314,808 Shares in CenterPoint Energy, Inc. $CNP Purchased by Entropy Technologies LP

Entropy Technologies LP purchased a new stake in CenterPoint Energy, Inc. (NYSE:CNPFree Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 314,808 shares of the utilities provider’s stock, valued at approximately $13,587,000.

Several other institutional investors also recently bought and sold shares of CNP. Ethos Capital Management Inc. purchased a new stake in shares of CenterPoint Energy during the fourth quarter worth approximately $1,356,000. Allspring Global Investments Holdings LLC lifted its holdings in CenterPoint Energy by 18.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 443,406 shares of the utilities provider’s stock valued at $17,173,000 after purchasing an additional 69,700 shares in the last quarter. Capital Research Global Investors boosted its stake in CenterPoint Energy by 1.1% during the 4th quarter. Capital Research Global Investors now owns 20,941,909 shares of the utilities provider’s stock worth $802,916,000 after purchasing an additional 235,346 shares during the last quarter. Artemis Investment Management LLP grew its holdings in shares of CenterPoint Energy by 96.0% during the fourth quarter. Artemis Investment Management LLP now owns 1,595,867 shares of the utilities provider’s stock worth $61,186,000 after buying an additional 781,849 shares in the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co purchased a new stake in shares of CenterPoint Energy during the fourth quarter worth $3,834,000. 91.77% of the stock is currently owned by institutional investors and hedge funds.

More CenterPoint Energy News

Here are the key news stories impacting CenterPoint Energy this week:

CenterPoint Energy Trading Up 0.8%

Shares of CNP opened at $44.59 on Friday. CenterPoint Energy, Inc. has a 12-month low of $36.60 and a 12-month high of $45.22. The firm has a market capitalization of $29.17 billion, a P/E ratio of 27.36, a P/E/G ratio of 2.62 and a beta of 0.46. The firm has a 50-day moving average price of $43.16 and a 200 day moving average price of $42.30. The company has a current ratio of 1.16, a quick ratio of 1.04 and a debt-to-equity ratio of 1.96.

CenterPoint Energy (NYSE:CNPGet Free Report) last posted its earnings results on Thursday, April 23rd. The utilities provider reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.02). CenterPoint Energy had a net margin of 11.38% and a return on equity of 10.56%. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Sell-side analysts forecast that CenterPoint Energy, Inc. will post 1.91 EPS for the current year.

CenterPoint Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be issued a $0.24 dividend. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Thursday, August 20th. CenterPoint Energy’s payout ratio is currently 56.44%.

Analyst Upgrades and Downgrades

CNP has been the subject of a number of recent research reports. Wall Street Zen cut shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Truist Financial dropped their price objective on shares of CenterPoint Energy from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, May 18th. KeyCorp cut their price objective on shares of CenterPoint Energy from $47.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday. Morgan Stanley set a $40.00 target price on shares of CenterPoint Energy in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on CenterPoint Energy from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, CenterPoint Energy has an average rating of “Hold” and a consensus target price of $45.38.

View Our Latest Stock Analysis on CNP

CenterPoint Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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