Intech Investment Management LLC Reduces Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Intech Investment Management LLC trimmed its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 88.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,163 shares of the utilities provider’s stock after selling 232,851 shares during the period. Intech Investment Management LLC’s holdings in CenterPoint Energy were worth $957,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its position in shares of CenterPoint Energy by 51.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 375 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of CenterPoint Energy by 3.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,907 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 416 shares during the period. Farther Finance Advisors LLC lifted its position in shares of CenterPoint Energy by 3.2% in the 4th quarter. Farther Finance Advisors LLC now owns 13,909 shares of the utilities provider’s stock worth $441,000 after purchasing an additional 432 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of CenterPoint Energy by 53.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,392 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 482 shares during the period. Finally, M&T Bank Corp lifted its position in shares of 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 period. 91.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. BMO Capital Markets raised their target price on shares of CenterPoint Energy from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, March 17th. JPMorgan Chase & Co. lifted their price target on shares of CenterPoint Energy from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. Morgan Stanley lifted their price target on shares of CenterPoint Energy from $32.00 to $34.00 and gave the company an “equal weight” rating in a research report on Thursday. Barclays lifted their price target on shares of CenterPoint Energy from $29.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, January 27th. Finally, Scotiabank raised shares of CenterPoint Energy from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $30.00 to $35.00 in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $33.77.

CenterPoint Energy Stock Down 0.5 %

Shares of CenterPoint Energy stock opened at $35.77 on Friday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.92 and a current ratio of 1.08. The stock has a market capitalization of $23.34 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. CenterPoint Energy, Inc. has a 52-week low of $25.41 and a 52-week high of $36.19. The company has a 50-day simple moving average of $33.49 and a two-hundred day simple moving average of $31.45.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Thursday, February 20th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.46 billion. CenterPoint Energy had a net margin of 11.79% and a return on equity of 10.02%. On average, analysts anticipate that CenterPoint Energy, Inc. will post 1.75 EPS 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.