Chung Wu Investment Group LLC Makes New $29,000 Investment in CenterPoint Energy, Inc. $CNP

Chung Wu Investment Group LLC purchased a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 800 shares of the utilities provider’s stock, valued at approximately $29,000.

Other large investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its holdings in CenterPoint Energy by 8.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 80,229 shares of the utilities provider’s stock worth $2,907,000 after purchasing an additional 6,377 shares during the period. QRG Capital Management Inc. increased its holdings in CenterPoint Energy by 8.8% during the 1st quarter. QRG Capital Management Inc. now owns 19,913 shares of the utilities provider’s stock worth $721,000 after purchasing an additional 1,615 shares during the period. Principal Financial Group Inc. increased its holdings in CenterPoint Energy by 3.1% during the 1st quarter. Principal Financial Group Inc. now owns 864,175 shares of the utilities provider’s stock worth $31,309,000 after purchasing an additional 26,153 shares during the period. Nisa Investment Advisors LLC increased its holdings in CenterPoint Energy by 5.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 166,743 shares of the utilities provider’s stock worth $6,041,000 after purchasing an additional 8,914 shares during the period. Finally, Golden State Wealth Management LLC increased its holdings in CenterPoint Energy by 472.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,220 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 1,007 shares during the period. Hedge funds and other institutional investors own 91.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CNP shares. JPMorgan Chase & Co. upped their price target on CenterPoint Energy from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Evercore ISI set a $42.00 price objective on CenterPoint Energy in a research report on Monday. Mizuho upped their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 30th. Morgan Stanley lowered their price objective on CenterPoint Energy from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, September 25th. Finally, Barclays upped their price objective on CenterPoint Energy from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 29th. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $38.77.

CenterPoint Energy Stock Up 1.5%

Shares of NYSE CNP opened at $39.45 on Tuesday. The stock has a market cap of $25.76 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 2.74 and a beta of 0.57. The company has a quick ratio of 0.61, a current ratio of 0.79 and a debt-to-equity ratio of 1.87. CenterPoint Energy, Inc. has a 52-week low of $28.57 and a 52-week high of $40.50. The business has a 50-day moving average price of $38.26 and a 200 day moving average price of $37.34.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Thursday, July 24th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.15). The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $2.20 billion. CenterPoint Energy had a net margin of 10.42% and a return on equity of 9.16%. During the same period last year, the company earned $0.36 earnings per share. CenterPoint Energy has set its FY 2025 guidance at 1.740-1.760 EPS. Equities research analysts forecast that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

CenterPoint Energy Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.2%. CenterPoint Energy’s dividend payout ratio is 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.