Envestnet Asset Management Inc. Increases Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Envestnet Asset Management Inc. lifted its stake in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 714,710 shares of the utilities provider's stock after purchasing an additional 19,561 shares during the quarter. Envestnet Asset Management Inc. owned about 0.11% of CenterPoint Energy worth $25,894,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CNP. Capital Research Global Investors increased its stake in CenterPoint Energy by 156.4% during the fourth quarter. Capital Research Global Investors now owns 45,573,115 shares of the utilities provider's stock worth $1,446,036,000 after acquiring an additional 27,799,744 shares during the last quarter. BROOKFIELD Corp ON acquired a new stake in CenterPoint Energy during the fourth quarter worth $164,350,000. Norges Bank acquired a new stake in CenterPoint Energy during the fourth quarter worth $158,232,000. American Century Companies Inc. increased its stake in CenterPoint Energy by 1,431.1% during the fourth quarter. American Century Companies Inc. now owns 3,408,551 shares of the utilities provider's stock worth $108,153,000 after acquiring an additional 3,185,932 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in CenterPoint Energy by 4.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 46,645,434 shares of the utilities provider's stock worth $1,480,060,000 after acquiring an additional 1,922,169 shares during the last quarter. Institutional investors and hedge funds own 91.77% of the company's stock.

Analyst Ratings Changes

CNP has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on CenterPoint Energy from $39.00 to $40.00 and gave the stock a "neutral" rating in a research note on Tuesday. Barclays raised CenterPoint Energy from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $30.00 to $37.00 in a research note on Tuesday, April 22nd. Argus raised CenterPoint Energy to a "hold" rating in a research note on Friday, April 4th. Evercore ISI lifted their price objective on CenterPoint Energy from $37.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Finally, Jefferies Financial Group started coverage on CenterPoint Energy in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $42.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $36.13.

CenterPoint Energy Stock Up 1.4%

NYSE:CNP traded up $0.50 during midday trading on Thursday, reaching $36.59. The company had a trading volume of 1,647,508 shares, compared to its average volume of 5,539,049. The firm has a market capitalization of $23.88 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 2.64 and a beta of 0.57. The stock's fifty day simple moving average is $36.61 and its 200-day simple moving average is $35.28. CenterPoint Energy, Inc. has a 12-month low of $25.41 and a 12-month high of $39.31. The company has a current ratio of 0.93, a quick ratio of 0.79 and a debt-to-equity ratio of 1.86.

CenterPoint Energy (NYSE:CNP - Get Free Report) last released its earnings results on Thursday, April 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.55 by ($0.02). The company had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.73 billion. CenterPoint Energy had a net margin of 10.80% and a return on equity of 9.74%. During the same quarter last year, the business posted $0.55 earnings per share. On average, sell-side analysts anticipate that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

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.