Allstate Corp Invests $616,000 in CenterPoint Energy, Inc. (NYSE:CNP)

Allstate Corp acquired a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 19,422 shares of the utilities provider’s stock, valued at approximately $616,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNP. Wilmington Savings Fund Society FSB bought a new stake in shares of CenterPoint Energy in the third quarter valued at approximately $26,000. J.Safra Asset Management Corp acquired a new position in CenterPoint Energy during the 4th quarter valued at $28,000. Assetmark Inc. boosted its holdings in CenterPoint Energy by 657.1% in the 4th quarter. Assetmark Inc. now owns 901 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 782 shares during the period. VSM Wealth Advisory LLC acquired a new stake in CenterPoint Energy in the 4th quarter worth $32,000. Finally, BankPlus Trust Department bought a new position in shares of CenterPoint Energy during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

CenterPoint Energy Stock Performance

CNP stock opened at $36.81 on Wednesday. The stock has a market capitalization of $24.02 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of 2.71 and a beta of 0.91. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.08 and a quick ratio of 0.92. The company has a 50 day moving average price of $33.99 and a 200 day moving average price of $31.88. CenterPoint Energy, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $36.97.

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

Analyst Ratings Changes

CNP has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on shares of CenterPoint Energy from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. LADENBURG THALM/SH SH initiated coverage on CenterPoint Energy in a report on Thursday, December 12th. They set a “buy” rating and a $34.50 price objective on the stock. Guggenheim lowered CenterPoint Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Evercore ISI raised CenterPoint Energy from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $36.00 to $37.00 in a research report on Tuesday, March 11th. Finally, Barclays increased their price target on shares of CenterPoint Energy from $29.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, CenterPoint Energy has an average rating of “Hold” and an average price target of $33.77.

About CenterPoint Energy

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.