Tokio Marine Asset Management Co. Ltd. Grows Stock Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Posted by Defense World Staff on Apr 8th, 2023

Tokio Marine Asset Management Co. Ltd. raised its position in shares of CenterPoint Energy, Inc. (NYSE:CNP – Get Rating) by 22.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,208 shares of the utilities provider’s stock after purchasing an additional 2,394 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in CenterPoint Energy were worth $396,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in CenterPoint Energy by 8.5% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 416,071 shares of the utilities provider’s stock valued at $11,725,000 after purchasing an additional 32,603 shares in the last quarter. Royal London Asset Management Ltd. raised its position in CenterPoint Energy by 6.3% during the second quarter. Royal London Asset Management Ltd. now owns 222,388 shares of the utilities provider’s stock valued at $6,579,000 after purchasing an additional 13,140 shares in the last quarter. California Public Employees Retirement System raised its position in CenterPoint Energy by 30.2% during the third quarter. California Public Employees Retirement System now owns 1,436,671 shares of the utilities provider’s stock valued at $40,485,000 after purchasing an additional 333,476 shares in the last quarter. Mackenzie Financial Corp raised its position in CenterPoint Energy by 12.4% during the third quarter. Mackenzie Financial Corp now owns 60,508 shares of the utilities provider’s stock valued at $1,705,000 after purchasing an additional 6,671 shares in the last quarter. Finally, NuWave Investment Management LLC purchased a new position in shares of CenterPoint Energy in the third quarter worth about $85,000. Hedge funds and other institutional investors own 90.28% of the company’s stock.

Analyst Ratings Changes

CNP has been the topic of several analyst reports. StockNews.com downgraded CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Friday. Morgan Stanley decreased their price objective on CenterPoint Energy from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Tuesday, March 21st. Guggenheim downgraded CenterPoint Energy from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $31.00 to $32.00 in a report on Monday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $33.00 price objective on shares of CenterPoint Energy in a report on Monday, March 6th. Finally, Wells Fargo & Company raised their target price on CenterPoint Energy to $35.00 in a research note on Wednesday, December 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.38.

CenterPoint Energy Stock Performance

Shares of CNP opened at $30.77 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.92 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average price is $28.93 and its 200-day moving average price is $29.31. CenterPoint Energy, Inc. has a 52 week low of $25.03 and a 52 week high of $33.50. The stock has a market cap of $19.42 billion, a P/E ratio of 19.35, a P/E/G ratio of 2.82 and a beta of 0.88.

CenterPoint Energy (NYSE:CNP – Get Rating) last announced its quarterly earnings data on Friday, February 17th. The utilities provider reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). CenterPoint Energy had a return on equity of 9.88% and a net margin of 11.21%. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Equities research analysts anticipate that CenterPoint Energy, Inc. will post 1.49 earnings per share for the current fiscal year.

CenterPoint Energy Company Profile

(Get Rating)

CenterPoint Energy, Inc is a holding company, which engages in the business of power generation and distribution. It operates through the following segments: CenterPoint Energy, Houston Electric, and CERC. The CenterPoint Energy segment consists of electric transmission and distribution services in the Texas gulf coast area in the ERCOT region and electric transmission and distribution services primarily to southwestern Indiana and includes power generation and wholesale power operations in the MISO region.