Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 19.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,709 shares of the utilities provider’s stock after acquiring an additional 17,033 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in CenterPoint Energy were worth $2,805,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC bought a new position in CenterPoint Energy during the 3rd quarter worth approximately $27,000. Oppenheimer Asset Management Inc. bought a new position in CenterPoint Energy in the third quarter valued at approximately $34,000. Dupont Capital Management Corp bought a new position in CenterPoint Energy in the fourth quarter valued at approximately $47,000. Parallel Advisors LLC lifted its stake in CenterPoint Energy by 161.8% in the third quarter. Parallel Advisors LLC now owns 1,809 shares of the utilities provider’s stock valued at $55,000 after buying an additional 1,118 shares in the last quarter. Finally, Allred Capital Management LLC bought a new position in CenterPoint Energy in the fourth quarter valued at approximately $84,000. 79.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of CNP stock opened at $27.18 on Friday. The company’s fifty day simple moving average is $26.74 and its 200-day simple moving average is $27.55. The company has a quick ratio of 0.83, a current ratio of 0.99 and a debt-to-equity ratio of 2.12. The firm has a market cap of $13.65 billion, a PE ratio of 15.99, a P/E/G ratio of 3.39 and a beta of 0.44. CenterPoint Energy, Inc. has a 12 month low of $24.25 and a 12 month high of $31.42.
A number of research analysts have weighed in on the stock. Goldman Sachs Group cut their price target on shares of CenterPoint Energy from $33.00 to $29.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. Guggenheim raised shares of CenterPoint Energy from a “neutral” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Tuesday, January 14th. UBS Group cut their price target on shares of CenterPoint Energy from $32.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. Wells Fargo & Co lowered shares of CenterPoint Energy from an “outperform” rating to a “market perform” rating and set a $26.00 price target on the stock. in a research note on Monday, November 25th. Finally, SunTrust Banks lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $28.07.
In other news, CEO Scott M. Prochazka sold 7,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $26.83, for a total value of $187,810.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.24% of the company’s stock.
CenterPoint Energy Profile
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.
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