CenterPoint Energy, Inc. (NYSE:CNP) Position Lowered by National Bank of Canada FI

National Bank of Canada FI cut its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 16.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 488,445 shares of the utilities provider’s stock after selling 98,084 shares during the period. National Bank of Canada FI owned about 0.07% of CenterPoint Energy worth $15,505,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CNP. J.Safra Asset Management Corp bought a new stake in CenterPoint Energy during the fourth quarter worth approximately $28,000. Wilmington Savings Fund Society FSB acquired a new position in CenterPoint Energy during the third quarter valued at $26,000. Assetmark Inc. lifted its position in shares of CenterPoint Energy by 657.1% in the fourth quarter. Assetmark Inc. now owns 901 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 782 shares in the last quarter. VSM Wealth Advisory LLC purchased a new position in shares of CenterPoint Energy during the 4th quarter valued at $32,000. Finally, BankPlus Trust Department acquired a new position in CenterPoint Energy in the 4th quarter worth about $40,000. 91.77% of the stock is currently owned by institutional investors and hedge funds.

CenterPoint Energy Trading Down 3.3 %

CNP opened at $36.14 on Friday. The firm has a market capitalization of $23.59 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 2.71 and a beta of 0.65. CenterPoint Energy, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $37.70. The company’s 50 day moving average price is $34.26 and its two-hundred day moving average price is $32.01. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.08 and a quick ratio of 0.92.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Thursday, February 20th. The utilities provider reported $0.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.40. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.46 billion. CenterPoint Energy had a return on equity of 10.02% and a net margin of 11.79%. As a group, research analysts predict that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CNP shares. Scotiabank raised CenterPoint Energy from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $30.00 to $35.00 in a research report on Thursday, December 12th. Morgan Stanley raised their price objective on shares of CenterPoint Energy from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. raised their price objective on CenterPoint Energy from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 11th. Evercore ISI raised shares of CenterPoint Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $36.00 to $37.00 in a report on Tuesday, March 11th. Finally, Barclays boosted their price target on CenterPoint Energy from $29.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $34.46.

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.