Truist Financial Corp Sells 9,350 Shares of CenterPoint Energy, Inc. $CNP

Truist Financial Corp lessened its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 12.4% during the second quarter, Holdings Channel reports. The firm owned 65,939 shares of the utilities provider’s stock after selling 9,350 shares during the quarter. Truist Financial Corp’s holdings in CenterPoint Energy were worth $2,423,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CNP. Brighton Jones LLC purchased a new position in CenterPoint Energy during the 4th quarter valued at about $254,000. UMB Bank n.a. boosted its position in shares of CenterPoint Energy by 58.0% in the 1st quarter. UMB Bank n.a. now owns 1,457 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 535 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of CenterPoint Energy by 13.7% in the 1st quarter. Farther Finance Advisors LLC now owns 15,817 shares of the utilities provider’s stock worth $582,000 after purchasing an additional 1,908 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of CenterPoint Energy in the 1st quarter worth approximately $569,000. Finally, GAMMA Investing LLC boosted its position in shares of CenterPoint Energy by 29.3% in the 1st quarter. GAMMA Investing LLC now owns 14,818 shares of the utilities provider’s stock worth $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.

CenterPoint Energy Trading Down 1.1%

NYSE:CNP opened at $39.12 on Friday. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.79 and a quick ratio of 0.61. The firm has a market capitalization of $25.54 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 2.79 and a beta of 0.57. CenterPoint Energy, Inc. has a one year low of $28.57 and a one year high of $40.50. The business has a fifty day moving average price of $38.31 and a 200-day moving average price of $37.39.

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

CenterPoint Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 20th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Thursday, November 20th. CenterPoint Energy’s dividend payout ratio is 61.54%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CNP shares. Wall Street Zen cut CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. Morgan Stanley lowered their price objective on CenterPoint Energy from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 25th. Barclays upped their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of CenterPoint Energy in a research report on Wednesday. Finally, Mizuho upped their price objective on CenterPoint Energy from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, September 30th. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $38.86.

CenterPoint Energy Company 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.