CenterPoint Energy, Inc. (NYSE:CNP) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 1.8% in the fourth quarter, Holdings Channel reports. The fund owned 89,441 shares of the utilities provider’s stock after selling 1,648 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in CenterPoint Energy were worth $2,555,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Prime Capital Investment Advisors LLC increased its stake in shares of CenterPoint Energy by 8.5% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 20,403 shares of the utilities provider’s stock worth $583,000 after acquiring an additional 1,596 shares during the last quarter. Allworth Financial LP increased its stake in shares of CenterPoint Energy by 44.2% in the 4th quarter. Allworth Financial LP now owns 5,473 shares of the utilities provider’s stock worth $156,000 after acquiring an additional 1,678 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in shares of CenterPoint Energy in the 4th quarter worth $391,000. International Assets Investment Management LLC increased its stake in shares of CenterPoint Energy by 439.2% in the 4th quarter. International Assets Investment Management LLC now owns 128,599 shares of the utilities provider’s stock worth $36,740,000 after acquiring an additional 104,751 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in shares of CenterPoint Energy by 5.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 270,203 shares of the utilities provider’s stock worth $7,717,000 after acquiring an additional 14,036 shares during the last quarter. 91.77% of the stock is owned by institutional investors and hedge funds.

CenterPoint Energy Stock Performance

Shares of CenterPoint Energy stock opened at $27.95 on Friday. The business has a 50-day moving average of $27.89 and a 200 day moving average of $27.92. CenterPoint Energy, Inc. has a 12 month low of $25.42 and a 12 month high of $31.43. The stock has a market capitalization of $17.69 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 2.40 and a beta of 0.92. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.78 and a quick ratio of 0.58.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Tuesday, February 20th. The utilities provider reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. CenterPoint Energy had a return on equity of 10.44% and a net margin of 10.55%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same period last year, the business posted $0.28 EPS. As a group, sell-side analysts forecast that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Guggenheim lowered their price target on CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. KeyCorp increased their price target on CenterPoint Energy from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Thursday, January 4th. Evercore ISI cut CenterPoint Energy from an “outperform” rating to an “in-line” rating and increased their price target for the stock from $29.00 to $30.00 in a report on Tuesday, January 23rd. Barclays increased their price target on CenterPoint Energy from $28.00 to $29.00 and gave the stock an “underweight” rating in a report on Thursday, March 14th. Finally, Mizuho reiterated a “neutral” rating and set a $29.00 price target (down from $30.00) on shares of CenterPoint Energy in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, CenterPoint Energy presently has an average rating of “Hold” and a consensus target price of $30.30.

CenterPoint Energy Company 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.