Allstate Corp Acquires Shares of 19,422 CenterPoint Energy, Inc. (NYSE:CNP)

Allstate Corp bought a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,422 shares of the utilities provider's stock, valued at approximately $616,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNP. HighTower Advisors LLC increased its position in shares of CenterPoint Energy by 2.9% during the 4th quarter. HighTower Advisors LLC now owns 80,577 shares of the utilities provider's stock worth $2,557,000 after purchasing an additional 2,283 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of CenterPoint Energy by 3.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,484,528 shares of the utilities provider's stock valued at $47,104,000 after acquiring an additional 42,578 shares during the last quarter. Custom Index Systems LLC acquired a new stake in shares of CenterPoint Energy during the fourth quarter valued at about $265,000. Atria Investments Inc raised its stake in shares of CenterPoint Energy by 57.1% in the 4th quarter. Atria Investments Inc now owns 34,577 shares of the utilities provider's stock valued at $1,097,000 after acquiring an additional 12,563 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of CenterPoint Energy by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 847,366 shares of the utilities provider's stock worth $24,930,000 after purchasing an additional 56,037 shares during the period. Hedge funds and other institutional investors own 91.77% of the company's stock.

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CenterPoint Energy Stock Up 1.2 %

Shares of CNP stock traded up $0.43 on Thursday, reaching $37.36. 5,208,049 shares of the stock were exchanged, compared to its average volume of 5,400,830. The company has a market capitalization of $24.39 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 2.71 and a beta of 0.65. The business's 50 day moving average price is $34.18 and its 200 day moving average price is $31.96. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.91. CenterPoint Energy, Inc. has a twelve month low of $25.41 and a twelve month high of $37.68.

CenterPoint Energy (NYSE:CNP - Get Free Report) last issued its earnings results on Thursday, February 20th. The utilities provider reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. CenterPoint Energy had a return on equity of 10.02% and a net margin of 11.79%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.46 billion. As a group, sell-side analysts expect that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Jefferies Financial Group began coverage on CenterPoint Energy in a research report on Wednesday. They issued a "buy" rating and a $42.00 target price on the stock. LADENBURG THALM/SH SH assumed coverage on CenterPoint Energy in a research note on Thursday, December 12th. They set a "buy" rating and a $34.50 target price on the stock. JPMorgan Chase & Co. lifted their target price on CenterPoint Energy from $34.00 to $36.00 and gave the company a "neutral" rating in a research report on Tuesday, March 11th. Scotiabank raised shares of CenterPoint Energy from a "sector perform" rating to a "sector outperform" rating and increased their price target for the stock from $30.00 to $35.00 in a research report on Thursday, December 12th. Finally, BMO Capital Markets lifted their price objective on shares of CenterPoint Energy from $35.00 to $36.00 and gave the company a "market perform" rating in a report on Monday, March 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, CenterPoint Energy currently has a consensus rating of "Hold" and an average target price of $34.46.

CenterPoint Energy Company Profile

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.