Zacks Investment Management Increases Stake in CenterPoint Energy, Inc. (CNP)

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Zacks Investment Management grew its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 37.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 437,500 shares of the utilities provider’s stock after buying an additional 118,200 shares during the period. Zacks Investment Management’s holdings in CenterPoint Energy were worth $12,351,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CNP. Financial Architects Inc purchased a new position in shares of CenterPoint Energy in the 4th quarter worth about $28,000. PRW Wealth Management LLC purchased a new position in shares of CenterPoint Energy in the 4th quarter worth about $29,000. Claybrook Capital LLC purchased a new position in shares of CenterPoint Energy in the 4th quarter worth about $31,000. Sound Income Strategies LLC raised its position in shares of CenterPoint Energy by 793.7% in the 4th quarter. Sound Income Strategies LLC now owns 1,126 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of CenterPoint Energy by 89.4% in the 4th quarter. Parallel Advisors LLC now owns 1,352 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 638 shares during the last quarter. Hedge funds and other institutional investors own 80.04% of the company’s stock.

A number of brokerages have weighed in on CNP. UBS Group raised CenterPoint Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $30.00 to $34.00 in a research report on Thursday, December 13th. Wells Fargo & Co reissued a “buy” rating on shares of CenterPoint Energy in a research report on Monday, December 24th. Guggenheim raised CenterPoint Energy from a “neutral” rating to a “buy” rating in a research report on Monday, January 7th. Zacks Investment Research raised CenterPoint Energy from a “hold” rating to a “strong-buy” rating and set a $33.00 target price for the company in a research report on Tuesday, January 8th. Finally, Royal Bank of Canada raised CenterPoint Energy from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $29.00 to $34.00 in a research report on Friday, January 18th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $31.18.

Shares of CenterPoint Energy stock traded down $0.07 during trading hours on Tuesday, reaching $30.51. 35,463 shares of the stock traded hands, compared to its average volume of 4,961,641. The company has a market cap of $15.33 billion, a P/E ratio of 19.06, a P/E/G ratio of 3.56 and a beta of 0.46. CenterPoint Energy, Inc. has a one year low of $24.81 and a one year high of $31.42. The company has a quick ratio of 2.01, a current ratio of 2.13 and a debt-to-equity ratio of 1.37.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Thursday, February 28th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.02. CenterPoint Energy had a return on equity of 14.16% and a net margin of 3.48%. During the same quarter in the prior year, the company posted $0.33 earnings per share. Research analysts anticipate that CenterPoint Energy, Inc. will post 1.64 EPS for the current fiscal year.

In related news, CEO Scott M. Prochazka sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $30.72, for a total transaction of $122,880.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Milton Carroll sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $30.21, for a total value of $2,265,750.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 129,000 shares of company stock valued at $3,881,030. 0.22% of the stock is currently owned by corporate insiders.

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CenterPoint Energy 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.

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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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