Tredje AP fonden Sells 49,191 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Tredje AP fonden cut its position in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 50.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,192 shares of the utilities provider's stock after selling 49,191 shares during the quarter. Tredje AP fonden's holdings in CenterPoint Energy were worth $1,561,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CNP. Raymond James Financial Inc. bought a new position in shares of CenterPoint Energy in the fourth quarter valued at $97,348,000. Jacobs Levy Equity Management Inc. grew its stake in shares of CenterPoint Energy by 566.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,744,742 shares of the utilities provider's stock valued at $51,330,000 after buying an additional 1,482,966 shares in the last quarter. Zimmer Partners LP grew its stake in shares of CenterPoint Energy by 98.1% in the third quarter. Zimmer Partners LP now owns 1,536,640 shares of the utilities provider's stock valued at $45,208,000 after buying an additional 760,956 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of CenterPoint Energy by 2.5% in the third quarter. Geode Capital Management LLC now owns 15,083,896 shares of the utilities provider's stock valued at $442,231,000 after buying an additional 370,790 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in shares of CenterPoint Energy by 135.0% in the third 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 in the last quarter. 91.77% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Guggenheim cut shares of CenterPoint Energy from a "buy" rating to a "neutral" rating in a research report on Thursday, January 23rd. UBS Group raised shares of CenterPoint Energy from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $31.00 to $37.00 in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their price objective on shares of CenterPoint Energy from $34.00 to $36.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 11th. Evercore ISI raised shares of CenterPoint Energy from an "in-line" rating to an "outperform" rating and lifted their price objective for the stock from $36.00 to $37.00 in a research report on Tuesday, March 11th. Finally, Barclays lifted their price objective on shares of CenterPoint Energy from $29.00 to $30.00 and gave the stock an "underweight" rating in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $33.50.

CenterPoint Energy Price Performance

CNP stock traded up $0.22 during midday trading on Wednesday, reaching $35.88. The company had a trading volume of 4,406,109 shares, compared to its average volume of 5,187,387. The company has a market capitalization of $23.42 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. The stock has a 50 day moving average price of $33.21 and a 200-day moving average price of $31.30. CenterPoint Energy, Inc. has a 1-year low of $25.41 and a 1-year high of $35.91. 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 (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 analysts' consensus estimates of $0.40. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.46 billion. CenterPoint Energy had a return on equity of 10.02% and a net margin of 11.79%. Equities research analysts expect that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current 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.