Legg Mason Asset Management Japan Co. Ltd. cut its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 28.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,200 shares of the utilities provider’s stock after selling 8,000 shares during the quarter. Legg Mason Asset Management Japan Co. Ltd.’s holdings in CenterPoint Energy were worth $571,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. IBM Retirement Fund lifted its stake in shares of CenterPoint Energy by 5.1% in the 4th quarter. IBM Retirement Fund now owns 7,660 shares of the utilities provider’s stock valued at $216,000 after purchasing an additional 375 shares during the period. Avalon Advisors LLC lifted its stake in shares of CenterPoint Energy by 5.3% in the 4th quarter. Avalon Advisors LLC now owns 883,996 shares of the utilities provider’s stock valued at $24,955,000 after purchasing an additional 44,226 shares during the period. Shelter Harbor Advisors LP acquired a new position in shares of CenterPoint Energy in the 4th quarter valued at about $5,646,000. Mackay Shields LLC lifted its stake in shares of CenterPoint Energy by 21.5% in the 4th quarter. Mackay Shields LLC now owns 689,462 shares of the utilities provider’s stock valued at $19,463,000 after purchasing an additional 122,153 shares during the period. Finally, Rare Infrastructure Ltd lifted its stake in shares of CenterPoint Energy by 26.7% in the 4th quarter. Rare Infrastructure Ltd now owns 6,822 shares of the utilities provider’s stock valued at $193,000 after purchasing an additional 1,437 shares during the period. 80.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CenterPoint Energy stock opened at $30.81 on Friday. CenterPoint Energy, Inc. has a one year low of $24.81 and a one year high of $31.42. The stock has a market capitalization of $15.44 billion, a P/E ratio of 19.26, a PEG ratio of 3.47 and a beta of 0.46. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.13 and a quick ratio of 2.01.
A number of research analysts have recently issued reports on CNP shares. Credit Suisse Group set a $32.00 price objective on CenterPoint Energy and gave the company a “buy” rating in a research note on Friday, March 1st. Royal Bank of Canada raised CenterPoint Energy from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $29.00 to $34.00 in a research note on Friday, January 18th. ValuEngine downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. UBS Group raised CenterPoint Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $30.00 to $34.00 in a research note on Thursday, December 13th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of CenterPoint Energy in a research note on Thursday, February 28th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $31.18.
In other CenterPoint Energy news, insider Milton Carroll sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $30.21, for a total transaction of $2,265,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott M. Prochazka sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $27.87, for a total value of $111,480.00. The disclosure for this sale can be found here. Insiders sold a total of 129,000 shares of company stock valued at $3,881,030 over the last ninety days. 0.22% of the stock is currently owned by corporate insiders.
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CenterPoint Energy Profile
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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