Geode Capital Management LLC Raises Position in CenterPoint Energy, Inc. (NYSE:CNP)

Geode Capital Management LLC lifted its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,490,728 shares of the utilities provider's stock after purchasing an additional 406,832 shares during the period. Geode Capital Management LLC owned about 2.38% of CenterPoint Energy worth $490,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in CenterPoint Energy during the third quarter worth about $26,000. J.Safra Asset Management Corp purchased a new stake in shares of CenterPoint Energy during the 4th quarter worth approximately $28,000. Assetmark Inc. raised its holdings in shares of CenterPoint Energy by 657.1% in the 4th quarter. Assetmark Inc. now owns 901 shares of the utilities provider's stock worth $29,000 after purchasing an additional 782 shares during the period. VSM Wealth Advisory LLC purchased a new position in CenterPoint Energy in the fourth quarter valued at approximately $32,000. Finally, BankPlus Trust Department bought a new position in CenterPoint Energy during the fourth quarter valued at $40,000. 91.77% of the stock is owned by hedge funds and other institutional investors.

CenterPoint Energy Price Performance

Shares of CenterPoint Energy stock traded up $0.72 during trading on Wednesday, hitting $36.27. The stock had a trading volume of 12,994,060 shares, compared to its average volume of 5,505,719. 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 12 month low of $25.41 and a 12 month high of $37.70. The firm has a market cap of $23.67 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 2.71 and a beta of 0.65. The business's 50-day moving average is $34.59 and its 200 day moving average is $32.27.

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Jefferies Financial Group began coverage on CenterPoint Energy in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $42.00 target price on the stock. Guggenheim cut CenterPoint Energy from a "buy" rating to a "neutral" rating in a research note on Thursday, January 23rd. LADENBURG THALM/SH SH began coverage on shares of CenterPoint Energy in a research report on Thursday, December 12th. They set a "buy" rating and a $34.50 target price for the company. BMO Capital Markets boosted their price target on shares of CenterPoint Energy from $35.00 to $36.00 and gave the company a "market perform" rating in a research report on Monday, March 17th. Finally, Evercore ISI raised shares of CenterPoint Energy from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $36.00 to $37.00 in a report on Tuesday, March 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $34.46.

CenterPoint Energy 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.