Raymond James & Associates Purchases 256,820 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Raymond James & Associates increased its position in CenterPoint Energy, Inc. (NYSE:CNPFree Report) by 27.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,209,630 shares of the utilities provider’s stock after buying an additional 256,820 shares during the period. Raymond James & Associates’ holdings in CenterPoint Energy were worth $34,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. increased its holdings in shares of CenterPoint Energy by 68.2% during the 1st quarter. Invesco Ltd. now owns 7,638,179 shares of the utilities provider’s stock worth $234,036,000 after purchasing an additional 3,096,455 shares during the period. State Street Corp increased its holdings in shares of CenterPoint Energy by 10.0% during the 1st quarter. State Street Corp now owns 33,279,592 shares of the utilities provider’s stock worth $1,019,687,000 after purchasing an additional 3,035,409 shares during the period. Norges Bank bought a new position in shares of CenterPoint Energy during the 4th quarter worth about $88,736,000. California Public Employees Retirement System increased its holdings in shares of CenterPoint Energy by 175.3% during the 3rd quarter. California Public Employees Retirement System now owns 3,618,686 shares of the utilities provider’s stock worth $97,162,000 after purchasing an additional 2,304,183 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of CenterPoint Energy by 42.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,348,720 shares of the utilities provider’s stock worth $187,034,000 after purchasing an additional 1,898,199 shares during the period. Institutional investors own 91.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CNP has been the topic of several research reports. TheStreet upgraded shares of CenterPoint Energy from a “c+” rating to a “b” rating in a report on Tuesday, December 12th. Guggenheim lowered their target price on shares of CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. KeyCorp upped their target price on shares of CenterPoint Energy from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, January 4th. Mizuho reissued a “neutral” rating and issued a $29.00 target price (down previously from $30.00) on shares of CenterPoint Energy in a research note on Wednesday, February 21st. Finally, Evercore ISI cut shares of CenterPoint Energy from an “outperform” rating to an “in-line” rating and upped their target price for the company from $29.00 to $30.00 in a research note on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.73.

Read Our Latest Analysis on CenterPoint Energy

CenterPoint Energy Price Performance

Shares of CenterPoint Energy stock opened at $28.49 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.58 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $18.04 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 2.32 and a beta of 0.92. CenterPoint Energy, Inc. has a 1-year low of $25.42 and a 1-year high of $31.43. The firm’s 50-day moving average price is $27.83 and its two-hundred day moving average price is $27.95.

CenterPoint Energy (NYSE:CNPGet Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.83 billion. CenterPoint Energy had a net margin of 10.55% and a return on equity of 10.44%. During the same period in the prior year, the firm earned $0.28 earnings per share. On average, equities analysts predict that CenterPoint Energy, Inc. will post 1.63 earnings per share for the current fiscal year.

About CenterPoint Energy

(Free Report)

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.

See Also

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

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