CenterPoint Energy, Inc. $CNP Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp boosted its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 1.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,180 shares of the utilities provider’s stock after purchasing an additional 342 shares during the quarter. Fifth Third Bancorp’s holdings in CenterPoint Energy were worth $778,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CNP. Curat Global LLC acquired a new position in CenterPoint Energy during the 1st quarter valued at approximately $25,000. N.E.W. Advisory Services LLC acquired a new position in CenterPoint Energy during the 1st quarter valued at approximately $25,000. Smallwood Wealth Investment Management LLC acquired a new position in CenterPoint Energy during the 1st quarter valued at approximately $27,000. Harbor Investment Advisory LLC boosted its position in CenterPoint Energy by 201.5% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,034 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 691 shares during the period. Finally, Motco boosted its position in CenterPoint Energy by 107.8% during the 1st quarter. Motco now owns 1,039 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 539 shares during the period. Institutional investors and hedge funds own 91.77% of the company’s stock.

Wall Street Analyst Weigh In

CNP has been the subject of a number of analyst reports. Barclays boosted their price objective on CenterPoint Energy from $38.00 to $39.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 29th. Morgan Stanley cut their target price on CenterPoint Energy from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Thursday. Wall Street Zen downgraded CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Mizuho set a $39.00 target price on CenterPoint Energy and gave the company a “neutral” rating in a research note on Friday, July 25th. Finally, 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. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $38.41.

CenterPoint Energy Stock Up 1.4%

CNP opened at $38.84 on Monday. CenterPoint Energy, Inc. has a one year low of $28.57 and a one year high of $39.39. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.61 and a current ratio of 0.79. The stock’s fifty day moving average is $38.12 and its 200-day moving average is $37.21. The company has a market capitalization of $25.35 billion, a PE ratio of 27.16, a P/E/G ratio of 2.84 and a beta of 0.58.

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

CenterPoint Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 20th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. CenterPoint Energy’s payout ratio is 61.54%.

CenterPoint Energy Profile

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.