As of the first quarter of this year, XTX Topco Ltd has increased its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 29.0%, according to the company’s recent filing with the Securities and Exchange Commission (SEC). The fund now owns 23,769 shares of the utilities provider’s stock, after acquiring an additional 5,340 shares during this period. The value of XTX Topco Ltd’s holdings in CenterPoint Energy is estimated to be $700,000 as of its most recent SEC filing.
CenterPoint Energy (NYSE:CNP) recently reported its quarterly earnings results on Thursday, July 27th. The utilities provider exceeded expectations with earnings per share of $0.28 for the quarter, surpassing the consensus estimate of $0.27 by $0.01. CenterPoint Energy achieved a net margin of 8.28% and a return on equity of 9.71%. However, the firm’s revenue for the quarter was $1.88 billion, slightly below analysts’ expectations of $1.92 billion. In comparison, during the same quarter in the prior year, the company had earnings per share (EPS) of $0.31.
Equities analysts are projecting that CenterPoint Energy will post 1.49 earnings per share for the current fiscal year.
This recent increase in ownership by XTX Topco Ltd indicates growing confidence in CenterPoint Energy’s performance and potential outlook for profitability moving forward.
CenterPoint Energy is a Houston-based electric and natural gas utility serving over seven million customers across several states in the United States. The company operates through various segments including Electric Transmission & Distribution, Natural Gas Distribution, and Energy Services.
The Electric Transmission & Distribution segment focuses on providing reliable power transmission and distribution services to residential, commercial, and industrial customers within its service territory.
The Natural Gas Distribution segment involves delivering natural gas to customers for heating, cooking, and other uses. CenterPoint Energy also offers natural gas sales and services to customers.
The Energy Services segment handles non-regulated activities such as commercial HVAC (heating, ventilation, and air conditioning) services, providing energy efficiency solutions, and offering renewable energy products.
CenterPoint Energy’s strategic focus centers on improving operational efficiency, investing in infrastructure upgrades, and embracing technological advancements to enhance customer service. The company aims to deliver safe and reliable energy solutions while expanding its customer base and addressing environmental sustainability concerns.
As of the reference date of September 10th, 2023, CenterPoint Energy continues to navigate a dynamic industry landscape marked by evolving regulatory environments, changing consumer preferences, and emerging energy technologies. However, with a solid track record of financial performance and a commitment to meeting customer needs, CenterPoint Energy remains poised for future growth within the utilities sector.
CenterPoint Energy, Inc.
Updated on: 07/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Institutional Investors and Analysts Show Interest in CenterPoint Energy (CNP) Stock
September 10, 2023 – CenterPoint Energy, Inc. (CNP) has seen increased interest from institutional investors and hedge funds recently, as evidenced by their buying and selling of CNP shares. A number of companies, including Securian Asset Management Inc., AdvisorNet Financial Inc., Bogart Wealth LLC, Signaturefd LLC, and Schechter Investment Advisors LLC, have all reported an increase in their holdings of CenterPoint Energy stock during the first quarter of this year.
Securian Asset Management Inc. now owns 52,022 shares of CNP worth $1,533,000 after purchasing an additional 333 shares. Similarly, AdvisorNet Financial Inc. increased its holdings by 3.3% to 11,019 shares valued at $325,000. Bogart Wealth LLC saw a significant increase of 44.9%, bringing its total holdings to 1,152 shares worth $34,000. Signaturefd LLC also raised its stake by 8.4% to own 5,084 shares valued at $150,000. Finally Derek Schechter Investment Advisors LLC purchased an additional 395 shares bringing their total to 15,518 shares with a value of $457,000. Currently ownership among institutional investors is reflected with a significant majority at approximately 88.96%
On Friday September 10th Stock prices for CenterPoint energy opened at $28.29 per share the stock has since maintained prices in the same general area before opening.The company’s fifty-day moving average price stands at $29.09 with the two hundred-day moving average set marginally higher at $29.17.CenterPoint Energy’s share value has shown fluctuation ranging from lows of $25-03 to highs reaching Sen some fifty-two-week period starting in September last year and concluding n August thisyear the stocks market cap reveals it as standing firmly at$17..86 billion
CenterPoint Energy also recently announced its quarterly dividend, which will be paid on September 14th. Investors who had acquired shares of the utility provider’s stock before August 17th will receive a dividend of $0.19 per share. Based on this rate, the annualized dividend is $0.76 with a yield of approximately 2.69%. The company has maintained a dividend payout ratio (DPR) of 66.09%.
Analysts have begun to assess CenterPoint Energy’s stock with varying perspectives. Barclays initiated coverage on CNP and assigned it an “underweight” rating along with a target price of $28.00. On the other hand, JPMorgan Chase & Co increased their target price from $33 to $34 calling CNP not only overweight in terms of value but rendered thier recommendation in agreement
Mizuho downgraded CNP from a “buy” rating to a “neutral” rating with a target value of$33.. UBS group followed suit assigning NEp downgrade signaling neutral at best and cut their price target by penny amounting to $30.On June 6th they noted that this evaluation was made as per market valuations standpoint.
StockNews.com recently began coverage on CenterPoint Energy, giving it a “hold” rating.Several firms have expressed interest in evaluating Centrpoint Energy”s merits, with one analyst suggesting to sellout right and three offering neutral tones while seven still maintain buy ratings Copious data yields Bloomberg consensus reverberating “Moderate Buy” opinion as well as alluding all but expected average target priceof$$32·10