Toroso Investments LLC Reduces Stock Position in CenterPoint Energy, Inc. (NYSE:CNP)

Toroso Investments LLC reduced its position in shares of CenterPoint Energy, Inc. (NYSE:CNP – Get Rating) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,939 shares of the utilities provider’s stock after selling 657 shares during the period. Toroso Investments LLC’s holdings in CenterPoint Energy were worth $1,097,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of CenterPoint Energy by 0.8% during the third quarter. Vanguard Group Inc. now owns 75,929,134 shares of the utilities provider’s stock worth $2,139,684,000 after purchasing an additional 631,836 shares during the period. State Street Corp boosted its holdings in shares of CenterPoint Energy by 1.9% during the 3rd quarter. State Street Corp now owns 34,833,478 shares of the utilities provider’s stock valued at $981,607,000 after buying an additional 657,742 shares in the last quarter. Boston Partners boosted its holdings in shares of CenterPoint Energy by 4.3% during the 3rd quarter. Boston Partners now owns 25,064,554 shares of the utilities provider’s stock valued at $706,292,000 after buying an additional 1,041,949 shares in the last quarter. Pictet Asset Management SA boosted its holdings in shares of CenterPoint Energy by 19.2% during the 3rd quarter. Pictet Asset Management SA now owns 9,068,600 shares of the utilities provider’s stock valued at $255,553,000 after buying an additional 1,461,593 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of CenterPoint Energy by 3.4% during the 3rd quarter. Jennison Associates LLC now owns 8,548,433 shares of the utilities provider’s stock valued at $240,895,000 after buying an additional 283,119 shares in the last quarter. 90.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $33.00 target price on shares of CenterPoint Energy in a report on Monday, March 6th. Guggenheim cut shares of CenterPoint Energy from a “buy” rating to a “neutral” rating and boosted their target price for the company from $31.00 to $32.00 in a report on Monday, January 23rd. StockNews.com initiated coverage on shares of CenterPoint Energy in a report on Thursday. They set a “hold” rating on the stock. Morgan Stanley lowered their price target on CenterPoint Energy from $31.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, February 22nd. Finally, Wells Fargo & Company lifted their price target on CenterPoint Energy to $35.00 in a research report on Wednesday, December 14th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.78.

CenterPoint Energy Price Performance

NYSE CNP opened at $29.05 on Friday. CenterPoint Energy, Inc. has a one year low of $25.03 and a one year high of $33.50. The stock has a 50-day moving average of $29.35 and a 200 day moving average of $29.63. The company has a market capitalization of $18.33 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 2.79 and a beta of 0.87. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.75 and a current ratio of 0.92.

CenterPoint Energy (NYSE:CNP – Get Rating) last released its quarterly earnings data on Friday, February 17th. The utilities provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). CenterPoint Energy had a return on equity of 9.88% and a net margin of 11.21%. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the business posted $0.36 earnings per share. On average, sell-side analysts forecast that CenterPoint Energy, Inc. will post 1.49 EPS for the current year.

CenterPoint Energy Company Profile

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CenterPoint Energy, Inc is a holding company, which engages in the business of power generation and distribution. It operates through the following segments: CenterPoint Energy, Houston Electric, and CERC. The CenterPoint Energy segment consists of electric transmission and distribution services in the Texas gulf coast area in the ERCOT region and electric transmission and distribution services primarily to southwestern Indiana and includes power generation and wholesale power operations in the MISO region.