West Tower Group LLC Acquires New Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

West Tower Group LLC purchased a new stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) in the 4th quarter, Holdings Channel.com reports. The fund purchased 13,500 shares of the utilities provider’s stock, valued at approximately $428,000.

Other large investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of CenterPoint Energy during the third quarter valued at $26,000. J.Safra Asset Management Corp bought a new position in shares of CenterPoint Energy during the fourth quarter valued at $28,000. Assetmark Inc. raised its stake in shares of CenterPoint Energy by 657.1% during the fourth quarter. Assetmark Inc. now owns 901 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 782 shares during the last quarter. VSM Wealth Advisory LLC bought a new position in shares of CenterPoint Energy during the fourth quarter valued at $32,000. Finally, First Horizon Advisors Inc. raised its stake in shares of CenterPoint Energy by 51.3% during the third quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 375 shares during the last quarter. Institutional investors own 91.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Guggenheim downgraded shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. increased their price objective on shares of CenterPoint Energy from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 11th. Scotiabank upgraded shares of CenterPoint Energy from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $30.00 to $35.00 in a research report on Thursday, December 12th. Morgan Stanley decreased their price objective on shares of CenterPoint Energy from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Finally, Barclays increased their price objective on shares of CenterPoint Energy from $29.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $33.50.

CenterPoint Energy Stock Up 0.2 %

CNP opened at $35.66 on Wednesday. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.08 and a quick ratio of 0.92. The company’s 50-day moving average is $33.21 and its 200 day moving average is $31.30. CenterPoint Energy, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $35.88. The firm has a market capitalization of $23.27 billion, a P/E ratio of 22.43, a PEG ratio of 2.71 and a beta of 0.91.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.40 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.46 billion. Research analysts expect that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

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.