Harbour Investments Inc. Boosts Stake in CenterPoint Energy, Inc. (NYSE:CNP)

Harbour Investments Inc. raised its position in CenterPoint Energy, Inc. (NYSE:CNP) by 41.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,412 shares of the utilities provider’s stock after purchasing an additional 1,283 shares during the quarter. Harbour Investments Inc.’s holdings in CenterPoint Energy were worth $140,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its position 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 worth $33,000 after purchasing an additional 375 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in CenterPoint Energy by 3.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,907 shares of the utilities provider’s stock worth $378,000 after acquiring an additional 416 shares in the last quarter. Farther Finance Advisors LLC grew its stake in CenterPoint Energy by 3.2% in the 4th quarter. Farther Finance Advisors LLC now owns 13,909 shares of the utilities provider’s stock worth $441,000 after acquiring an additional 432 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in CenterPoint Energy by 53.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,392 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 482 shares in the last quarter. Finally, M&T Bank Corp grew its stake in CenterPoint Energy by 1.2% in the 3rd quarter. M&T Bank Corp now owns 40,054 shares of the utilities provider’s stock worth $1,178,000 after acquiring an additional 489 shares in the last quarter. 91.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CNP has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on shares of CenterPoint Energy from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Thursday. Scotiabank upgraded shares of CenterPoint Energy from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $30.00 to $35.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. increased their price objective on shares of CenterPoint Energy from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. LADENBURG THALM/SH SH initiated coverage on shares of CenterPoint Energy in a research note on Thursday, December 12th. They set a “buy” rating and a $34.50 price objective on the stock. Finally, Evercore ISI upgraded shares of CenterPoint Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $36.00 to $37.00 in a research note on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $33.77.

CenterPoint Energy Price Performance

Shares of CNP opened at $35.77 on Friday. The company has a market cap of $23.34 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. CenterPoint Energy, Inc. has a twelve month low of $25.41 and a twelve month high of $36.19. 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 50 day moving average of $33.49 and a two-hundred day moving average of $31.45.

CenterPoint Energy (NYSE:CNP) last announced its earnings results on Thursday, February 20th. The utilities provider reported $0.40 earnings per share for the quarter, meeting the consensus estimate 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 net margin of 11.79% and a return on equity of 10.02%. As a group, analysts predict that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

About CenterPoint Energy

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.