Polymer Capital Management US LLC Makes New Investment in CenterPoint Energy, Inc. (NYSE:CNP)

Polymer Capital Management US LLC acquired a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 350,000 shares of the utilities provider's stock, valued at approximately $11,106,000. CenterPoint Energy accounts for approximately 3.0% of Polymer Capital Management US LLC's portfolio, making the stock its 6th biggest position. Polymer Capital Management US LLC owned 0.05% of CenterPoint Energy as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Benjamin Edwards Inc. boosted its holdings in CenterPoint Energy by 171.5% in the third quarter. Benjamin Edwards Inc. now owns 8,418 shares of the utilities provider's stock valued at $248,000 after purchasing an additional 5,318 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in shares of CenterPoint Energy in the 3rd quarter valued at $350,000. National Bank of Canada FI grew its position in shares of CenterPoint Energy by 135.0% in the 3rd quarter. National Bank of Canada FI now owns 586,529 shares of the utilities provider's stock valued at $17,255,000 after buying an additional 336,984 shares during the last quarter. XTX Topco Ltd acquired a new stake in CenterPoint Energy during the 3rd quarter worth $1,182,000. Finally, Nomura Asset Management Co. Ltd. lifted its position in CenterPoint Energy by 8.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 195,878 shares of the utilities provider's stock valued at $5,763,000 after acquiring an additional 15,211 shares during the last quarter. 91.77% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CNP. Morgan Stanley boosted their target price on CenterPoint Energy from $32.00 to $34.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Evercore ISI raised 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 report on Tuesday, March 11th. Barclays lifted their target price on shares of CenterPoint Energy from $29.00 to $30.00 and gave the company an "underweight" rating in a report on Monday, January 27th. JPMorgan Chase & Co. increased their price target on shares of CenterPoint Energy from $34.00 to $36.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 11th. Finally, Jefferies Financial Group initiated coverage on shares of CenterPoint Energy in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $42.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $34.46.

CenterPoint Energy Stock Up 1.0 %

NYSE CNP traded up $0.37 on Friday, hitting $36.56. 8,296,724 shares of the stock traded hands, compared to its average volume of 5,538,779. The company has a market capitalization of $23.86 billion, a P/E ratio of 22.99, a price-to-earnings-growth ratio of 2.71 and a beta of 0.65. The stock has a 50-day moving average of $34.75 and a 200 day moving average of $32.38. 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 $37.70.

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

About CenterPoint Energy

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.