Waterway Wealth Management LLC Takes Position in CenterPoint Energy, Inc. (NYSE:CNP)

Waterway Wealth Management LLC purchased a new stake in CenterPoint Energy, Inc. (NYSE:CNP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 12,702 shares of the utilities provider’s stock, valued at approximately $363,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. lifted its position in CenterPoint Energy by 68.2% in the 1st quarter. Invesco Ltd. now owns 7,638,179 shares of the utilities provider’s stock valued at $234,036,000 after acquiring an additional 3,096,455 shares in the last quarter. State Street Corp lifted its position in CenterPoint Energy by 10.0% during the 1st quarter. State Street Corp now owns 33,279,592 shares of the utilities provider’s stock worth $1,019,687,000 after buying an additional 3,035,409 shares in the last quarter. Norges Bank bought a new stake in CenterPoint Energy during the 4th quarter worth about $88,736,000. California Public Employees Retirement System lifted its position in CenterPoint Energy by 175.3% during the 3rd quarter. California Public Employees Retirement System now owns 3,618,686 shares of the utilities provider’s stock worth $97,162,000 after buying an additional 2,304,183 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in CenterPoint Energy by 42.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,348,720 shares of the utilities provider’s stock worth $187,034,000 after buying an additional 1,898,199 shares in the last quarter. Institutional investors and hedge funds own 88.96% of the company’s stock.

CenterPoint Energy Price Performance

Shares of NYSE CNP traded down $0.37 during trading hours on Tuesday, hitting $27.23. 5,757,642 shares of the stock were exchanged, compared to its average volume of 4,151,397. The company has a market cap of $17.24 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 2.28 and a beta of 0.92. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.58 and a current ratio of 0.78. The company’s fifty day simple moving average is $27.83 and its two-hundred day simple moving average is $27.95. CenterPoint Energy, Inc. has a 1-year low of $25.42 and a 1-year high of $31.43.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.83 billion. CenterPoint Energy had a net margin of 10.55% and a return on equity of 10.44%. During the same quarter in the prior year, the firm earned $0.28 EPS. On average, sell-side analysts predict that CenterPoint Energy, Inc. will post 1.63 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CNP shares. Evercore ISI cut shares of CenterPoint Energy from an “outperform” rating to an “in-line” rating and boosted their price target for the stock from $29.00 to $30.00 in a research report on Tuesday, January 23rd. Mizuho reaffirmed a “neutral” rating and issued a $29.00 target price (down from $30.00) on shares of CenterPoint Energy in a report on Wednesday, February 21st. Guggenheim dropped their target price on shares of CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Barclays upped their target price on shares of CenterPoint Energy from $28.00 to $29.00 and gave the company an “underweight” rating in a report on Thursday, March 14th. Finally, KeyCorp upped their target price on shares of CenterPoint Energy from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CenterPoint Energy currently has an average rating of “Hold” and an average target price of $30.73.

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.