Federated Hermes Inc. Grows Position in CenterPoint Energy, Inc. (NYSE:CNP)

Federated Hermes Inc. lifted its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 1.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,099,612 shares of the utilities provider’s stock after purchasing an additional 14,030 shares during the quarter. Federated Hermes Inc. owned about 0.17% of CenterPoint Energy worth $34,891,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new stake in CenterPoint Energy during the fourth quarter worth approximately $158,232,000. American Century Companies Inc. lifted its holdings in shares of CenterPoint Energy by 1,431.1% during the 4th quarter. American Century Companies Inc. now owns 3,408,551 shares of the utilities provider’s stock valued at $108,153,000 after acquiring an additional 3,185,932 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in CenterPoint Energy during the 4th quarter worth $97,348,000. Schroder Investment Management Group increased its holdings in CenterPoint Energy by 809.7% in the 4th quarter. Schroder Investment Management Group now owns 545,239 shares of the utilities provider’s stock valued at $17,355,000 after purchasing an additional 485,302 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in CenterPoint Energy by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 15,490,728 shares of the utilities provider’s stock valued at $490,205,000 after purchasing an additional 406,832 shares during the period. Institutional investors and hedge funds own 91.77% of the company’s stock.

CenterPoint Energy Stock Down 1.4 %

NYSE:CNP opened at $35.57 on Tuesday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.92 and a current ratio of 1.08. The company has a market capitalization of $23.22 billion, a price-to-earnings ratio of 22.37, a price-to-earnings-growth ratio of 2.71 and a beta of 0.65. CenterPoint Energy, Inc. has a one year low of $25.41 and a one year high of $37.70. The stock has a 50-day simple moving average of $34.31 and a 200 day simple moving average of $32.12.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Thursday, February 20th. The utilities provider reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.46 billion. CenterPoint Energy had a return on equity of 10.02% and a net margin of 11.79%. Sell-side analysts predict that CenterPoint Energy, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Morgan Stanley increased their target price on CenterPoint Energy from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. BMO Capital Markets increased their price objective on shares of CenterPoint Energy from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, March 17th. Scotiabank raised shares of CenterPoint Energy from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $30.00 to $35.00 in a research report on Thursday, December 12th. Evercore ISI raised shares of CenterPoint Energy from an “in-line” rating to an “outperform” rating and raised their price target for the company from $36.00 to $37.00 in a report on Tuesday, March 11th. Finally, Jefferies Financial Group started coverage on shares of CenterPoint Energy in a report on Wednesday, April 2nd. They issued a “buy” rating and a $42.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $34.46.

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.