Contravisory Investment Management Inc. Acquires New Holdings in CenterPoint Energy, Inc. $CNP

Contravisory Investment Management Inc. purchased a new stake in CenterPoint Energy, Inc. (NYSE:CNP) during the second quarter, according to its most recent filing with the SEC. The firm purchased 12,007 shares of the utilities provider’s stock, valued at approximately $441,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of CenterPoint Energy by 0.8% during the first quarter. Vanguard Group Inc. now owns 80,061,059 shares of the utilities provider’s stock valued at $2,900,612,000 after buying an additional 671,868 shares during the last quarter. Northern Trust Corp increased its stake in CenterPoint Energy by 0.9% during the 1st quarter. Northern Trust Corp now owns 5,934,611 shares of the utilities provider’s stock valued at $215,011,000 after purchasing an additional 54,596 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of CenterPoint Energy by 0.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,408,135 shares of the utilities provider’s stock valued at $195,938,000 after acquiring an additional 42,536 shares during the period. American Century Companies Inc. raised its stake in CenterPoint Energy by 50.2% in the 1st quarter. American Century Companies Inc. now owns 5,118,233 shares of the utilities provider’s stock worth $185,434,000 after acquiring an additional 1,709,682 shares during the last quarter. Finally, Reaves W H & Co. Inc. grew its stake in shares of CenterPoint Energy by 58.4% during the 1st quarter. Reaves W H & Co. Inc. now owns 4,385,632 shares of the utilities provider’s stock worth $158,891,000 after purchasing an additional 1,616,181 shares during the period. 91.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. BMO Capital Markets raised their price target on shares of CenterPoint Energy from $36.00 to $39.00 and gave the company a “market perform” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. boosted their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Morgan Stanley set a $38.00 price objective on CenterPoint Energy and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Barclays boosted their price target on CenterPoint Energy from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 29th. Finally, Scotiabank upped their target price on shares of CenterPoint Energy from $40.00 to $42.00 and gave the stock a “sector outperform” rating in a report on Friday, July 25th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $38.50.

CenterPoint Energy Trading Up 0.1%

Shares of CNP stock opened at $38.09 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.61 and a debt-to-equity ratio of 1.87. CenterPoint Energy, Inc. has a twelve month low of $27.92 and a twelve month high of $39.39. The company’s 50-day moving average price is $37.87 and its 200-day moving average price is $36.99. The stock has a market cap of $24.87 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 2.78 and a beta of 0.58.

CenterPoint Energy (NYSE:CNP) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the firm 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 predict that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

CenterPoint Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.88 annualized dividend and a yield of 2.3%. CenterPoint Energy’s dividend payout ratio (DPR) 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.