CenterPoint Energy, Inc. (CNP) Holdings Trimmed by Gradient Investments LLC
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.
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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