CenterPoint Energy, Inc. (NYSE:CNP) Stock Position Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 2.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 520,883 shares of the utilities provider’s stock after selling 10,789 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CenterPoint Energy were worth $14,882,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Bleakley Financial Group LLC raised its holdings in CenterPoint Energy by 13.8% during the fourth quarter. Bleakley Financial Group LLC now owns 18,771 shares of the utilities provider’s stock worth $536,000 after purchasing an additional 2,271 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of CenterPoint Energy by 27.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 174,780 shares of the utilities provider’s stock worth $4,993,000 after buying an additional 37,380 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in shares of CenterPoint Energy by 8.5% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 20,403 shares of the utilities provider’s stock valued at $583,000 after buying an additional 1,596 shares during the period. Allworth Financial LP boosted its stake in CenterPoint Energy by 44.2% during the fourth quarter. Allworth Financial LP now owns 5,473 shares of the utilities provider’s stock valued at $156,000 after buying an additional 1,678 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new position in CenterPoint Energy during the fourth quarter worth about $391,000. 91.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CNP has been the subject of a number of research analyst reports. Guggenheim cut their price target on shares of CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Barclays increased their target price on shares of CenterPoint Energy from $28.00 to $29.00 and gave the company an “underweight” rating in a research note on Thursday, March 14th. Mizuho restated a “neutral” rating and issued a $29.00 price target (down previously from $30.00) on shares of CenterPoint Energy in a research report on Wednesday, February 21st. Evercore ISI downgraded CenterPoint Energy from an “outperform” rating to an “in-line” rating and increased their price objective for the company from $29.00 to $30.00 in a research report on Tuesday, January 23rd. Finally, KeyCorp raised their price objective on CenterPoint Energy from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.30.

CenterPoint Energy Trading Down 0.2 %

NYSE CNP opened at $27.40 on Tuesday. The firm’s 50 day moving average price is $27.89 and its two-hundred day moving average price is $27.91. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.58 and a current ratio of 0.78. CenterPoint Energy, Inc. has a twelve month low of $25.42 and a twelve month high of $31.43. The stock has a market cap of $17.35 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.42 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Tuesday, February 20th. The utilities provider reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.83 billion. CenterPoint Energy had a return on equity of 10.44% and a net margin of 10.55%. During the same quarter last year, the firm posted $0.28 earnings per share. Equities analysts anticipate that CenterPoint Energy, Inc. will post 1.62 EPS for the current year.

CenterPoint Energy Profile

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.