HITE Hedge Asset Management LLC Has $63.94 Million Stock Position in CenterPoint Energy, Inc. $CNP

HITE Hedge Asset Management LLC grew its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 19.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,647,826 shares of the utilities provider’s stock after buying an additional 267,272 shares during the quarter. CenterPoint Energy makes up about 3.5% of HITE Hedge Asset Management LLC’s investment portfolio, making the stock its 7th largest holding. HITE Hedge Asset Management LLC owned approximately 0.25% of CenterPoint Energy worth $63,936,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CNP. Root Financial Partners LLC bought a new position in shares of CenterPoint Energy during the third quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in CenterPoint Energy in the third quarter valued at $26,000. LRI Investments LLC boosted its holdings in CenterPoint Energy by 107.9% in the third quarter. LRI Investments LLC now owns 684 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 355 shares in the last quarter. First Horizon Corp purchased a new position in CenterPoint Energy during the 3rd quarter valued at $30,000. Finally, Atlantic Union Bankshares Corp purchased a new position in CenterPoint Energy during the 3rd quarter valued at $30,000. 91.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Mizuho set a $44.00 target price on shares of CenterPoint Energy in a research report on Monday, February 23rd. Citigroup reiterated a “neutral” rating on shares of CenterPoint Energy in a research report on Thursday, February 19th. Morgan Stanley reissued an “underperform” rating and issued a $37.00 price target on shares of CenterPoint Energy in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. Finally, JPMorgan Chase & Co. cut their price objective on CenterPoint Energy from $43.00 to $41.00 and set a “neutral” rating on the stock in a research report on Thursday, December 11th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.55.

CenterPoint Energy Stock Performance

Shares of CNP stock opened at $43.38 on Friday. CenterPoint Energy, Inc. has a 12 month low of $34.38 and a 12 month high of $44.04. The stock has a market cap of $28.38 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 2.54 and a beta of 0.58. The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 1.84. The company’s fifty day moving average price is $40.86 and its 200-day moving average price is $39.45.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). CenterPoint Energy had a return on equity of 10.46% and a net margin of 11.24%.The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the business earned $0.40 earnings per share. CenterPoint Energy has set its FY 2026 guidance at 1.900- EPS. On average, equities analysts expect that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.