Nisa Investment Advisors LLC reduced its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 5.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 245,840 shares of the utilities provider’s stock after selling 13,404 shares during the period. Nisa Investment Advisors LLC’s holdings in CenterPoint Energy were worth $7,547,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Flagship Harbor Advisors LLC raised its position in shares of CenterPoint Energy by 174.6% during the 1st quarter. Flagship Harbor Advisors LLC now owns 950 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 604 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of CenterPoint Energy during the 1st quarter valued at approximately $3,271,000. Ropes Wealth Advisors LLC raised its position in shares of CenterPoint Energy by 8.1% during the 1st quarter. Ropes Wealth Advisors LLC now owns 6,565 shares of the utilities provider’s stock valued at $202,000 after acquiring an additional 490 shares in the last quarter. Sciencast Management LP acquired a new stake in CenterPoint Energy in the first quarter worth $746,000. Finally, Retirement Systems of Alabama increased its position in CenterPoint Energy by 3.0% in the first quarter. Retirement Systems of Alabama now owns 233,375 shares of the utilities provider’s stock worth $7,165,000 after buying an additional 6,697 shares during the period. 81.41% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on the company. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. ValuEngine lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. Wells Fargo & Co reaffirmed a “buy” rating on shares of CenterPoint Energy in a research report on Thursday, February 28th. Royal Bank of Canada raised CenterPoint Energy from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $29.00 to $34.00 in a research report on Friday, January 18th. Finally, Guggenheim raised CenterPoint Energy from a “neutral” rating to a “buy” rating in a research report on Monday, January 7th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. CenterPoint Energy has a consensus rating of “Buy” and an average price target of $31.60.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Thursday, February 28th. The utilities provider reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.66 billion. CenterPoint Energy had a return on equity of 14.16% and a net margin of 3.48%. During the same period last year, the company earned $0.33 earnings per share. Sell-side analysts anticipate that CenterPoint Energy, Inc. will post 1.64 EPS for the current year.
In other news, CEO Scott M. Prochazka sold 4,000 shares of the firm’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $30.72, for a total transaction of $122,880.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Milton Carroll sold 40,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $30.02, for a total value of $1,200,800.00. The disclosure for this sale can be found here. Insiders have sold 132,000 shares of company stock worth $3,983,610 over the last three months. Corporate insiders own 0.24% of the company’s stock.
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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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