Sanders Morris Harris LLC lessened its position in CenterPoint Energy, Inc. (NYSE:CNP) by 10.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,800 shares of the utilities provider’s stock after selling 20,250 shares during the period. CenterPoint Energy comprises 2.6% of Sanders Morris Harris LLC’s portfolio, making the stock its 9th largest holding. Sanders Morris Harris LLC’s holdings in CenterPoint Energy were worth $5,397,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Kaizen Advisory LLC raised its position in shares of CenterPoint Energy by 33.4% in the fourth quarter. Kaizen Advisory LLC now owns 1,350 shares of the utilities provider’s stock valued at $38,000 after buying an additional 338 shares during the last quarter. IBM Retirement Fund raised its position in shares of CenterPoint Energy by 5.1% in the fourth quarter. IBM Retirement Fund now owns 7,660 shares of the utilities provider’s stock valued at $216,000 after buying an additional 375 shares during the last quarter. HL Financial Services LLC grew its holdings in CenterPoint Energy by 5.4% in the fourth quarter. HL Financial Services LLC now owns 7,853 shares of the utilities provider’s stock valued at $222,000 after purchasing an additional 400 shares during the period. Gs Investments Inc. grew its holdings in CenterPoint Energy by 2.2% in the fourth quarter. Gs Investments Inc. now owns 22,375 shares of the utilities provider’s stock valued at $632,000 after purchasing an additional 475 shares during the period. Finally, Ropes Wealth Advisors LLC grew its holdings in CenterPoint Energy by 8.1% in the first quarter. Ropes Wealth Advisors LLC now owns 6,565 shares of the utilities provider’s stock valued at $202,000 after purchasing an additional 490 shares during the period. 81.41% of the stock is owned by institutional investors and hedge funds.
CNP traded up $0.28 during trading on Friday, hitting $30.29. 3,800,144 shares of the company’s stock were exchanged, compared to its average volume of 4,704,786. The company has a quick ratio of 2.01, a current ratio of 2.13 and a debt-to-equity ratio of 1.37. CenterPoint Energy, Inc. has a 1 year low of $24.81 and a 1 year high of $31.42. The company has a market cap of $15.19 billion, a P/E ratio of 18.93, a P/E/G ratio of 3.55 and a beta of 0.46.
In other CenterPoint Energy news, insider Milton Carroll sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $30.21, for a total transaction of $2,265,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott M. Prochazka sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $30.72, for a total transaction of $122,880.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 132,000 shares of company stock valued at $3,983,610. 0.24% of the stock is owned by insiders.
A number of equities research analysts recently issued reports on the stock. Goldman Sachs Group assumed coverage on shares of CenterPoint Energy in a report on Monday, February 25th. They issued a “buy” rating and a $34.00 target price for the company. ValuEngine upgraded shares of CenterPoint Energy from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Zacks Investment Research downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. Credit Suisse Group set a $32.00 target price on shares of CenterPoint Energy and gave the company a “buy” rating in a report on Friday, March 1st. Finally, Wells Fargo & Co restated a “buy” rating on shares of CenterPoint Energy in a report on Thursday, February 28th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. CenterPoint Energy has a consensus rating of “Buy” and an average price target of $31.60.
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CenterPoint Energy Company Profile
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.
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