CenterPoint Energy, Inc. (NYSE:CNP) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 520,883 shares of the utilities provider’s stock after selling 10,789 shares during the period. Allspring Global Investments Holdings LLC owned 0.08% of CenterPoint Energy worth $14,882,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. boosted its holdings in shares of CenterPoint Energy by 302.6% in the fourth quarter. Pacer Advisors Inc. now owns 159,772 shares of the utilities provider’s stock valued at $4,565,000 after acquiring an additional 120,085 shares in the last quarter. Raymond James & Associates boosted its holdings in CenterPoint Energy by 27.0% in the 4th quarter. Raymond James & Associates now owns 1,209,630 shares of the utilities provider’s stock valued at $34,559,000 after purchasing an additional 256,820 shares in the last quarter. UBS Group AG increased its position in CenterPoint Energy by 37.5% during the 3rd quarter. UBS Group AG now owns 1,540,465 shares of the utilities provider’s stock worth $41,361,000 after purchasing an additional 420,010 shares during the period. Beach Investment Counsel Inc. PA raised its stake in shares of CenterPoint Energy by 32.5% during the 4th quarter. Beach Investment Counsel Inc. PA now owns 416,957 shares of the utilities provider’s stock worth $11,912,000 after buying an additional 102,271 shares in the last quarter. Finally, Dark Forest Capital Management LP lifted its holdings in shares of CenterPoint Energy by 202.0% in the 3rd quarter. Dark Forest Capital Management LP now owns 27,903 shares of the utilities provider’s stock valued at $749,000 after buying an additional 18,664 shares during the period. 91.77% of the stock is owned by institutional investors and hedge funds.

CenterPoint Energy Stock Performance

Shares of CNP stock opened at $27.40 on Tuesday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.58 and a current ratio of 0.78. The firm has a market capitalization of $17.35 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 2.42 and a beta of 0.92. CenterPoint Energy, Inc. has a one year low of $25.42 and a one year high of $31.43. The company has a 50 day moving average price of $27.89 and a 200 day moving average price of $27.91.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Mizuho reaffirmed a “neutral” rating and set a $29.00 price objective (down previously from $30.00) on shares of CenterPoint Energy in a report on Wednesday, February 21st. KeyCorp raised their price target on CenterPoint Energy from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. Evercore ISI downgraded CenterPoint Energy from an “outperform” rating to an “in-line” rating and upped their price objective for the company from $29.00 to $30.00 in a research report on Tuesday, January 23rd. Guggenheim dropped their price objective on CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Finally, Barclays upped their target price on shares of CenterPoint Energy from $28.00 to $29.00 and gave the company an “underweight” rating in a report on Thursday, March 14th. Two investment 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. Based on data from MarketBeat, CenterPoint Energy currently has a consensus rating of “Hold” and an average 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.