Mirae Asset Global Investments Co. Ltd. Sells 1,648 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Mirae Asset Global Investments Co. Ltd. cut its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,441 shares of the utilities provider’s stock after selling 1,648 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in CenterPoint Energy were worth $2,555,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Advisor Partners II LLC lifted its position in CenterPoint Energy by 1.2% in the first quarter. Advisor Partners II LLC now owns 29,370 shares of the utilities provider’s stock worth $865,000 after buying an additional 357 shares during the last quarter. Moors & Cabot Inc. increased its stake in CenterPoint Energy by 0.7% in the third quarter. Moors & Cabot Inc. now owns 52,633 shares of the utilities provider’s stock worth $1,413,000 after purchasing an additional 368 shares during the period. Wetherby Asset Management Inc. increased its stake in CenterPoint Energy by 3.9% in the first quarter. Wetherby Asset Management Inc. now owns 11,100 shares of the utilities provider’s stock worth $327,000 after purchasing an additional 412 shares during the period. First Republic Investment Management Inc. increased its stake in CenterPoint Energy by 2.2% in the first quarter. First Republic Investment Management Inc. now owns 19,444 shares of the utilities provider’s stock worth $596,000 after purchasing an additional 427 shares during the period. Finally, Checchi Capital Advisers LLC increased its stake in CenterPoint Energy by 4.2% in the third quarter. Checchi Capital Advisers LLC now owns 10,505 shares of the utilities provider’s stock worth $282,000 after purchasing an additional 428 shares during the period. 91.77% of the stock is currently owned by institutional investors.

CenterPoint Energy Price Performance

CNP opened at $27.95 on Friday. The business’s 50-day moving average is $27.89 and its two-hundred day moving average is $27.92. CenterPoint Energy, Inc. has a 1 year low of $25.42 and a 1 year high of $31.43. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.78 and a quick ratio of 0.58. The firm has a market capitalization of $17.69 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 2.40 and a beta of 0.92.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Mizuho reiterated a “neutral” rating and issued a $29.00 target price (down previously from $30.00) on shares of CenterPoint Energy in a research note on Wednesday, February 21st. Guggenheim reduced 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. KeyCorp increased their target price on CenterPoint Energy from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, January 4th. Evercore ISI lowered CenterPoint Energy from an “outperform” rating to an “in-line” rating and increased their target price for the stock from $29.00 to $30.00 in a research note on Tuesday, January 23rd. Finally, Barclays raised their price target on CenterPoint Energy from $28.00 to $29.00 and gave the company an “underweight” rating in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.30.

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.