Sanibel Captiva Trust Company Inc. Boosts Stock Position in CenterPoint Energy, Inc. (NYSE:CNP)

Sanibel Captiva Trust Company Inc. boosted its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 11.4% during the first quarter, Holdings Channel reports. The firm owned 8,792 shares of the utilities provider’s stock after acquiring an additional 900 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in CenterPoint Energy were worth $250,000 at the end of the most recent quarter.

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

CenterPoint Energy Stock Down 3.8 %

CNP stock opened at $27.08 on Friday. The business has a 50 day moving average of $29.89 and a 200 day moving average of $28.85. The firm has a market cap of $17.38 billion, a PE ratio of 19.07, a price-to-earnings-growth 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 company has a quick ratio of 1.06, a current ratio of 1.20 and a debt-to-equity ratio of 1.79.

CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results 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 the consensus estimate of $1.88 billion. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. During the same period last year, the company earned $0.28 earnings per share. On average, research analysts forecast that CenterPoint Energy, Inc. will post 1.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CNP shares. Morgan Stanley cut 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 report on Wednesday, July 17th. JPMorgan Chase & Co. downgraded CenterPoint Energy from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $32.00 to $29.00 in a report on Friday. Scotiabank lowered their target price on CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. KeyCorp lowered CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a research report on Friday. Finally, BMO Capital Markets downgraded CenterPoint Energy from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $31.00 to $28.00 in a report on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $29.90.

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.