Boston Partners Sells 1,657,250 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Boston Partners reduced its position in CenterPoint Energy, Inc. (NYSE:CNP) by 7.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 21,310,580 shares of the utilities provider’s stock after selling 1,657,250 shares during the period. CenterPoint Energy accounts for approximately 0.8% of Boston Partners’ portfolio, making the stock its 22nd largest holding. Boston Partners owned approximately 3.27% of CenterPoint Energy worth $676,612,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its stake in CenterPoint Energy by 51.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 375 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of CenterPoint Energy by 3.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,907 shares of the utilities provider’s stock valued at $378,000 after buying an additional 416 shares during the period. Farther Finance Advisors LLC increased its position in shares of CenterPoint Energy by 3.2% during the fourth quarter. Farther Finance Advisors LLC now owns 13,909 shares of the utilities provider’s stock valued at $441,000 after buying an additional 432 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of CenterPoint Energy by 53.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,392 shares of the utilities provider’s stock valued at $44,000 after buying an additional 482 shares during the period. Finally, Metis Global Partners LLC increased its position in shares of CenterPoint Energy by 2.4% during the third quarter. Metis Global Partners LLC now owns 20,538 shares of the utilities provider’s stock valued at $604,000 after buying an additional 484 shares during the period. 91.77% of the stock is currently owned by institutional investors.

CenterPoint Energy Price Performance

Shares of CenterPoint Energy stock opened at $35.59 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.91. The company has a market cap of $23.23 billion, a PE ratio of 22.38, a P/E/G ratio of 2.71 and a beta of 0.91. The business has a 50 day moving average of $33.12 and a 200 day moving average of $31.24. CenterPoint Energy, Inc. has a 52 week low of $25.41 and a 52 week high of $35.88.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.46 billion. CenterPoint Energy had a return on equity of 10.02% and a net margin of 11.79%. As a group, equities research analysts forecast that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CNP has been the topic of several analyst reports. Scotiabank upgraded CenterPoint Energy from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $30.00 to $35.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. boosted their price objective on CenterPoint Energy from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday, March 11th. BMO Capital Markets boosted their price objective on CenterPoint Energy from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday. Morgan Stanley cut their price objective on CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Finally, LADENBURG THALM/SH SH started coverage on CenterPoint Energy in a report on Thursday, December 12th. They set a “buy” rating and a $34.50 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $33.50.

CenterPoint Energy Company Profile

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.