Magellan Asset Management Ltd Sells 88,127 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Magellan Asset Management Ltd reduced its position in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 16.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 464,177 shares of the utilities provider's stock after selling 88,127 shares during the period. Magellan Asset Management Ltd owned 0.07% of CenterPoint Energy worth $14,728,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CNP. Public Sector Pension Investment Board increased its position in CenterPoint Energy by 4.9% in the third quarter. Public Sector Pension Investment Board now owns 113,705 shares of the utilities provider's stock worth $3,345,000 after purchasing an additional 5,300 shares during the period. Benjamin Edwards Inc. grew its position in shares of CenterPoint Energy by 171.5% during 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 during the period. Holocene Advisors LP bought a new stake in shares of CenterPoint Energy during the third quarter worth approximately $6,806,000. Jacobs Levy Equity Management Inc. raised its stake in shares of CenterPoint Energy by 566.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,744,742 shares of the utilities provider's stock worth $51,330,000 after buying an additional 1,482,966 shares during the last quarter. Finally, Quarry LP acquired a new position in CenterPoint Energy in the third quarter valued at approximately $194,000. Institutional investors own 91.77% of the company's stock.

CenterPoint Energy Stock Up 1.2 %

Shares of CenterPoint Energy stock traded up $0.44 on Tuesday, hitting $35.94. The company had a trading volume of 5,926,629 shares, compared to its average volume of 5,441,940. The stock has a 50-day moving average of $34.31 and a 200-day moving average of $32.12. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.08 and a quick ratio of 0.92. CenterPoint Energy, Inc. has a twelve month low of $25.41 and a twelve month high of $37.70. The firm has a market capitalization of $23.46 billion, a P/E ratio of 22.66, a P/E/G ratio of 2.71 and a beta of 0.65.

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CenterPoint Energy (NYSE:CNP - Get Free Report) last announced 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. CenterPoint Energy had a net margin of 11.79% and a return on equity of 10.02%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.46 billion. Research analysts predict that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on CNP shares. Barclays lifted their target price on shares of CenterPoint Energy from $29.00 to $30.00 and gave the stock an "underweight" rating in a report on Monday, January 27th. JPMorgan Chase & Co. lifted their price objective on CenterPoint Energy from $34.00 to $36.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 11th. LADENBURG THALM/SH SH initiated coverage on CenterPoint Energy in a research note on Thursday, December 12th. They issued a "buy" rating and a $34.50 target price on the stock. Jefferies Financial Group began coverage on CenterPoint Energy in a research report on Wednesday, April 2nd. They set a "buy" rating and a $42.00 target price for the company. Finally, Scotiabank raised CenterPoint Energy from a "sector perform" rating to a "sector outperform" rating and upped their price target for the company from $30.00 to $35.00 in a research note on Thursday, December 12th. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus 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.