Gabelli Funds LLC Has $3.39 Million Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Gabelli Funds LLC increased its holdings in CenterPoint Energy, Inc. (NYSE:CNP) by 0.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,000 shares of the utilities provider’s stock after buying an additional 500 shares during the period. Gabelli Funds LLC’s holdings in CenterPoint Energy were worth $3,390,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in CNP. Capital International Investors grew its stake in CenterPoint Energy by 1.0% during the first quarter. Capital International Investors now owns 83,754,579 shares of the utilities provider’s stock worth $2,386,168,000 after buying an additional 865,120 shares in the last quarter. Cohen & Steers Inc. raised its position in CenterPoint Energy by 24.5% during the fourth quarter. Cohen & Steers Inc. now owns 8,030,646 shares of the utilities provider’s stock valued at $229,436,000 after purchasing an additional 1,578,948 shares in the last quarter. Northern Trust Corp lifted its stake in CenterPoint Energy by 0.8% during the fourth quarter. Northern Trust Corp now owns 5,952,992 shares of the utilities provider’s stock worth $170,077,000 after purchasing an additional 46,232 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in shares of CenterPoint Energy by 1.0% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 5,402,677 shares of the utilities provider’s stock valued at $154,354,000 after purchasing an additional 54,476 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of CenterPoint Energy by 96.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,958,562 shares of the utilities provider’s stock valued at $141,666,000 after purchasing an additional 2,428,640 shares in the last quarter. 91.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CNP has been the subject of several recent analyst reports. Scotiabank dropped their price objective on CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Morgan Stanley downgraded shares of CenterPoint Energy from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $30.00 to $29.00 in a research note on Wednesday, July 17th. KeyCorp decreased their price target on shares of CenterPoint Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. StockNews.com downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. Finally, BMO Capital Markets cut their target price on shares of CenterPoint Energy from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, CenterPoint Energy has an average rating of “Hold” and a consensus price target of $30.60.

Insider Transactions at CenterPoint Energy

In other CenterPoint Energy news, Director Barry T. Smitherman sold 5,670 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $29.42, for a total transaction of $166,811.40. Following the completion of the sale, the director now directly owns 21,203 shares in the company, valued at approximately $623,792.26. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

CenterPoint Energy Trading Up 1.7 %

NYSE:CNP traded up $0.48 during trading hours on Friday, hitting $29.36. 4,664,965 shares of the company were exchanged, compared to its average volume of 5,805,707. The stock has a market capitalization of $18.78 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 2.54 and a beta of 0.92. CenterPoint Energy, Inc. has a one year low of $25.42 and a one year high of $31.57. The company has a fifty day simple moving average of $30.07 and a 200 day simple moving average of $28.87. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 1.81.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. CenterPoint Energy had a return on equity of 10.57% and a net margin of 11.03%. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the company earned $0.50 earnings per share. Sell-side analysts expect that CenterPoint Energy, Inc. will post 1.62 EPS for the current fiscal 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.