Magellan Asset Management Ltd Invests $30.73 Million in CenterPoint Energy, Inc. $CNP

Magellan Asset Management Ltd acquired a new stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 697,825 shares of the utilities provider’s stock, valued at approximately $30,732,000.

A number of other hedge funds have also recently bought and sold shares of the company. Burk Holdings LLC bought a new position in CenterPoint Energy during the second quarter worth about $92,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of CenterPoint Energy during the 2nd quarter worth approximately $150,638,000. Haverford Trust Co acquired a new stake in CenterPoint Energy during the second quarter worth approximately $393,000. Bank of Nova Scotia acquired a new stake in CenterPoint Energy in the 2nd quarter worth about $9,870,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of CenterPoint Energy during the 2nd quarter worth $1,646,000. 91.77% of the stock is currently owned by institutional investors.

CenterPoint Energy Price Performance

Shares of NYSE CNP opened at $38.81 on Monday. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.12 and a quick ratio of 0.97. CenterPoint Energy, Inc. has a 1 year low of $36.60 and a 1 year high of $45.26. The stock has a market capitalization of $25.56 billion, a P/E ratio of 22.83, a P/E/G ratio of 2.30 and a beta of 0.46. The company’s 50-day moving average is $42.69 and its 200 day moving average is $42.63.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.12 billion. CenterPoint Energy had a return on equity of 11.10% and a net margin of 11.61%.During the same quarter last year, the firm posted $0.29 earnings per share. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. On average, sell-side analysts expect that CenterPoint Energy, Inc. will post 1.91 earnings per share for the current year.

CenterPoint Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This is a positive change from CenterPoint Energy’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.5%. CenterPoint Energy’s payout ratio is 56.47%.

Wall Street Analyst Weigh In

CNP has been the topic of a number of research reports. BMO Capital Markets reduced their price objective on CenterPoint Energy from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their target price on shares of CenterPoint Energy from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of CenterPoint Energy in a research report on Monday, June 15th. Evercore set a $43.00 target price on CenterPoint Energy in a research report on Monday, August 17th. Finally, KeyCorp lowered their target price on CenterPoint Energy from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.36.

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.