Norges Bank Acquires Shares of 4,986,839 CenterPoint Energy, Inc. (NYSE:CNP)

Norges Bank bought a new position in CenterPoint Energy, Inc. (NYSE:CNP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,986,839 shares of the utilities provider’s stock, valued at approximately $158,232,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. J.Safra Asset Management Corp acquired a new stake in shares of CenterPoint Energy in the 4th quarter valued at approximately $28,000. Wilmington Savings Fund Society FSB purchased a new position in CenterPoint Energy in the third quarter worth $26,000. Assetmark Inc. lifted its holdings in CenterPoint Energy by 657.1% in the fourth quarter. Assetmark Inc. now owns 901 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 782 shares during the period. VSM Wealth Advisory LLC acquired a new stake in CenterPoint Energy in the fourth quarter valued at $32,000. Finally, BankPlus Trust Department purchased a new stake in shares of CenterPoint Energy during the 4th quarter worth $40,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Stock Down 0.0 %

CNP opened at $36.25 on Tuesday. The business’s fifty day simple moving average is $33.92 and its 200 day simple moving average is $31.82. CenterPoint Energy, Inc. has a 52 week low of $25.41 and a 52 week high of $36.97. The firm has a market cap of $23.66 billion, a P/E ratio of 22.80, a PEG ratio of 2.71 and a beta of 0.91. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.91.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Barclays increased their price target on shares of CenterPoint Energy from $29.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, January 27th. Scotiabank raised CenterPoint Energy from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $30.00 to $35.00 in a research note on Thursday, December 12th. LADENBURG THALM/SH SH initiated coverage on CenterPoint Energy in a research note on Thursday, December 12th. They set a “buy” rating and a $34.50 price target on the stock. UBS Group raised CenterPoint Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $31.00 to $37.00 in a research note on Tuesday, December 3rd. Finally, BMO Capital Markets boosted their target price on CenterPoint Energy from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, March 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.77.

CenterPoint Energy 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.