CenterPoint Energy, Inc. (NYSE:CNP) Position Reduced by Old Port Advisors

Old Port Advisors decreased its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 3.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,610 shares of the utilities provider’s stock after selling 607 shares during the period. Old Port Advisors’ holdings in CenterPoint Energy were worth $445,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in CenterPoint Energy during the 1st quarter worth approximately $25,000. Global Retirement Partners LLC grew its position in CenterPoint Energy by 163.7% during the 4th quarter. Global Retirement Partners LLC now owns 894 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 555 shares in the last quarter. FinTrust Capital Advisors LLC grew its position in CenterPoint Energy by 60.3% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 452 shares in the last quarter. Tobam purchased a new position in CenterPoint Energy during the 1st quarter worth approximately $35,000. Finally, ICA Group Wealth Management LLC purchased a new position in CenterPoint Energy during the 4th quarter worth approximately $43,000. Institutional investors own 91.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CNP shares. Morgan Stanley cut shares of CenterPoint Energy from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $30.00 to $29.00 in a research report on Wednesday, July 17th. Scotiabank lowered their price target on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. StockNews.com upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Wednesday. KeyCorp cut shares of CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a report on Friday. Finally, BMO Capital Markets cut shares of CenterPoint Energy from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $31.00 to $28.00 in a report on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $29.90.

CenterPoint Energy Stock Performance

CenterPoint Energy stock traded down $1.08 on Friday, reaching $27.07. 13,867,540 shares of the stock were exchanged, compared to its average volume of 7,488,031. The stock has a market cap of $17.38 billion, a PE ratio of 19.06, a PEG ratio of 2.48 and a beta of 0.92. The company has a current ratio of 1.20, a quick ratio of 1.06 and a debt-to-equity ratio of 1.79. CenterPoint Energy, Inc. has a twelve month low of $25.42 and a twelve month high of $31.57. The firm has a fifty day moving average price of $29.89 and a two-hundred day moving average price of $28.86.

CenterPoint Energy (NYSE:CNP) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. During the same quarter in the previous year, the business earned $0.28 EPS. Sell-side analysts anticipate that CenterPoint Energy, Inc. will post 1.62 EPS for the current year.

About CenterPoint Energy

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.