Norges Bank Buys Shares of 8,970,387 CenterPoint Energy, Inc. $CNP

by · The Cerbat Gem

Norges Bank bought a new stake in CenterPoint Energy, Inc. (NYSE:CNP – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,970,387 shares of the utilities provider’s stock, valued at approximately $343,925,000.

Several other hedge funds have also recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. bought a new stake in shares of CenterPoint Energy in the fourth quarter valued at $4,025,000. National Pension Service raised its stake in shares of CenterPoint Energy by 7.8% in the fourth quarter. National Pension Service now owns 956,067 shares of the utilities provider’s stock valued at $36,656,000 after buying an additional 69,252 shares during the period. Rothschild Investment LLC raised its stake in shares of 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 during the period. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of CenterPoint Energy in the fourth quarter valued at $65,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of CenterPoint Energy by 14.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 12,234 shares of the utilities provider’s stock valued at $469,000 after buying an additional 1,525 shares during the period. 91.77% of the stock is currently owned by institutional investors.

CenterPoint Energy Price Performance

CenterPoint Energy stock opened at $41.27 on Tuesday. CenterPoint Energy, Inc. has a 52 week low of $35.46 and a 52 week high of $44.47. The business has a 50-day simple moving average of $42.69 and a 200 day simple moving average of $41.05. The company has a quick ratio of 1.04, a current ratio of 1.16 and a debt-to-equity ratio of 1.96. The stock has a market cap of $27.00 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 2.51 and a beta of 0.48.

CenterPoint Energy (NYSE:CNP – Get Free Report) last posted its earnings results on Thursday, April 23rd. The utilities provider reported $0.56 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.02). CenterPoint Energy had a return on equity of 10.56% and a net margin of 11.38%.The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. On average, 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 announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 21st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, May 21st. CenterPoint Energy’s payout ratio is presently 56.44%.

Wall Street Analysts Forecast Growth

CNP has been the topic of several research reports. Jefferies Financial Group boosted their target price on CenterPoint Energy from $44.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Wells Fargo & Company reiterated an “overweight” rating and issued a $48.00 price target on shares of CenterPoint Energy in a research report on Tuesday, April 21st. Wall Street Zen cut CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Citigroup reiterated a “neutral” rating on shares of CenterPoint Energy in a research report on Thursday, February 19th. Finally, JPMorgan Chase & Co. reduced their price target 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 investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, CenterPoint Energy has a consensus rating of “Hold” and an average price target of $44.62.

Check Out Our Latest Research Report on CenterPoint Energy

About CenterPoint Energy

(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.

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