Polymer Capital Management HK LTD Acquires New Position in CenterPoint Energy, Inc. (NYSE:CNP)

Polymer Capital Management HK LTD bought a new stake in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 26,690 shares of the utilities provider's stock, valued at approximately $847,000.

A number of other large investors have also recently bought and sold shares of the stock. Federated Hermes Inc. boosted its stake in shares of CenterPoint Energy by 1.3% during the fourth quarter. Federated Hermes Inc. now owns 1,099,612 shares of the utilities provider's stock valued at $34,891,000 after acquiring an additional 14,030 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of CenterPoint Energy by 8.2% during the 4th quarter. Quadrant Capital Group LLC now owns 5,167 shares of the utilities provider's stock worth $164,000 after purchasing an additional 390 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of CenterPoint Energy during the fourth quarter worth about $5,957,000. Cinctive Capital Management LP raised its position in shares of CenterPoint Energy by 91.0% in the fourth quarter. Cinctive Capital Management LP now owns 383,080 shares of the utilities provider's stock valued at $12,155,000 after buying an additional 182,489 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of CenterPoint Energy by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 15,490,728 shares of the utilities provider's stock valued at $490,205,000 after buying an additional 406,832 shares during the period. Institutional investors and hedge funds own 91.77% of the company's stock.

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Analyst Ratings Changes

Several research analysts have weighed in on the company. Evercore ISI upgraded CenterPoint Energy from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $36.00 to $37.00 in a report on Tuesday, March 11th. Guggenheim downgraded CenterPoint Energy from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. BMO Capital Markets lifted their price target on CenterPoint Energy from $35.00 to $36.00 and gave the company a "market perform" rating in a report on Monday, March 17th. Jefferies Financial Group initiated coverage on shares of CenterPoint Energy in a research note on Wednesday, April 2nd. They set a "buy" rating and a $42.00 price objective for the company. Finally, Morgan Stanley boosted their target price on shares of CenterPoint Energy from $32.00 to $34.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $34.46.

CenterPoint Energy Stock Up 1.0 %

Shares of NYSE:CNP traded up $0.37 during trading on Friday, hitting $36.56. The company's stock had a trading volume of 8,296,724 shares, compared to its average volume of 5,538,779. The company has a market capitalization of $23.86 billion, a PE ratio of 22.99, a PEG ratio of 2.71 and a beta of 0.65. CenterPoint Energy, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $37.70. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.92 and a current ratio of 1.08. The stock's 50-day moving average price is $34.75 and its two-hundred day moving average price is $32.38.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.40. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates 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 expect that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

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.