Resona Asset Management Co. Ltd. Takes Position in CenterPoint Energy, Inc. (NYSE:CNP)

Resona Asset Management Co. Ltd. bought a new stake in shares of CenterPoint Energy, Inc. (NYSE:CNP - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 187,342 shares of the utilities provider's stock, valued at approximately $5,957,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. lifted its stake in shares of CenterPoint Energy by 3.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,907 shares of the utilities provider's stock worth $378,000 after acquiring an additional 416 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in CenterPoint Energy by 3.2% in the fourth quarter. Farther Finance Advisors LLC now owns 13,909 shares of the utilities provider's stock valued at $441,000 after acquiring an additional 432 shares in the last quarter. Signature Estate & Investment Advisors LLC raised its stake in shares of CenterPoint Energy by 5.0% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 9,740 shares of the utilities provider's stock valued at $309,000 after purchasing an additional 461 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in CenterPoint Energy by 53.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,392 shares of the utilities provider's stock worth $44,000 after acquiring an additional 482 shares during the period. Finally, M&T Bank Corp grew its position in CenterPoint Energy by 1.2% in the 3rd quarter. M&T Bank Corp now owns 40,054 shares of the utilities provider's stock worth $1,178,000 after purchasing an additional 489 shares during the last quarter. Hedge funds and other institutional investors own 91.77% of the company's stock.

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CenterPoint Energy Stock Up 1.2 %

Shares of CenterPoint Energy stock traded up $0.43 during trading on Monday, hitting $37.01. 891,334 shares of the stock traded hands, compared to its average volume of 5,528,280. The stock has a market cap of $24.16 billion, a P/E ratio of 23.28, a PEG ratio of 2.71 and a beta of 0.65. The company has a fifty day moving average price of $34.75 and a two-hundred day moving average price of $32.40. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.92 and a current ratio of 1.08. 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 announced its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. CenterPoint Energy had a net margin of 11.79% and a return on equity of 10.02%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.46 billion. Equities research analysts predict that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group initiated coverage on CenterPoint Energy in a report on Wednesday, April 2nd. They set a "buy" rating and a $42.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of CenterPoint Energy from $34.00 to $36.00 and gave the company a "neutral" rating in a research note on Tuesday, March 11th. Morgan Stanley lifted their price target on shares of CenterPoint Energy from $32.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Guggenheim lowered CenterPoint Energy from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. Finally, Barclays boosted their price objective on CenterPoint Energy from $29.00 to $30.00 and gave the stock an "underweight" rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, CenterPoint Energy currently has a consensus rating of "Hold" and an average price target of $34.46.

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.