Alliancebernstein L.P. grew its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 758,536 shares of the utilities provider's stock after acquiring an additional 9,249 shares during the quarter. Alliancebernstein L.P. owned about 0.12% of CenterPoint Energy worth $24,068,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Benjamin Edwards Inc. grew its stake in CenterPoint Energy by 171.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 8,418 shares of the utilities provider's stock worth $248,000 after buying an additional 5,318 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of CenterPoint Energy during the 3rd quarter worth $350,000. National Bank of Canada FI grew its position in CenterPoint Energy by 135.0% in the third quarter. National Bank of Canada FI now owns 586,529 shares of the utilities provider's stock worth $17,255,000 after acquiring an additional 336,984 shares in the last quarter. XTX Topco Ltd bought a new position in CenterPoint Energy in the third quarter valued at $1,182,000. Finally, Nomura Asset Management Co. Ltd. raised its position in CenterPoint Energy by 8.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 195,878 shares of the utilities provider's stock valued at $5,763,000 after purchasing an additional 15,211 shares in the last quarter. Hedge funds and other institutional investors own 91.77% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on CNP shares. Argus upgraded CenterPoint Energy to a "hold" rating in a research report on Friday, April 4th. Morgan Stanley lifted their price target on shares of CenterPoint Energy from $32.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Evercore ISI raised shares of CenterPoint Energy from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $36.00 to $37.00 in a research note on Tuesday, March 11th. BMO Capital Markets lifted their target price on shares of CenterPoint Energy from $35.00 to $36.00 and gave the stock a "market perform" rating in a research report on Monday, March 17th. Finally, Guggenheim downgraded shares of CenterPoint Energy from a "buy" rating to a "neutral" rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $34.46.
View Our Latest Analysis on CNP
CenterPoint Energy Trading Up 1.0 %
Shares of CNP traded up $0.37 during trading hours on Friday, reaching $36.56. 8,296,724 shares of the company traded hands, compared to its average volume of 5,538,779. CenterPoint Energy, Inc. has a 12 month low of $25.41 and a 12 month high of $37.70. The company has a market capitalization of $23.86 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 2.71 and a beta of 0.65. The company's fifty day moving average price is $34.75 and its two-hundred day moving average price is $32.38. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.91.
CenterPoint Energy (NYSE:CNP - Get Free Report) last posted its earnings results on Thursday, February 20th. The utilities provider reported $0.40 earnings per share for the quarter, hitting analysts' consensus estimates of $0.40. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.46 billion. CenterPoint Energy had a return on equity of 10.02% and a net margin of 11.79%. Equities research analysts predict that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.
About CenterPoint Energy
(
Free Report)
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.
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