Magellan Asset Management Ltd Has $20.38 Million Position in CenterPoint Energy, Inc. $CNP

Magellan Asset Management Ltd lifted its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 19.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 525,149 shares of the utilities provider’s stock after buying an additional 84,220 shares during the period. Magellan Asset Management Ltd owned about 0.08% of CenterPoint Energy worth $20,376,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNP. Root Financial Partners LLC bought a new stake in shares of CenterPoint Energy in the 3rd quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of CenterPoint Energy in the third quarter valued at $26,000. LRI Investments LLC lifted its position in CenterPoint Energy by 107.9% in the third quarter. LRI Investments LLC now owns 684 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 355 shares during the period. First Horizon Corp bought a new position in CenterPoint Energy in the third quarter worth $30,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in CenterPoint Energy during the third quarter worth $30,000. 91.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CNP. Wells Fargo & Company raised their price objective on shares of CenterPoint Energy from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Mizuho set a $44.00 price target on shares of CenterPoint Energy in a research note on Monday. KeyCorp raised CenterPoint Energy from a “sector weight” rating to an “overweight” rating and set a $41.00 price objective on the stock in a report on Friday, December 12th. Barclays cut their target price on CenterPoint Energy from $41.00 to $38.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Finally, JPMorgan Chase & Co. lowered their price target on CenterPoint Energy from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, December 11th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $42.00.

CenterPoint Energy Stock Down 0.2%

Shares of CNP opened at $42.79 on Wednesday. The company has a market capitalization of $27.94 billion, a P/E ratio of 26.75, a PEG ratio of 2.55 and a beta of 0.59. CenterPoint Energy, Inc. has a one year low of $33.24 and a one year high of $43.20. The business’s 50 day simple moving average is $39.62 and its 200-day simple moving average is $39.04. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.91 and a quick ratio of 0.79.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.23 billion. CenterPoint Energy had a net margin of 11.24% and a return on equity of 10.46%. During the same period in the prior year, the business earned $0.40 earnings per share. CenterPoint Energy has set its FY 2026 guidance at 1.900- EPS. As a group, sell-side analysts predict that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 19th will be given a dividend of $0.23 per share. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, February 19th. This represents a $0.92 annualized dividend and a yield of 2.1%. CenterPoint Energy’s dividend payout ratio is currently 57.50%.

About CenterPoint Energy

CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.