Gradient Investments LLC lessened its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 22.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 258,974 shares of the utilities provider’s stock after selling 74,346 shares during the quarter. Gradient Investments LLC’s holdings in CenterPoint Energy were worth $7,951,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CNP. Vanguard Group Inc grew its holdings in shares of CenterPoint Energy by 10.6% during the third quarter. Vanguard Group Inc now owns 54,775,862 shares of the utilities provider’s stock worth $1,514,553,000 after purchasing an additional 5,270,138 shares in the last quarter. BlackRock Inc. grew its holdings in shares of CenterPoint Energy by 2.1% during the fourth quarter. BlackRock Inc. now owns 50,135,104 shares of the utilities provider’s stock worth $1,415,315,000 after purchasing an additional 1,025,294 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of CenterPoint Energy by 16.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,788,204 shares of the utilities provider’s stock worth $219,860,000 after purchasing an additional 1,103,691 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of CenterPoint Energy by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 7,131,126 shares of the utilities provider’s stock worth $200,993,000 after purchasing an additional 550,475 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of CenterPoint Energy by 114.6% during the fourth quarter. FMR LLC now owns 6,472,243 shares of the utilities provider’s stock worth $182,711,000 after purchasing an additional 3,456,131 shares in the last quarter. 81.37% of the stock is owned by institutional investors and hedge funds.

CenterPoint Energy stock traded down $0.03 during trading hours on Thursday, hitting $30.17. 174,691 shares of the stock traded hands, compared to its average volume of 4,181,056. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.01 and a current ratio of 2.13. The company has a market cap of $15.14 billion, a PE ratio of 18.85, a PEG ratio of 3.52 and a beta of 0.46. CenterPoint Energy, Inc. has a 1 year low of $24.81 and a 1 year high of $31.42.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Thursday, February 28th. The utilities provider reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.66 billion. CenterPoint Energy had a return on equity of 14.16% and a net margin of 3.48%. During the same quarter in the previous year, the business earned $0.33 EPS. As a group, analysts predict that CenterPoint Energy, Inc. will post 1.64 EPS for the current fiscal year.

Several brokerages have recently commented on CNP. Goldman Sachs Group began coverage on CenterPoint Energy in a report on Monday, February 25th. They set a “buy” rating and a $34.00 price objective for the company. ValuEngine upgraded CenterPoint Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. Credit Suisse Group set a $32.00 target price on CenterPoint Energy and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, Wells Fargo & Co restated a “buy” rating on shares of CenterPoint Energy in a research note on Thursday, February 28th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $31.60.

In other CenterPoint Energy news, insider Milton Carroll sold 75,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $30.21, for a total transaction of $2,265,750.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott M. Prochazka sold 4,000 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $30.72, for a total value of $122,880.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 132,000 shares of company stock worth $3,983,610. Company insiders own 0.24% of the company’s stock.

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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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