abrdn plc Sells 4,192,659 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

abrdn plc cut its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 75.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,364,788 shares of the utilities provider’s stock after selling 4,192,659 shares during the period. abrdn plc owned about 0.22% of CenterPoint Energy worth $38,992,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. DnB Asset Management AS raised its position in shares of CenterPoint Energy by 1.0% in the 3rd quarter. DnB Asset Management AS now owns 135,300 shares of the utilities provider’s stock worth $3,633,000 after acquiring an additional 1,402 shares in the last quarter. HB Wealth Management LLC raised its position in shares of CenterPoint Energy by 6.7% in the 3rd quarter. HB Wealth Management LLC now owns 20,662 shares of the utilities provider’s stock worth $555,000 after acquiring an additional 1,297 shares in the last quarter. SG Americas Securities LLC raised its position in shares of CenterPoint Energy by 51.6% in the 3rd quarter. SG Americas Securities LLC now owns 75,806 shares of the utilities provider’s stock worth $2,035,000 after acquiring an additional 25,804 shares in the last quarter. DAVENPORT & Co LLC raised its position in shares of CenterPoint Energy by 3.1% in the 3rd quarter. DAVENPORT & Co LLC now owns 33,098 shares of the utilities provider’s stock worth $889,000 after acquiring an additional 998 shares in the last quarter. Finally, B.O.S.S. Retirement Advisors LLC raised its position in shares of CenterPoint Energy by 14.0% in the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 49,424 shares of the utilities provider’s stock worth $1,327,000 after acquiring an additional 6,052 shares in the last quarter. 91.77% of the stock is owned by institutional investors.

CenterPoint Energy Stock Up 0.9 %

CenterPoint Energy stock opened at $28.78 on Tuesday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.58 and a current ratio of 0.78. The business’s 50-day simple moving average is $27.93 and its two-hundred day simple moving average is $27.97. The company has a market cap of $18.22 billion, a PE ratio of 21.16, a PEG ratio of 2.51 and a beta of 0.92. CenterPoint Energy, Inc. has a fifty-two week low of $25.42 and a fifty-two week high of $31.43.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.83 billion. CenterPoint Energy had a return on equity of 10.44% and a net margin of 10.55%. During the same quarter in the previous year, the business earned $0.28 EPS. Equities analysts anticipate that CenterPoint Energy, Inc. will post 1.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Mizuho reissued a “neutral” rating and issued a $29.00 price target (down from $30.00) on shares of CenterPoint Energy in a research report on Wednesday, February 21st. Guggenheim dropped their target price on CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Evercore ISI downgraded CenterPoint Energy from an “outperform” rating to an “in-line” rating and boosted their target price for the stock from $29.00 to $30.00 in a research note on Tuesday, January 23rd. Barclays boosted their target price on CenterPoint Energy from $28.00 to $29.00 and gave the stock an “underweight” rating in a research note on Thursday, March 14th. Finally, Scotiabank dropped their target price on CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, CenterPoint Energy presently has a consensus rating of “Hold” and an average price target of $30.18.

CenterPoint Energy Company 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.