Intech Investment Management LLC Trims Position in CenterPoint Energy, Inc. (NYSE:CNP)

Intech Investment Management LLC trimmed its position in CenterPoint Energy, Inc. (NYSE:CNP) by 88.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,163 shares of the utilities provider’s stock after selling 232,851 shares during the period. Intech Investment Management LLC’s holdings in CenterPoint Energy were worth $957,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of CenterPoint Energy by 3.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,484,528 shares of the utilities provider’s stock worth $47,104,000 after buying an additional 42,578 shares during the last quarter. DRW Securities LLC purchased a new position in shares of CenterPoint Energy during the 3rd quarter worth $908,000. Custom Index Systems LLC bought a new stake in shares of CenterPoint Energy during the 4th quarter valued at $265,000. Atria Investments Inc increased its stake in shares of CenterPoint Energy by 57.1% in the 4th quarter. Atria Investments Inc now owns 34,577 shares of the utilities provider’s stock worth $1,097,000 after purchasing an additional 12,563 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in CenterPoint Energy in the 3rd quarter worth $705,000. 91.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on CNP. Evercore ISI upgraded CenterPoint Energy from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $36.00 to $37.00 in a research report on Tuesday, March 11th. JPMorgan Chase & Co. increased their target price on shares of CenterPoint Energy from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday, March 11th. Scotiabank upgraded shares of CenterPoint Energy from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $30.00 to $35.00 in a research note on Thursday, December 12th. LADENBURG THALM/SH SH began coverage on shares of CenterPoint Energy in a research report on Thursday, December 12th. They issued a “buy” rating and a $34.50 price target for the company. Finally, Barclays raised their price objective on shares of CenterPoint Energy from $29.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $33.77.

CenterPoint Energy Stock Performance

CNP opened at $35.77 on Friday. The stock has a market capitalization of $23.34 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 2.71 and a beta of 0.91. The company has a fifty day moving average of $33.49 and a 200 day moving average of $31.45. CenterPoint Energy, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $36.19. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.92 and a current ratio of 1.08.

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

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.