CenterPoint Energy, Inc. (NYSE:CNP) Shares Sold by abrdn plc

abrdn plc reduced its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 75.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and 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’s holdings in CenterPoint Energy were worth $38,992,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. California Public Employees Retirement System grew its stake in shares of CenterPoint Energy by 175.3% during the third quarter. California Public Employees Retirement System now owns 3,618,686 shares of the utilities provider’s stock valued at $97,162,000 after acquiring an additional 2,304,183 shares in the last quarter. Invesco Ltd. grew its stake in shares of CenterPoint Energy by 5.7% during the third quarter. Invesco Ltd. now owns 8,239,922 shares of the utilities provider’s stock valued at $221,242,000 after acquiring an additional 442,718 shares in the last quarter. UBS Group AG grew its stake in shares of CenterPoint Energy by 37.5% during the third quarter. UBS Group AG now owns 1,540,465 shares of the utilities provider’s stock valued at $41,361,000 after acquiring an additional 420,010 shares in the last quarter. Tudor Investment Corp Et Al grew its stake in shares of CenterPoint Energy by 213.7% during the third quarter. Tudor Investment Corp Et Al now owns 556,730 shares of the utilities provider’s stock valued at $14,948,000 after acquiring an additional 379,276 shares in the last quarter. Finally, ClearBridge Investments Ltd grew its stake in shares of CenterPoint Energy by 9.8% during the third quarter. ClearBridge Investments Ltd now owns 3,623,324 shares of the utilities provider’s stock valued at $97,286,000 after acquiring an additional 324,078 shares in the last quarter. 91.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on CNP shares. Mizuho reaffirmed a “neutral” rating and set a $29.00 price target (down previously from $30.00) on shares of CenterPoint Energy in a research report on Wednesday, February 21st. Guggenheim reduced their price target on shares of CenterPoint Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Barclays increased their price target on shares of CenterPoint Energy from $28.00 to $29.00 and gave the stock an “underweight” rating in a research report on Thursday, March 14th. Scotiabank reduced their price target on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Monday. Finally, KeyCorp increased their price target on shares of CenterPoint Energy from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.18.

CenterPoint Energy Stock Performance

Shares of NYSE CNP opened at $28.78 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.78 and a debt-to-equity ratio of 1.82. The firm’s 50-day moving average price is $27.93 and its two-hundred day moving average price is $27.97. CenterPoint Energy, Inc. has a 52-week low of $25.42 and a 52-week high of $31.43. The stock has a market capitalization of $18.22 billion, a P/E ratio of 21.16, a P/E/G ratio of 2.51 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations 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 company posted $0.28 earnings per share. As a group, sell-side analysts forecast that CenterPoint Energy, Inc. will post 1.62 earnings per share for the current 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.