180 Wealth Advisors LLC boosted its position in CenterPoint Energy, Inc. (NYSE:CNP) by 28.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 29,087 shares of the utilities provider’s stock after purchasing an additional 6,394 shares during the period. 180 Wealth Advisors LLC’s holdings in CenterPoint Energy were worth $785,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of CNP. Vestmark Advisory Solutions Inc. lifted its position in CenterPoint Energy by 2.5% in the second quarter. Vestmark Advisory Solutions Inc. now owns 15,056 shares of the utilities provider’s stock valued at $431,000 after purchasing an additional 368 shares during the last quarter. Shulman DeMeo Asset Management LLC raised its holdings in CenterPoint Energy by 3.2% in the third quarter. Shulman DeMeo Asset Management LLC now owns 12,331 shares of the utilities provider’s stock worth $372,000 after purchasing an additional 378 shares in the last quarter. CENTRAL TRUST Co raised its holdings in CenterPoint Energy by 12.5% in the third quarter. CENTRAL TRUST Co now owns 3,521 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 390 shares in the last quarter. Moody National Bank Trust Division raised its holdings in CenterPoint Energy by 1.8% in the third quarter. Moody National Bank Trust Division now owns 25,317 shares of the utilities provider’s stock worth $764,000 after purchasing an additional 457 shares in the last quarter. Finally, State of Michigan Retirement System raised its holdings in CenterPoint Energy by 0.4% in the third quarter. State of Michigan Retirement System now owns 120,762 shares of the utilities provider’s stock worth $3,645,000 after purchasing an additional 500 shares in the last quarter. 80.04% of the stock is owned by institutional investors and hedge funds.
CNP has been the subject of a number of research reports. Barclays downgraded CenterPoint Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, November 27th. Morgan Stanley reissued a “hold” rating and issued a $27.00 target price (down from $31.00) on shares of CenterPoint Energy in a research note on Monday, November 18th. Zacks Investment Research cut CenterPoint Energy from a “hold” rating to a “strong sell” rating and set a $23.00 target price on the stock. in a research note on Friday, January 3rd. Guggenheim raised CenterPoint Energy from a “neutral” rating to a “buy” rating and set a $29.00 target price on the stock in a research note on Tuesday. Finally, Wells Fargo & Co cut CenterPoint Energy from an “outperform” rating to a “market perform” rating and set a $26.00 target price on the stock. in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $28.14.
Shares of CenterPoint Energy stock traded down $0.12 during trading on Friday, hitting $26.93. 56,244 shares of the company’s stock traded hands, compared to its average volume of 4,711,554. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.99 and a quick ratio of 0.83. CenterPoint Energy, Inc. has a 1 year low of $24.25 and a 1 year high of $31.42. The stock has a market capitalization of $13.39 billion, a P/E ratio of 16.85, a PEG ratio of 3.38 and a beta of 0.44. The business has a 50-day simple moving average of $26.11 and a 200-day simple moving average of $27.87.
CenterPoint Energy (NYSE:CNP) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.10. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.91 billion. CenterPoint Energy had a return on equity of 14.51% and a net margin of 6.23%. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. On average, equities analysts predict that CenterPoint Energy, Inc. will post 1.68 earnings per share for the current fiscal year.
In other CenterPoint Energy news, CEO Scott M. Prochazka sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $24.50, for a total value of $171,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 21,000 shares of company stock worth $562,450 over the last three months. Insiders own 0.24% of the company’s stock.
CenterPoint Energy Company Profile
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
Read More: Dividend Reinvestment Plan (DRIP)
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