McElhenny Sheffield Capital Management LLC bought a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,000 shares of the utilities provider’s stock, valued at approximately $60,000.
Other institutional investors have also made changes to their positions in the company. CENTRAL TRUST Co boosted its stake in CenterPoint Energy by 137.5% in the 3rd quarter. CENTRAL TRUST Co now owns 950 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 550 shares during the period. Covestor Ltd boosted its stake in CenterPoint Energy by 176.7% in the 1st quarter. Covestor Ltd now owns 891 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 569 shares during the period. CoreCap Advisors LLC bought a new stake in CenterPoint Energy in the 2nd quarter valued at $29,000. MinichMacGregor Wealth Management LLC bought a new stake in CenterPoint Energy in the 4th quarter valued at $33,000. Finally, Hanseatic Management Services Inc. boosted its stake in CenterPoint Energy by 74.6% in the 3rd quarter. Hanseatic Management Services Inc. now owns 1,290 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 551 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.
CenterPoint Energy Price Performance
CenterPoint Energy stock opened at $29.05 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.75 and a current ratio of 0.92. CenterPoint Energy, Inc. has a 52 week low of $25.03 and a 52 week high of $33.50. The stock has a market capitalization of $18.33 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 2.81 and a beta of 0.87. The stock has a fifty day moving average of $29.35 and a 200-day moving average of $29.63.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on CNP. Wells Fargo & Company boosted their price target on CenterPoint Energy to $35.00 in a research note on Wednesday, December 14th. StockNews.com initiated coverage on CenterPoint Energy in a research note on Thursday. They issued a “hold” rating for the company. 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. Guggenheim downgraded CenterPoint Energy from a “buy” rating to a “neutral” rating and upped their target price for the company from $31.00 to $32.00 in a research report on Monday, January 23rd. 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 equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, CenterPoint Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.78.
CenterPoint Energy Company Profile
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.
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