ClearBridge Investments Ltd cut its holdings in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 11.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,947,408 shares of the utilities provider's stock after selling 240,056 shares during the quarter. CenterPoint Energy comprises approximately 1.6% of ClearBridge Investments Ltd's holdings, making the stock its 23rd largest position. ClearBridge Investments Ltd owned about 0.30% of CenterPoint Energy worth $61,791,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of CenterPoint Energy in the 3rd quarter valued at $26,000. J.Safra Asset Management Corp acquired a new stake in shares of CenterPoint Energy in the fourth quarter worth about $28,000. Assetmark Inc. lifted its position in shares of CenterPoint Energy by 657.1% in the fourth quarter. Assetmark Inc. now owns 901 shares of the utilities provider's stock worth $29,000 after buying an additional 782 shares during the last quarter. VSM Wealth Advisory LLC bought a new position in shares of CenterPoint Energy in the 4th quarter valued at approximately $32,000. Finally, BankPlus Trust Department bought a new position in shares of CenterPoint Energy in the fourth quarter valued at approximately $40,000. 91.77% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on CNP. Morgan Stanley raised their target price on shares of CenterPoint Energy from $32.00 to $34.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. LADENBURG THALM/SH SH began coverage on CenterPoint Energy in a research note on Thursday, December 12th. They issued a "buy" rating and a $34.50 price objective on the stock. Jefferies Financial Group began coverage on shares of CenterPoint Energy in a research report on Wednesday. They issued a "buy" rating and a $42.00 price target on the stock. Evercore ISI upgraded shares of CenterPoint Energy from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $36.00 to $37.00 in a research note on Tuesday, March 11th. Finally, JPMorgan Chase & Co. boosted their price target on CenterPoint Energy from $34.00 to $36.00 and gave the company a "neutral" rating in a research note on Tuesday, March 11th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, CenterPoint Energy has an average rating of "Hold" and an average price target of $34.46.
Check Out Our Latest Research Report on CenterPoint Energy
CenterPoint Energy Price Performance
NYSE CNP traded up $0.45 during midday trading on Thursday, hitting $37.38. The company had a trading volume of 1,467,501 shares, compared to its average volume of 5,377,482. The company has a market capitalization of $24.40 billion, a PE ratio of 23.51, a P/E/G ratio of 2.71 and a beta of 0.65. CenterPoint Energy, Inc. has a twelve month low of $25.41 and a twelve month high of $37.68. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.91. The firm has a 50-day moving average price of $34.08 and a 200-day moving average price of $31.92.
CenterPoint Energy (NYSE:CNP - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. The business had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.46 billion. CenterPoint Energy had a net margin of 11.79% and a return on equity of 10.02%. As a group, analysts anticipate 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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