Wellington Management Group LLP Reduces Stock Holdings in CenterPoint Energy, Inc. $CNP

Wellington Management Group LLP trimmed its position in CenterPoint Energy, Inc. (NYSE:CNP) by 100.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,082 shares of the utilities provider’s stock after selling 22,664,413 shares during the period. Wellington Management Group LLP’s holdings in CenterPoint Energy were worth $365,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its stake in shares of CenterPoint Energy by 8.6% in the first quarter. Janney Montgomery Scott LLC now owns 80,229 shares of the utilities provider’s stock worth $2,907,000 after buying an additional 6,377 shares during the period. QRG Capital Management Inc. raised its stake in shares of CenterPoint Energy by 8.8% in the first quarter. QRG Capital Management Inc. now owns 19,913 shares of the utilities provider’s stock worth $721,000 after buying an additional 1,615 shares during the period. Principal Financial Group Inc. raised its stake in shares of CenterPoint Energy by 3.1% in the first quarter. Principal Financial Group Inc. now owns 864,175 shares of the utilities provider’s stock worth $31,309,000 after buying an additional 26,153 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of CenterPoint Energy by 32.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,314,131 shares of the utilities provider’s stock worth $73,427,000 after buying an additional 569,389 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of CenterPoint Energy by 5.6% in the first quarter. Nisa Investment Advisors LLC now owns 166,743 shares of the utilities provider’s stock worth $6,041,000 after buying an additional 8,914 shares during the period. Institutional investors own 91.77% of the company’s stock.

Wall Street Analyst Weigh In

CNP has been the topic of several recent research reports. Barclays raised their price objective on CenterPoint Energy from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 29th. BMO Capital Markets raised their price objective on CenterPoint Energy from $36.00 to $39.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 22nd. Wall Street Zen downgraded CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. JPMorgan Chase & Co. lifted their target price on CenterPoint Energy from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Finally, Scotiabank lifted their target price on CenterPoint Energy from $40.00 to $42.00 and gave the company a “sector outperform” rating in a research note on Friday, July 25th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $37.71.

CenterPoint Energy Stock Up 0.6%

Shares of CNP opened at $37.72 on Tuesday. The stock has a market capitalization of $24.63 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 2.76 and a beta of 0.58. CenterPoint Energy, Inc. has a 1 year low of $26.32 and a 1 year high of $39.39. The business’s 50 day simple moving average is $37.44 and its 200-day simple moving average is $36.68. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.79 and a quick ratio of 0.61.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Thursday, July 24th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.15). The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $2.20 billion. CenterPoint Energy had a return on equity of 9.16% and a net margin of 10.42%.During the same period last year, the company earned $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. As a group, equities analysts expect that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

CenterPoint Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, August 21st. CenterPoint Energy’s dividend payout ratio is 61.54%.

About CenterPoint Energy

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