Sumitomo Mitsui Trust Holdings Inc. Trims Stock Position in CenterPoint Energy, Inc. (NYSE:CNP)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in CenterPoint Energy, Inc. (NYSE:CNP) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,521,567 shares of the utilities provider’s stock after selling 4,619 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of CenterPoint Energy worth $43,471,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings in shares of CenterPoint Energy by 302.6% in the 4th quarter. Pacer Advisors Inc. now owns 159,772 shares of the utilities provider’s stock worth $4,565,000 after purchasing an additional 120,085 shares during the period. Raymond James & Associates raised its holdings in shares of CenterPoint Energy by 27.0% in the 4th quarter. Raymond James & Associates now owns 1,209,630 shares of the utilities provider’s stock worth $34,559,000 after purchasing an additional 256,820 shares during the period. UBS Group AG raised its holdings in shares of CenterPoint Energy by 37.5% in the 3rd quarter. UBS Group AG now owns 1,540,465 shares of the utilities provider’s stock worth $41,361,000 after purchasing an additional 420,010 shares during the period. Beach Investment Counsel Inc. PA raised its holdings in shares of CenterPoint Energy by 32.5% in the 4th quarter. Beach Investment Counsel Inc. PA now owns 416,957 shares of the utilities provider’s stock worth $11,912,000 after purchasing an additional 102,271 shares during the period. Finally, Dark Forest Capital Management LP raised its holdings in shares of CenterPoint Energy by 202.0% in the 3rd quarter. Dark Forest Capital Management LP now owns 27,903 shares of the utilities provider’s stock worth $749,000 after purchasing an additional 18,664 shares during the period. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

CenterPoint Energy Price Performance

Shares of NYSE CNP opened at $28.53 on Friday. CenterPoint Energy, Inc. has a fifty-two week low of $25.42 and a fifty-two week high of $31.43. The business has a 50 day moving average price of $27.91 and a two-hundred day moving average price of $27.94. The company has a quick ratio of 0.58, a current ratio of 0.78 and a debt-to-equity ratio of 1.82. The firm has a market cap of $18.06 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.44 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. CenterPoint Energy had a return on equity of 10.44% and a net margin of 10.55%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter last year, the firm earned $0.28 EPS. Sell-side analysts expect that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CNP has been the topic of a number of research reports. Barclays raised their price objective on CenterPoint Energy from $28.00 to $29.00 and gave the stock an “underweight” rating in a report on Thursday, March 14th. Mizuho reiterated a “neutral” rating and set a $29.00 target price (down from $30.00) on shares of CenterPoint Energy in a report on Wednesday, February 21st. Evercore ISI downgraded CenterPoint Energy from an “outperform” rating to an “in-line” rating and raised their target price for the company from $29.00 to $30.00 in a report on Tuesday, January 23rd. KeyCorp raised their target price on CenterPoint Energy from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, January 4th. Finally, Guggenheim dropped their target price on CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CenterPoint Energy has a consensus rating of “Hold” and an average price target of $30.30.

About CenterPoint Energy

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.