EverSource Wealth Advisors LLC Buys 4,158 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

EverSource Wealth Advisors LLC raised its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 174.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,535 shares of the utilities provider’s stock after purchasing an additional 4,158 shares during the period. EverSource Wealth Advisors LLC’s holdings in CenterPoint Energy were worth $190,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Fifth Third Bancorp boosted its holdings in CenterPoint Energy by 2.3% in the 1st quarter. Fifth Third Bancorp now owns 15,773 shares of the utilities provider’s stock valued at $449,000 after purchasing an additional 357 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in CenterPoint Energy by 2.1% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 18,981 shares of the utilities provider’s stock valued at $541,000 after purchasing an additional 388 shares during the period. Cornercap Investment Counsel Inc. lifted its holdings in shares of CenterPoint Energy by 1.0% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 40,811 shares of the utilities provider’s stock worth $1,166,000 after acquiring an additional 406 shares during the period. Pitcairn Co. lifted its holdings in shares of CenterPoint Energy by 2.3% during the 1st quarter. Pitcairn Co. now owns 19,544 shares of the utilities provider’s stock worth $557,000 after acquiring an additional 434 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its holdings in shares of CenterPoint Energy by 3.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 13,224 shares of the utilities provider’s stock worth $377,000 after acquiring an additional 447 shares during the period. 91.77% of the stock is owned by institutional investors.

CenterPoint Energy Price Performance

CNP traded down $1.08 during midday trading on Friday, hitting $27.07. The company had a trading volume of 13,867,540 shares, compared to its average volume of 7,488,031. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.06 and a current ratio of 1.20. The company has a market capitalization of $17.38 billion, a PE ratio of 19.06, a P/E/G ratio of 2.48 and a beta of 0.92. CenterPoint Energy, Inc. has a twelve month low of $25.42 and a twelve month high of $31.57. The firm’s 50-day simple moving average is $29.89 and its 200-day simple moving average is $28.86.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.04. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.88 billion. CenterPoint Energy had a net margin of 12.28% and a return on equity of 10.81%. During the same quarter last year, the company posted $0.28 EPS. Equities research analysts predict that CenterPoint Energy, Inc. will post 1.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CNP shares. JPMorgan Chase & Co. downgraded shares of CenterPoint Energy from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $32.00 to $29.00 in a report on Friday. KeyCorp downgraded shares of CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a report on Friday. StockNews.com raised shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Wednesday. Scotiabank reduced their price objective on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Finally, BMO Capital Markets downgraded shares of CenterPoint Energy from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $31.00 to $28.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $29.90.

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.