First Hawaiian Bank Invests $252,000 in CenterPoint Energy, Inc. (NYSE:CNP)

First Hawaiian Bank bought a new stake in CenterPoint Energy, Inc. (NYSE:CNP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,128 shares of the utilities provider’s stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Global Retirement Partners LLC raised its stake in shares of CenterPoint Energy by 163.7% during the fourth quarter. Global Retirement Partners LLC now owns 894 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 555 shares during the period. Arizona State Retirement System grew its stake in shares of CenterPoint Energy by 0.8% during the fourth quarter. Arizona State Retirement System now owns 173,474 shares of the utilities provider’s stock valued at $4,956,000 after acquiring an additional 1,317 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of CenterPoint Energy by 5.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 270,203 shares of the utilities provider’s stock worth $7,717,000 after acquiring an additional 14,036 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of CenterPoint Energy by 439.2% in the fourth quarter. International Assets Investment Management LLC now owns 128,599 shares of the utilities provider’s stock worth $36,740,000 after acquiring an additional 104,751 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new position in CenterPoint Energy in the fourth quarter valued at about $391,000. Institutional investors and hedge funds own 91.77% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CNP. Scotiabank cut their price target on shares of CenterPoint Energy from $31.00 to $29.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. KeyCorp downgraded CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a research note on Friday. StockNews.com raised CenterPoint Energy from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. 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. Finally, Morgan Stanley lowered CenterPoint Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $30.00 to $29.00 in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.90.

CenterPoint Energy Stock Performance

Shares of CNP traded up $0.05 during midday trading on Tuesday, hitting $25.98. 4,331,189 shares of the stock traded hands, compared to its average volume of 4,968,694. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.06 and a current ratio of 1.20. CenterPoint Energy, Inc. has a 1-year low of $25.42 and a 1-year high of $31.57. The business’s 50 day moving average price is $29.82 and its two-hundred day moving average price is $28.85. The firm has a market capitalization of $16.68 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 2.48 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.88 billion. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. During the same quarter in the prior year, the business posted $0.28 earnings per share. Equities research analysts predict that CenterPoint Energy, Inc. will post 1.62 EPS for the current fiscal year.

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.