Cinctive Capital Management LP Purchases 182,489 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Cinctive Capital Management LP lifted its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 91.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 383,080 shares of the utilities provider’s stock after buying an additional 182,489 shares during the quarter. Cinctive Capital Management LP’s holdings in CenterPoint Energy were worth $12,155,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of CenterPoint Energy during the 3rd quarter valued at about $26,000. J.Safra Asset Management Corp bought a new stake in shares of CenterPoint Energy in the fourth quarter worth $28,000. Assetmark Inc. grew its holdings in shares of CenterPoint Energy by 657.1% in the fourth quarter. Assetmark Inc. now owns 901 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 782 shares during the period. VSM Wealth Advisory LLC purchased a new stake in CenterPoint Energy during the fourth quarter valued at $32,000. Finally, BankPlus Trust Department bought a new position in CenterPoint Energy in the fourth quarter valued at about $40,000. 91.77% of the stock is currently owned by hedge funds and other institutional investors.

CenterPoint Energy Stock Up 1.6 %

CNP opened at $36.81 on Wednesday. The company has a market capitalization of $24.02 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. The firm has a 50-day simple moving average of $33.99 and a two-hundred day simple moving average of $31.88. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.91. CenterPoint Energy, Inc. has a 52 week low of $25.41 and a 52 week high of $37.17.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. CenterPoint Energy had a return on equity of 10.02% and a net margin of 11.79%. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.46 billion. Analysts forecast that CenterPoint Energy, Inc. will post 1.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on CNP. Guggenheim lowered shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. Evercore ISI upgraded shares of CenterPoint Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $36.00 to $37.00 in a research note on Tuesday, March 11th. LADENBURG THALM/SH SH began coverage on CenterPoint Energy in a research note on Thursday, December 12th. They issued a “buy” rating and a $34.50 price objective for the company. JPMorgan Chase & Co. lifted their target price on CenterPoint Energy from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. 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 report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $33.77.

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.