Hennessy Advisors Inc. Sells 16,900 Shares of CenterPoint Energy, Inc. $CNP

Hennessy Advisors Inc. lessened its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 4.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 405,328 shares of the utilities provider’s stock after selling 16,900 shares during the period. Hennessy Advisors Inc.’s holdings in CenterPoint Energy were worth $14,892,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Curat Global LLC bought a new position in shares of CenterPoint Energy in the first quarter worth about $25,000. N.E.W. Advisory Services LLC bought a new position in shares of CenterPoint Energy in the first quarter worth about $25,000. ST Germain D J Co. Inc. bought a new position in shares of CenterPoint Energy in the second quarter worth about $26,000. Smallwood Wealth Investment Management LLC bought a new position in shares of CenterPoint Energy in the first quarter worth about $27,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of CenterPoint Energy in the second quarter worth about $33,000. Institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Stock Performance

NYSE CNP opened at $38.82 on Friday. The stock has a 50-day simple moving average of $38.22 and a two-hundred day simple moving average of $37.29. The firm has a market capitalization of $25.35 billion, a P/E ratio of 27.15, a PEG ratio of 2.70 and a beta of 0.57. CenterPoint Energy, Inc. has a fifty-two week low of $28.57 and a fifty-two week high of $40.50. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.61 and a current ratio of 0.79.

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

CenterPoint Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 20th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, November 20th. CenterPoint Energy’s payout ratio is currently 61.54%.

Analysts Set New Price Targets

CNP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CenterPoint Energy in a research note on Saturday, September 27th. BMO Capital Markets upped their price objective on CenterPoint Energy from $39.00 to $41.00 and gave the stock a “market perform” rating in a research note on Thursday. Mizuho upped their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Scotiabank upped their price objective on CenterPoint Energy from $40.00 to $42.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, CenterPoint Energy has a consensus rating of “Hold” and an average target price of $38.68.

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.