September 17, 2023
B.O.S.S. Retirement Advisors LLC Acquires New Position in CenterPoint Energy, Inc.
B.O.S.S. Retirement Advisors LLC, an institutional investor, recently acquired a new position in CenterPoint Energy, Inc. (NYSE:CNP) during the second quarter, as stated in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The acquisition includes 43,372 shares of the utilities provider’s stock with an estimated value of $1,264,000.
CenterPoint Energy (NYSE:CNP) reported its quarterly earnings results on July 27th. The company performed well for the quarter with an EPS (earnings per share) of $0.28, surpassing the consensus estimate by $0.01. This positive outcome reflects the company’s ability to generate profits and efficiently manage its operations amidst market challenges. Moreover, CenterPoint Energy achieved a net margin of 8.28% and a return on equity of 9.71% during this period.
In terms of revenue for the quarter, CenterPoint Energy generated $1.88 billion compared to a consensus estimate of $1.92 billion. Although slightly lower than anticipated, it is important to note that revenues can fluctuate due to various factors such as market conditions and regulatory changes.
Looking ahead, analysts anticipate that CenterPoint Energy will post an EPS of 1.49 for the current fiscal year. This projection demonstrates cautious optimism regarding the company’s future performance.
By acquiring shares in CenterPoint Energy, B.O.S.S. Retirement Advisors LLC has shown confidence in the potential growth and stability of the utilities provider within the current market landscape.
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CenterPoint Energy Witnesses Shifts in Ownership Stakes by Large Institutional Investors
September 17, 2023: CenterPoint Energy Witnesses Changes in Stakeholdings by Large Investors
CenterPoint Energy, a leading utilities provider, has experienced shifts in its ownership stakes by several significant institutional investors. Invesco Ltd., for instance, augmented its position in the company by an astonishing 68.2% during the first quarter of this year. As a result, Invesco now holds 7,638,179 shares of CenterPoint EnergyÂ’s stock valued at $234,036,000 after acquiring an additional 3,096,455 shares in the last quarter.
State Street Corp also made a noteworthy move by increasing its stake in CenterPoint Energy by 10.0% during the same period. The corporation now owns 33,279,592 shares of CenterPoint Energy’s stock with an estimated worth of $1,019,687,000 after adding an excess of 3 million shares to their holdings.
Similarly contributing to these changes is Norges Bank which recently purchased a new stake in CenterPoint Energy amounting to approximately $88,736,000. Deutsche Bank AG also participated in reshaping the ownership landscape by raising its stake in CenterPoint Energy by 10.7%, equivalent to adding an extra 2 million shares valued at around $676,724 because their current shareholding increased from previously owning Cincinnati Bell Inc’s tower assets through Cable & Wireless Jamaica Ltd’s parent Worldwide Holdings B.V), which has been converted into Cable & Wireless Communications Plc from October last year after approval from shareholders very ahead time due slowly getting back since being delisted.
Finally joining this group is ClearBridge Investments Ltd which entered as a new investor during the first quarter with a total investment value of about $59 million.
Institutional investors currently own a staggering 88.96% of CenterPoint Energy’s outstanding stock.
On Friday September 15th when shares opened at $29.08 on the New York Stock Exchange (NYSE), it showcased stability for CenterPoint Energy. The company’s recent fifty-day moving average price stood at $29.00, while the two-hundred-day moving average was nearly identical at $29.17. While it is noteworthy to mention that these figures have remained relatively consistent, indicating a level of steadiness in the market, further evaluation of factors affecting this pattern is necessary.
Certain performance indicators provide insight into CenterPoint Energy’s financial viability. With a debt-to-equity ratio of 1.67, CenterPoint Energy exhibits a moderate level of financial leverage compared to its equity structure. The company maintains a current ratio of 0.88 and quick ratio of 0.65, reflecting its ability to meet short-term obligations.
CenterPoint Energy observed notable changes in its stock price over the past year, with a recorded one-year low of $25.03 and a one-year high reaching $33.50. These fluctuations may be attributed to various market factors and industry trends.
The company currently boasts an approximate market capitalization of $18.35 billion and holds a price-to-earnings ratio of 25.29 indicating investor valuation perception influenced dramatic sale signs can make investment profitable compared time when buyers carefully evaluating .
Moreover, with a PEG ratio standing at 2.55 and beta value estimated around 0.89, CenterPoint Energy demonstrates certain levels of volatility within the market as measured by investors’ return expectations.
CenterPoint Energy announced its quarterly dividend recently which was paid on Thursday September 14th irritating . Stockholders who held shares as of Thursday August 17th received a dividend payment amounting to $0.19 per share from shares they had held as stockholders old enough time since last get used up date before sale planned change prices have begun after panic selling period leading hefty borrowing money heavy invest other assets losing sweet profit without realizing any from prior period investment.
The dividend payout ratio for CenterPoint Energy currently amounts to 66.09%, meaning that shareholders receive a significant portion of the company’s earnings as dividends.
Expert opinions on the future performance of CenterPoint Energy have been offered by various equities research analysts. JPMorgan Chase & Co., for example, increased their price target on shares of the company from $33.00 to $34.00, providing an “overweight” rating in their research note dated Thursday, August 17th.
Royal Bank of Canada also expressed optimism but lowered the price target from $34.00 to $33.00 while maintaining an “outperform” rating in their research note released on Wednesday, September 6th.
Barclays took a more cautious tone when they initiated coverage on CenterPoint Energy in a note issued on Wednesday, August 23rd. The firm assigned the stock an “underweight” rating along with a $28.00 price target for the company.
Morgan Stanley followed suit and cut its price target from $30.00 to $29.00 while labeling CenterPoint Energy as “overweight” in their report published on Wednesday, August 23rd.
As for the overall consensus amongst analysts, based on data obtained from Bloomberg.com, Center
