Cinctive Capital Management LP Acquires 182,489 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Cinctive Capital Management LP lifted its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 91.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 383,080 shares of the utilities provider’s stock after buying an additional 182,489 shares during the period. Cinctive Capital Management LP owned about 0.06% of CenterPoint Energy worth $12,155,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of CenterPoint Energy in the 3rd quarter worth about $26,000. J.Safra Asset Management Corp bought a new position in shares of CenterPoint Energy during the 4th quarter valued at approximately $28,000. Assetmark Inc. increased its stake in shares of CenterPoint Energy by 657.1% during the 4th quarter. Assetmark Inc. now owns 901 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 782 shares during the last quarter. VSM Wealth Advisory LLC bought a new stake in shares of CenterPoint Energy in the 4th quarter worth approximately $32,000. Finally, BankPlus Trust Department purchased a new position in CenterPoint Energy in the fourth quarter valued at approximately $40,000. Institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Stock Performance

NYSE:CNP opened at $36.81 on Wednesday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.92 and a current ratio of 1.08. CenterPoint Energy, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $37.17. The firm has a market cap of $24.02 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. The business has a 50 day moving average price of $33.99 and a 200-day moving average price of $31.88.

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

Wall Street Analyst Weigh In

CNP has been the topic of a number of research reports. Scotiabank upgraded CenterPoint Energy from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $30.00 to $35.00 in a research note on Thursday, December 12th. LADENBURG THALM/SH SH initiated 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. UBS Group upgraded shares of CenterPoint Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $31.00 to $37.00 in a research report on Tuesday, December 3rd. Barclays boosted their price target on shares of CenterPoint Energy from $29.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, January 27th. Finally, BMO Capital Markets raised their price objective on shares of CenterPoint Energy from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, March 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $33.77.

CenterPoint Energy 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.