Venturi Wealth Management LLC Sells 1,308 Shares of CenterPoint Energy, Inc. $CNP

Venturi Wealth Management LLC lowered its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 6.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,497 shares of the utilities provider’s stock after selling 1,308 shares during the quarter. Venturi Wealth Management LLC’s holdings in CenterPoint Energy were worth $680,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CNP. Brighton Jones LLC purchased a new position in CenterPoint Energy during the fourth quarter valued at approximately $254,000. UMB Bank n.a. lifted its holdings in CenterPoint Energy by 58.0% during the first quarter. UMB Bank n.a. now owns 1,457 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 535 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in CenterPoint Energy by 13.7% during the first quarter. Farther Finance Advisors LLC now owns 15,817 shares of the utilities provider’s stock valued at $582,000 after purchasing an additional 1,908 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in CenterPoint Energy during the first quarter valued at approximately $569,000. Finally, GAMMA Investing LLC lifted its holdings in CenterPoint Energy by 29.3% during the first quarter. GAMMA Investing LLC now owns 14,818 shares of the utilities provider’s stock valued at $537,000 after purchasing an additional 3,359 shares in the last quarter. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CNP. BMO Capital Markets lifted their price target on shares of CenterPoint Energy from $39.00 to $41.00 and gave the company a “market perform” rating in a report on Thursday, October 2nd. Mizuho raised their target price on shares of CenterPoint Energy from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, September 30th. Evercore ISI started coverage on shares of CenterPoint Energy in a report on Monday. They issued an “in-line” rating and a $42.00 price target on the stock. Barclays increased their price objective on shares of CenterPoint Energy from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of CenterPoint Energy in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $38.86.

CenterPoint Energy Trading Down 1.1%

Shares of CNP opened at $39.12 on Friday. The company’s fifty day moving average is $38.31 and its 200 day moving average is $37.39. CenterPoint Energy, Inc. has a fifty-two week low of $28.57 and a fifty-two week high of $40.50. The stock has a market capitalization of $25.54 billion, a PE ratio of 27.36, a P/E/G ratio of 2.79 and a beta of 0.57. 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 announced its quarterly earnings results on Thursday, July 24th. The utilities provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.15). CenterPoint Energy had a return on equity of 9.16% and a net margin of 10.42%.The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the firm posted $0.36 EPS. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. Sell-side analysts expect that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal 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 given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, November 20th. CenterPoint Energy’s payout ratio is currently 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.