Elevation Point Wealth Partners LLC Acquires 25,296 Shares of CenterPoint Energy, Inc. $CNP

Elevation Point Wealth Partners LLC boosted its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 249.8% in the first quarter, HoldingsChannel reports. The firm owned 35,422 shares of the utilities provider’s stock after acquiring an additional 25,296 shares during the period. Elevation Point Wealth Partners LLC’s holdings in CenterPoint Energy were worth $1,529,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CNP. New Age Alpha Advisors LLC acquired a new position in CenterPoint Energy in the fourth quarter worth $25,000. Caitong International Asset Management Co. Ltd increased its stake in shares of CenterPoint Energy by 49.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the utilities provider’s stock valued at $27,000 after buying an additional 235 shares in the last quarter. Rothschild Investment LLC increased 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 in the last quarter. DV Equities LLC bought a new position in shares of CenterPoint Energy in the fourth quarter valued at about $35,000. Finally, Rexford Capital Inc. acquired a new position in CenterPoint Energy during the 1st quarter worth about $39,000. Institutional investors own 91.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CNP. Barclays increased their price objective on shares of CenterPoint Energy from $38.00 to $44.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. BTIG Research initiated coverage on shares of CenterPoint Energy in a research report on Tuesday, June 30th. They set a “neutral” rating on the stock. Jefferies Financial Group set a $50.00 price target on shares of CenterPoint Energy in a research note on Thursday, June 18th. Bank of America raised their price target on shares of CenterPoint Energy from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $48.00 price objective on shares of CenterPoint Energy in a research report on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $44.69.

CenterPoint Energy Stock Performance

Shares of NYSE:CNP opened at $44.55 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.04 and a debt-to-equity ratio of 1.96. CenterPoint Energy, Inc. has a 1-year low of $35.46 and a 1-year high of $45.22. The stock has a market capitalization of $29.14 billion, a P/E ratio of 27.33, a P/E/G ratio of 2.64 and a beta of 0.46. The business has a 50-day moving average price of $42.83 and a two-hundred day moving average price of $41.75.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Thursday, April 23rd. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.02). CenterPoint Energy had a net margin of 11.38% and a return on equity of 10.56%. The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the business posted $0.53 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. Equities analysts predict that CenterPoint Energy, Inc. will post 1.91 earnings per share for the current year.

CenterPoint Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 21st were given a dividend of $0.23 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.92 annualized dividend and a dividend yield of 2.1%. CenterPoint Energy’s payout ratio is presently 56.44%.

About CenterPoint Energy

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.