Wealthfront Advisers LLC Reduces Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Wealthfront Advisers LLC trimmed its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 12.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,531 shares of the utilities provider’s stock after selling 6,912 shares during the period. Wealthfront Advisers LLC’s holdings in CenterPoint Energy were worth $1,465,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advantage Investment Management LLC grew its position in shares of CenterPoint Energy by 432.7% in the 2nd quarter. Advantage Investment Management LLC now owns 1,598 shares of the utilities provider’s stock valued at $46,000 after buying an additional 1,298 shares during the last quarter. TD Capital Management LLC purchased a new position in shares of CenterPoint Energy in the 2nd quarter valued at $47,000. HM Payson & Co. purchased a new position in shares of CenterPoint Energy in the 2nd quarter valued at $56,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of CenterPoint Energy in the 3rd quarter valued at $64,000. Finally, Amica Retiree Medical Trust purchased a new position in shares of CenterPoint Energy in the 2nd quarter valued at $65,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:CNP opened at $28.62 on Thursday. The company has a market cap of $14.01 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 3.22 and a beta of 0.48. The firm’s 50-day simple moving average is $29.05 and its 200-day simple moving average is $29.27. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 2.17. CenterPoint Energy, Inc. has a fifty-two week low of $26.74 and a fifty-two week high of $31.42.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.04. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.79 billion. CenterPoint Energy had a net margin of 5.55% and a return on equity of 13.59%. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. On average, research analysts forecast that CenterPoint Energy, Inc. will post 1.66 EPS for the current year.

In other news, CEO Scott M. Prochazka sold 7,000 shares of CenterPoint Energy stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $29.03, for a total value of $203,210.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 21,000 shares of company stock worth $608,510. Insiders own 0.24% of the company’s stock.

A number of research analysts recently commented on CNP shares. Goldman Sachs Group increased their target price on shares of CenterPoint Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Stifel Nicolaus raised shares of CenterPoint Energy from a “hold” rating to a “buy” rating and raised their price objective for the stock from $30.00 to $32.00 in a research report on Friday, September 6th. Wells Fargo & Co lowered their price objective on shares of CenterPoint Energy from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 18th. Zacks Investment Research downgraded shares of CenterPoint Energy from a “buy” rating to a “hold” rating and set a $30.00 price objective on the stock. in a research report on Monday. Finally, SunTrust Banks raised shares of CenterPoint Energy from a “hold” rating to a “buy” rating and raised their price objective for the stock from $30.00 to $32.00 in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $31.79.

About CenterPoint Energy

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.

Featured Article: What are the benefits of a balanced fund?

Want to see what other hedge funds are holding CNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CenterPoint Energy, Inc. (NYSE:CNP).

Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.