CenterPoint Energy, Inc. (NYSE:CNP) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 68.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,087 shares of the utilities provider’s stock after acquiring an additional 5,331 shares during the quarter. GAMMA Investing LLC’s holdings in CenterPoint Energy were worth $405,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC lifted its position in CenterPoint Energy by 163.7% during the fourth quarter. Global Retirement Partners LLC now owns 894 shares of the utilities provider’s stock worth $26,000 after buying an additional 555 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of CenterPoint Energy by 0.8% in the fourth quarter. Arizona State Retirement System now owns 173,474 shares of the utilities provider’s stock valued at $4,956,000 after purchasing an additional 1,317 shares during the period. Asset Management One Co. Ltd. increased its position in CenterPoint Energy by 5.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 270,203 shares of the utilities provider’s stock worth $7,717,000 after purchasing an additional 14,036 shares during the last quarter. International Assets Investment Management LLC increased its position in CenterPoint Energy by 439.2% during the fourth quarter. International Assets Investment Management LLC now owns 128,599 shares of the utilities provider’s stock worth $36,740,000 after purchasing an additional 104,751 shares during the last quarter. Finally, Sowell Financial Services LLC purchased a new stake in shares of CenterPoint Energy in the 4th quarter valued at approximately $391,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Price Performance

CNP stock traded down $1.08 on Friday, reaching $27.07. 13,867,540 shares of the company’s stock were exchanged, compared to its average volume of 7,488,031. CenterPoint Energy, Inc. has a twelve month low of $25.42 and a twelve month high of $31.57. The company has a quick ratio of 1.06, a current ratio of 1.20 and a debt-to-equity ratio of 1.79. The stock has a fifty day moving average of $29.89 and a 200-day moving average of $28.86. The firm has a market cap of $17.38 billion, a PE ratio of 19.06, a P/E/G ratio of 2.48 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.04. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $0.28 earnings per share. As a group, equities analysts predict that CenterPoint Energy, Inc. will post 1.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CNP shares. KeyCorp cut CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a report on Friday. Scotiabank reduced their price objective on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. JPMorgan Chase & Co. lowered shares of CenterPoint Energy from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $32.00 to $29.00 in a research note on Friday. Morgan Stanley downgraded shares of CenterPoint Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $30.00 to $29.00 in a research note on Wednesday, July 17th. Finally, StockNews.com upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, CenterPoint Energy has an average rating of “Hold” and a consensus price target of $29.90.

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.