CenterPoint Energy (NYSE:CNP) Hits New 52-Week High – What’s Next?

CenterPoint Energy, Inc. (NYSE:CNP) hit a new 52-week high on Thursday . The company traded as high as $44.49 and last traded at $44.2170, with a volume of 703771 shares. The stock had previously closed at $43.86.

Wall Street Analyst Weigh In

CNP has been the topic of several research analyst reports. Truist Financial decreased their price target on shares of CenterPoint Energy from $48.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Weiss Ratings restated a “buy (b)” rating on shares of CenterPoint Energy in a research report on Monday, June 15th. Barclays upped their price objective on CenterPoint Energy from $38.00 to $44.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. Bank of America lifted their target price on CenterPoint Energy from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. dropped their target price on CenterPoint Energy from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Eight analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, CenterPoint Energy currently has an average rating of “Hold” and an average target price of $44.69.

CenterPoint Energy Trading Up 1.7%

The company’s fifty day simple moving average is $42.67 and its two-hundred day simple moving average is $41.49. The company has a market capitalization of $29.41 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 2.62 and a beta of 0.46. The company has a quick ratio of 1.04, a current ratio of 1.16 and a debt-to-equity ratio of 1.96.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, April 23rd. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.02). The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $1.98 billion. CenterPoint Energy had a net margin of 11.38% and a return on equity of 10.56%. During the same period last year, the firm earned $0.53 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. Research analysts forecast that CenterPoint Energy, Inc. will post 1.91 earnings per share for the current fiscal year.

CenterPoint Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 21st were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Thursday, May 21st. CenterPoint Energy’s dividend payout ratio is 56.44%.

Hedge Funds Weigh In On CenterPoint Energy

Several institutional investors have recently modified their holdings of CNP. New Age Alpha Advisors LLC bought a new stake in CenterPoint Energy during the 4th quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd lifted its stake in CenterPoint Energy by 49.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the utilities provider’s stock valued at $27,000 after buying an additional 235 shares in the last quarter. Rothschild Investment LLC lifted its stake in CenterPoint Energy by 165.0% in the fourth quarter. Rothschild Investment LLC now owns 734 shares of the utilities provider’s stock valued at $28,000 after buying an additional 457 shares in the last quarter. DV Equities LLC acquired a new position in shares of CenterPoint Energy in the fourth quarter valued at approximately $35,000. Finally, Rexford Capital Inc. acquired a new position in shares of CenterPoint Energy in the first quarter valued at approximately $39,000. Institutional investors own 91.77% of the company’s stock.

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.