Jennison Associates LLC Has $324.43 Million Stock Holdings in CenterPoint Energy, Inc. $CNP

Jennison Associates LLC decreased its position in CenterPoint Energy, Inc. (NYSE:CNP) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,517,003 shares of the utilities provider’s stock after selling 205,890 shares during the period. Jennison Associates LLC’s holdings in CenterPoint Energy were worth $324,434,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its holdings in CenterPoint Energy by 49.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 709 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 235 shares during the last quarter. Zacks Investment Management boosted its stake in shares of CenterPoint Energy by 0.8% in the 3rd quarter. Zacks Investment Management now owns 31,142 shares of the utilities provider’s stock valued at $1,208,000 after purchasing an additional 256 shares during the last quarter. Salomon & Ludwin LLC boosted its stake in shares of CenterPoint Energy by 16.1% in the 4th quarter. Salomon & Ludwin LLC now owns 2,226 shares of the utilities provider’s stock valued at $85,000 after purchasing an additional 308 shares during the last quarter. Horizon Investments LLC grew its position in shares of CenterPoint Energy by 3.2% during the 4th quarter. Horizon Investments LLC now owns 10,483 shares of the utilities provider’s stock worth $402,000 after buying an additional 326 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of CenterPoint Energy by 6.7% during the 3rd quarter. Parallel Advisors LLC now owns 5,315 shares of the utilities provider’s stock worth $206,000 after buying an additional 333 shares during the period. 91.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Truist Financial cut their price objective on shares of CenterPoint Energy from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, May 18th. BTIG Research initiated coverage on shares of CenterPoint Energy in a report on Tuesday, June 30th. They set a “neutral” rating for the company. Wall Street Zen lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Jefferies Financial Group set a $50.00 target price on shares of CenterPoint Energy in a research report on Thursday, June 18th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of CenterPoint Energy in a research note on Monday, June 15th. Eight equities 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.com, the company has a consensus rating of “Hold” and an average price target of $45.31.

CenterPoint Energy Price Performance

CenterPoint Energy stock opened at $43.13 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.04 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $28.22 billion, a P/E ratio of 26.46, a PEG ratio of 2.56 and a beta of 0.46. The business has a 50-day moving average of $43.01 and a 200-day moving average of $42.12. CenterPoint Energy, Inc. has a 1 year low of $36.59 and a 1 year high of $45.22.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, April 23rd. The utilities provider reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). CenterPoint Energy had a net margin of 11.38% and a return on equity of 10.56%. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. CenterPoint Energy has set its FY 2026 guidance at 1.890-1.910 EPS. On average, equities analysts anticipate that CenterPoint Energy, Inc. will post 1.91 EPS for the current year.

CenterPoint Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 2.2%. CenterPoint Energy’s payout ratio is currently 56.44%.

CenterPoint Energy 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.