Toroso Investments LLC Reduces Stock Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Toroso Investments LLC trimmed its position in CenterPoint Energy, Inc. (NYSE:CNP – Get Rating) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,939 shares of the utilities provider’s stock after selling 657 shares during the period. Toroso Investments LLC’s holdings in CenterPoint Energy were worth $1,097,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CNP. Private Advisor Group LLC bought a new position in shares of CenterPoint Energy in the first quarter worth about $440,000. Raymond James Trust N.A. raised its stake in shares of CenterPoint Energy by 59.0% in the first quarter. Raymond James Trust N.A. now owns 14,757 shares of the utilities provider’s stock worth $452,000 after buying an additional 5,475 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of CenterPoint Energy by 28.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,585,045 shares of the utilities provider’s stock worth $79,208,000 after buying an additional 572,884 shares during the period. Vontobel Holding Ltd. raised its stake in shares of CenterPoint Energy by 9.0% in the first quarter. Vontobel Holding Ltd. now owns 32,098 shares of the utilities provider’s stock worth $988,000 after buying an additional 2,642 shares during the period. Finally, Sei Investments Co. raised its stake in shares of CenterPoint Energy by 59.3% in the first quarter. Sei Investments Co. now owns 738,270 shares of the utilities provider’s stock worth $22,615,000 after buying an additional 274,696 shares during the period. 90.28% of the stock is owned by hedge funds and other institutional investors.

CenterPoint Energy Price Performance

CenterPoint Energy stock opened at $29.05 on Friday. CenterPoint Energy, Inc. has a 52-week low of $25.03 and a 52-week high of $33.50. The company has a market cap of $18.33 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 2.79 and a beta of 0.87. The firm’s fifty day moving average is $29.35 and its 200 day moving average is $29.63. The company has a quick ratio of 0.75, a current ratio of 0.92 and a debt-to-equity ratio of 0.02.

CenterPoint Energy (NYSE:CNP – Get Rating) last posted its earnings results on Friday, February 17th. The utilities provider reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). CenterPoint Energy had a return on equity of 9.88% and a net margin of 11.21%. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the firm earned $0.36 earnings per share. Sell-side analysts forecast that CenterPoint Energy, Inc. will post 1.49 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on CNP. Wells Fargo & Company raised their price objective on CenterPoint Energy to $35.00 in a research note on Wednesday, December 14th. Guggenheim downgraded CenterPoint Energy from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $31.00 to $32.00 in a research note on Monday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $33.00 target price on shares of CenterPoint Energy in a research report on Monday, March 6th. StockNews.com started coverage on CenterPoint Energy in a research report on Thursday. They set a “hold” rating for the company. Finally, Morgan Stanley cut their target price on CenterPoint Energy from $31.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, February 22nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.78.

CenterPoint Energy Company Profile

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CenterPoint Energy, Inc is a holding company, which engages in the business of power generation and distribution. It operates through the following segments: CenterPoint Energy, Houston Electric, and CERC. The CenterPoint Energy segment consists of electric transmission and distribution services in the Texas gulf coast area in the ERCOT region and electric transmission and distribution services primarily to southwestern Indiana and includes power generation and wholesale power operations in the MISO region.