Sumitomo Mitsui Trust Group Inc. Sells 68,814 Shares of CenterPoint Energy, Inc. $CNP

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,416,201 shares of the utilities provider’s stock after selling 68,814 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of CenterPoint Energy worth $61,123,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Caitong International Asset Management Co. Ltd grew its position in CenterPoint Energy by 49.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the utilities provider’s stock worth $27,000 after buying an additional 235 shares in the last quarter. Zacks Investment Management raised its holdings in CenterPoint Energy by 0.8% in the 3rd quarter. Zacks Investment Management now owns 31,142 shares of the utilities provider’s stock valued at $1,208,000 after acquiring an additional 256 shares in the last quarter. Salomon & Ludwin LLC raised its holdings in CenterPoint Energy by 16.1% in the 4th quarter. Salomon & Ludwin LLC now owns 2,226 shares of the utilities provider’s stock valued at $85,000 after acquiring an additional 308 shares in the last quarter. Horizon Investments LLC raised its holdings in CenterPoint Energy by 3.2% in the 4th quarter. Horizon Investments LLC now owns 10,483 shares of the utilities provider’s stock valued at $402,000 after acquiring an additional 326 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of CenterPoint Energy by 6.7% during the 3rd quarter. Parallel Advisors LLC now owns 5,315 shares of the utilities provider’s stock valued at $206,000 after acquiring an additional 333 shares during the period. 91.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on CenterPoint Energy from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CenterPoint Energy in a research report on Monday, June 15th. Wells Fargo & Company reiterated an “overweight” rating and set a $48.00 price objective on shares of CenterPoint Energy in a research note on Tuesday, April 21st. Wall Street Zen lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Truist Financial dropped their target price on shares of CenterPoint Energy from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, CenterPoint Energy presently has an average rating of “Hold” and a consensus price target of $44.69.

CenterPoint Energy Price Performance

Shares of CNP traded up $0.27 during mid-day trading on Friday, reaching $43.59. The company had a trading volume of 6,551,005 shares, compared to its average volume of 6,599,078. The company’s 50 day simple moving average is $42.94 and its 200 day simple moving average is $41.93. CenterPoint Energy, Inc. has a 1-year low of $35.58 and a 1-year high of $45.22. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.04 and a current ratio of 1.16. The company has a market capitalization of $28.51 billion, a price-to-earnings ratio of 26.74, a P/E/G ratio of 2.58 and a beta of 0.46.

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 company had revenue of $2.98 billion for the quarter, compared to the consensus estimate 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 posted $0.53 earnings per share. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. Analysts expect that CenterPoint Energy, Inc. will post 1.91 EPS for the current year.

CenterPoint Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, May 21st. CenterPoint Energy’s payout ratio is presently 56.44%.

CenterPoint Energy Company Profile

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.