CenterPoint Energy, Inc. (NYSE:CNP) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 154,271 shares of the utilities provider’s stock after selling 7,409 shares during the quarter. Corebridge Financial Inc.’s holdings in CenterPoint Energy were worth $4,895,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. HighTower Advisors LLC increased its position in CenterPoint Energy by 2.9% during the fourth quarter. HighTower Advisors LLC now owns 80,577 shares of the utilities provider’s stock worth $2,557,000 after purchasing an additional 2,283 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of CenterPoint Energy by 3.0% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,484,528 shares of the utilities provider’s stock worth $47,104,000 after buying an additional 42,578 shares during the last quarter. Custom Index Systems LLC purchased a new stake in shares of CenterPoint Energy during the 4th quarter valued at approximately $265,000. Atria Investments Inc lifted its holdings in CenterPoint Energy by 57.1% in the fourth quarter. Atria Investments Inc now owns 34,577 shares of the utilities provider’s stock valued at $1,097,000 after acquiring an additional 12,563 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in CenterPoint Energy by 7.1% in the third quarter. Principal Financial Group Inc. now owns 847,366 shares of the utilities provider’s stock worth $24,930,000 after acquiring an additional 56,037 shares during the period. Hedge funds and other institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Stock Up 1.6 %

Shares of NYSE CNP opened at $36.26 on Friday. CenterPoint Energy, Inc. has a 12-month low of $25.41 and a 12-month high of $36.40. The stock has a market cap of $23.66 billion, a P/E ratio of 22.80, a PEG ratio of 2.71 and a beta of 0.91. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.91. The business’s fifty day simple moving average is $33.85 and its 200-day simple moving average is $31.73.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barclays upped their price target on CenterPoint Energy from $29.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, January 27th. Guggenheim lowered shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Morgan Stanley boosted their price target on shares of CenterPoint Energy from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. UBS Group upgraded shares of CenterPoint Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $31.00 to $37.00 in a report on Tuesday, December 3rd. Finally, Scotiabank upgraded CenterPoint Energy from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $30.00 to $35.00 in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.