Cinctive Capital Management LP Increases Position in CenterPoint Energy, Inc. $CNP

Key Points

• Cinctive Capital Management LP boosted its stake in CenterPoint Energy by 149.0% in Q3, adding 164,259 shares to hold 274,524 shares worth about $10.65 million.
• Institutional ownership is high at 91.77%, with several other funds also initiating or increasing small positions during the quarter.
• Analyst sentiment is mixed — the stock has an average rating of "Hold" and a mean price target of $42.55, with seven Buys, six Holds and one Sell and recent divergent target changes (e.g., KeyCorp/Wells Fargo to $47, JPMorgan to $41).

Cinctive Capital Management LP lifted its position in CenterPoint Energy, Inc. (NYSE:CNP - Free Report) by 149.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 274,524 shares of the utilities provider's stock after acquiring an additional 164,259 shares during the period. Cinctive Capital Management LP's holdings in CenterPoint Energy were worth $10,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Root Financial Partners LLC purchased a new stake in CenterPoint Energy during the 3rd quarter valued at about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of CenterPoint Energy in the third quarter worth about $26,000. LRI Investments LLC raised its stake in shares of CenterPoint Energy by 107.9% in the third quarter. LRI Investments LLC now owns 684 shares of the utilities provider's stock worth $27,000 after purchasing an additional 355 shares during the last quarter. First Horizon Corp acquired a new stake in shares of CenterPoint Energy during the third quarter worth about $30,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of CenterPoint Energy during the third quarter worth about $30,000. Institutional investors and hedge funds own 91.77% of the company's stock.

Wall Street Analysts Forecast Growth

CNP has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on shares of CenterPoint Energy from $43.00 to $41.00 and set a "neutral" rating on the stock in a report on Thursday, December 11th. Citigroup restated a "neutral" rating on shares of CenterPoint Energy in a research note on Thursday, February 19th. Mizuho set a $44.00 price objective on shares of CenterPoint Energy in a report on Monday, February 23rd. KeyCorp increased their price objective on shares of CenterPoint Energy from $41.00 to $47.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 4th. Finally, Wells Fargo & Company boosted their target price on shares of CenterPoint Energy from $44.00 to $47.00 and gave the company an "overweight" rating in a research report on Tuesday, January 20th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, CenterPoint Energy presently has an average rating of "Hold" and an average price target of $42.55.

CenterPoint Energy Stock Up 1.4%

Shares of CNP stock opened at $44.01 on Friday. CenterPoint Energy, Inc. has a twelve month low of $34.65 and a twelve month high of $44.07. The stock has a market cap of $28.79 billion, a P/E ratio of 27.51, a P/E/G ratio of 2.61 and a beta of 0.58. The stock has a 50 day moving average of $40.97 and a 200 day moving average of $39.51. The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 1.84.

CenterPoint Energy (NYSE:CNP - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.01). The company had revenue of $2.51 billion during the quarter, compared to analysts' expectations of $2.23 billion. CenterPoint Energy had a return on equity of 10.46% and a net margin of 11.24%.During the same quarter in the prior year, the company posted $0.40 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.900- EPS. As a group, sell-side analysts expect that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

About CenterPoint Energy

CenterPoint Energy, Inc NYSE: CNP is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company's principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint's core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.

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