Kestra Advisory Services LLC Sells 1,704 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Kestra Advisory Services LLC lowered its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNPGet Rating) by 6.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 23,827 shares of the utilities provider’s stock after selling 1,704 shares during the quarter. Kestra Advisory Services LLC’s holdings in CenterPoint Energy were worth $730,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CNP. BlackRock Inc. boosted its position in CenterPoint Energy by 12.0% during the 4th quarter. BlackRock Inc. now owns 62,536,247 shares of the utilities provider’s stock valued at $1,745,384,000 after buying an additional 6,679,825 shares during the period. JPMorgan Chase & Co. boosted its position in CenterPoint Energy by 32.6% during the 4th quarter. JPMorgan Chase & Co. now owns 20,235,985 shares of the utilities provider’s stock valued at $564,785,000 after buying an additional 4,973,550 shares during the period. abrdn plc boosted its position in CenterPoint Energy by 1,196.3% during the 4th quarter. abrdn plc now owns 4,655,257 shares of the utilities provider’s stock valued at $129,928,000 after buying an additional 4,296,140 shares during the period. Deutsche Bank AG boosted its position in CenterPoint Energy by 44.1% during the 4th quarter. Deutsche Bank AG now owns 10,384,446 shares of the utilities provider’s stock valued at $289,831,000 after buying an additional 3,175,721 shares during the period. Finally, Jennison Associates LLC boosted its position in CenterPoint Energy by 29.3% during the 4th quarter. Jennison Associates LLC now owns 8,058,577 shares of the utilities provider’s stock valued at $224,915,000 after buying an additional 1,825,490 shares during the period. Hedge funds and other institutional investors own 90.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CNP shares. Barclays dropped their price target on shares of CenterPoint Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday. Credit Suisse Group began coverage on shares of CenterPoint Energy in a research report on Monday, April 25th. They issued an “outperform” rating and a $34.00 target price for the company. KeyCorp dropped their target price on shares of CenterPoint Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday. StockNews.com raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. Finally, Wells Fargo & Company raised their target price on shares of CenterPoint Energy from $31.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 19th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, CenterPoint Energy has a consensus rating of “Moderate Buy” and an average price target of $31.08.

CenterPoint Energy Trading Up 0.6 %

Shares of NYSE CNP opened at $29.75 on Wednesday. CenterPoint Energy, Inc. has a 1 year low of $24.33 and a 1 year high of $33.00. The stock has a market cap of $18.73 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 5.52 and a beta of 0.87. The firm has a 50-day moving average of $30.01 and a 200 day moving average of $29.43. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.80.

CenterPoint Energy (NYSE:CNPGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The utilities provider reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.55 billion. CenterPoint Energy had a net margin of 19.30% and a return on equity of 12.10%. During the same quarter in the prior year, the business posted $0.59 earnings per share. As a group, sell-side analysts expect that CenterPoint Energy, Inc. will post 1.38 EPS for the current fiscal year.

CenterPoint Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 9th. Shareholders of record on Thursday, May 19th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $0.68 dividend on an annualized basis and a yield of 2.29%. CenterPoint Energy’s dividend payout ratio is currently 26.98%.

CenterPoint Energy Company Profile

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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 assets in the wholesale power market.

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

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