNet Financial Inc now owns 11,019 shares of the utilities provider’s stock valued at $325,000 after acquiring an additional 349 shares in the last quarter. Bogart Wealth LLC grew its holdings in CenterPoint Energy by 44.9% during the first quarter. Bogart Wealth LLC now owns 1,152 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 357 shares during the period. Advisor Partners II LLC raised its position in shares of CenterPoint Energy by 1.2% in the first quarter. Advisor Partners II LLC now owns 29,370 shares of the utilities provider’s stock worth $865,000 after buying an additional 357 shares in the last quarter. Finally, Signaturefd LLC raised its position in CenterPoint Energy by 8.4% during the first quarter. Signaturefd LLC now owns 5,084 shares of the utilities provider’s stock valued at $150,000 after purchasing an additional 393 shares in the last quarter. Institutional investors own 88.96% of the company’s stock.

CenterPoint Energy Stock Performance

CNP stock opened at $26.85 on Monday. CenterPoint Energy, Inc. has a fifty-two week low of $25.03 and a fifty-two week high of $31.52. The company has a quick ratio of 0.65, a current ratio of 0.88 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $16.95 billion, a P/E ratio of 23.35, a PEG ratio of 2.40 and a beta of 0.89. The company has a 50-day simple moving average of $28.59 and a 200 day simple moving average of $29.17.

CenterPoint Energy (NYSE:CNP – Get Free Report) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate 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. 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 16th will be issued a dividend of $0.20 per share. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 2.98%. The ex-dividend date is Wednesday, November 15th. CenterPoint Energy’s payout ratio is currently 66.09%.

Analysts Set New Price Targets

CNP has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of CenterPoint Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, August 17th. Barclays initiated coverage on shares of CenterPoint Energy in a report on Wednesday, August 23rd. They issued an “underweight” rating and a $28.00 price target for the company. Royal Bank of Canada decreased their price objective on shares of CenterPoint Energy from $34.00 to $33.00 and set an “outperform” rating for the company in a research note on Wednesday, September 6th. Morgan Stanley cut their price objective on shares of CenterPoint Energy from $30.00 to $29.00 and set an “overweight” rating on the stock in a report on Wednesday, August 23rd. Finally, UBS Group downgraded shares of CenterPoint Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $33.00 to $30.00 in a research note on Tuesday, June 6th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.10.

View Our Latest Stock Report on CenterPoint Energy

CenterPoint Energy 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.