Mirae Asset Global Investments Co. Ltd. Boosts Holdings in CenterPoint Energy, Inc. $CNP

by · The Cerbat Gem

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP – Free Report) by 27.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 107,937 shares of the utilities provider’s stock after purchasing an additional 23,057 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in CenterPoint Energy were worth $4,138,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Root Financial Partners LLC acquired a new position in shares of CenterPoint Energy in the 3rd quarter valued at about $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in CenterPoint Energy during the third quarter worth about $26,000. LRI Investments LLC grew its holdings in CenterPoint Energy by 107.9% during the third quarter. LRI Investments LLC now owns 684 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 355 shares during the period. First Horizon Corp purchased a new position in CenterPoint Energy during the third quarter valued at approximately $30,000. Finally, Atlantic Union Bankshares Corp purchased a new position in CenterPoint Energy during the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Trading Down 0.9%

CNP stock opened at $42.33 on Wednesday. The company’s 50-day simple moving average is $42.98 and its 200-day simple moving average is $40.45. The company has a quick ratio of 0.79, a current ratio of 0.91 and a debt-to-equity ratio of 1.84. CenterPoint Energy, Inc. has a 52-week low of $35.46 and a 52-week high of $44.47. The firm has a market cap of $27.69 billion, a P/E ratio of 26.45, a PEG ratio of 2.53 and a beta of 0.54.

CenterPoint Energy (NYSE:CNP – Get Free Report) last posted its earnings results on Thursday, February 19th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). CenterPoint Energy had a return on equity of 10.46% and a net margin of 11.24%.The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the previous year, the company earned $0.40 earnings per share. CenterPoint Energy has set its FY 2026 guidance at 1.900- EPS. As a group, equities analysts forecast that CenterPoint Energy, Inc. will post 1.9 EPS for the current fiscal year.

CenterPoint Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 21st will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, May 21st. CenterPoint Energy’s dividend payout ratio is presently 57.50%.

Analysts Set New Price Targets

Several research firms have commented on CNP. Morgan Stanley restated an “underperform” rating and issued a $37.00 price objective on shares of CenterPoint Energy in a research report on Wednesday, January 21st. Wells Fargo & Company reaffirmed an “overweight” rating and set a $48.00 target price on shares of CenterPoint Energy in a report on Tuesday. KeyCorp boosted their target price on shares of CenterPoint Energy from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Truist Financial assumed coverage on shares of CenterPoint Energy in a report on Tuesday. They set a “buy” rating and a $48.00 price target on the stock. Finally, Wall Street Zen upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Monday, February 23rd. Eight investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $44.15.

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.

Further Reading

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