HITE Hedge Asset Management LLC Raises Holdings in CenterPoint Energy, Inc. $CNP

HITE Hedge Asset Management LLC increased its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 19.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,647,826 shares of the utilities provider’s stock after buying an additional 267,272 shares during the period. CenterPoint Energy accounts for about 3.5% of HITE Hedge Asset Management LLC’s holdings, making the stock its 7th largest holding. HITE Hedge Asset Management LLC’s holdings in CenterPoint Energy were worth $63,936,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in CenterPoint Energy in the third quarter worth $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of CenterPoint Energy in the third quarter worth $26,000. LRI Investments LLC increased its holdings in shares of CenterPoint Energy by 107.9% during the third quarter. LRI Investments LLC now owns 684 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 355 shares in the last quarter. First Horizon Corp purchased a new position in shares of CenterPoint Energy in the 3rd quarter worth about $30,000. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of CenterPoint Energy in the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Trading Up 1.0%

CenterPoint Energy stock opened at $43.38 on Friday. CenterPoint Energy, Inc. has a one year low of $34.38 and a one year high of $44.04. The business’s fifty day moving average is $40.86 and its 200 day moving average is $39.45. The stock has a market capitalization of $28.38 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 2.54 and a beta of 0.58. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.91 and a quick ratio of 0.79.

CenterPoint Energy (NYSE:CNP) last issued its earnings results on Thursday, February 19th. The utilities provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.23 billion. CenterPoint Energy had a return on equity of 10.46% and a net margin of 11.24%.During the same period last year, the firm posted $0.40 EPS. CenterPoint Energy has set its FY 2026 guidance at 1.900- EPS. On average, sell-side analysts predict that CenterPoint Energy, Inc. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CNP. Wall Street Zen upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. UBS Group reduced their price objective on shares of CenterPoint Energy from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Barclays decreased their target price on shares of CenterPoint Energy from $41.00 to $38.00 and set an “equal weight” rating for the company in a report on Thursday, January 15th. JPMorgan Chase & Co. cut their price target on shares of CenterPoint Energy from $43.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, December 11th. Finally, Wells Fargo & Company raised their price target on shares of CenterPoint Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $42.55.

CenterPoint Energy Profile

CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.