CenterPoint Energy, Inc. (CNP) Position Trimmed by Millennium Management LLC
Millennium Management LLC trimmed its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 13.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,592,547 shares of the utilities provider’s stock after selling 1,389,850 shares during the period. CenterPoint Energy makes up 0.4% of Millennium Management LLC’s portfolio, making the stock its 26th biggest position. Millennium Management LLC owned 1.71% of CenterPoint Energy worth $242,568,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Kaizen Advisory LLC grew its holdings in CenterPoint Energy by 33.4% during the 4th quarter. Kaizen Advisory LLC now owns 1,350 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 338 shares in the last quarter. Wakefield Asset Management LLLP acquired a new position in CenterPoint Energy during the 4th quarter worth $51,000. Yaupon Capital Management LP acquired a new position in CenterPoint Energy during the 4th quarter worth $6,636,000. National Pension Service grew its holdings in CenterPoint Energy by 6.0% during the 4th quarter. National Pension Service now owns 540,308 shares of the utilities provider’s stock worth $16,658,000 after acquiring an additional 30,545 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in CenterPoint Energy by 16.5% during the 4th quarter. Legal & General Group Plc now owns 3,962,991 shares of the utilities provider’s stock worth $111,840,000 after acquiring an additional 559,932 shares in the last quarter. 81.40% of the stock is owned by institutional investors and hedge funds.
CNP has been the subject of several recent analyst reports. UBS Group raised shares of CenterPoint Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $30.00 to $34.00 in a report on Thursday, December 13th. Wells Fargo & Co reissued a “buy” rating on shares of CenterPoint Energy in a report on Monday, December 24th. Guggenheim raised shares of CenterPoint Energy from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. Zacks Investment Research raised shares of CenterPoint Energy from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective for the company in a report on Tuesday, January 8th. Finally, Royal Bank of Canada raised shares of CenterPoint Energy from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $29.00 to $34.00 in a report on Friday, January 18th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. CenterPoint Energy currently has an average rating of “Buy” and a consensus target price of $31.18.
Shares of NYSE CNP traded down $0.04 during midday trading on Monday, hitting $30.68. The company’s stock had a trading volume of 38,048 shares, compared to its average volume of 5,134,125. CenterPoint Energy, Inc. has a 1-year low of $24.81 and a 1-year high of $31.42. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.01 and a current ratio of 2.13. The firm has a market capitalization of $15.40 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 3.57 and a beta of 0.46.
CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Thursday, February 28th. The utilities provider reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. CenterPoint Energy had a net margin of 3.48% and a return on equity of 14.16%. During the same period last year, the firm posted $0.33 earnings per share. Equities analysts forecast that CenterPoint Energy, Inc. will post 1.64 earnings per share for the current year.
About CenterPoint Energy
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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