Private Asset Management Inc buys $4.6 Million stake in CenterPoint Energy (CNP)

CenterPoint Energy (CNP) : Private Asset Management Inc scooped up 2,665 additional shares in CenterPoint Energy during the most recent quarter end , according to a recent disclosure to the SEC on Apr 5, 2016. The investment management firm now holds a total of 219,263 shares of CenterPoint Energy which is valued at $4.6 Million.CenterPoint Energy makes up approximately 0.83% of Private Asset Management Inc’s portfolio.

On the company’s financial health, CenterPoint Energy reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 26, 2016. Analyst had a consensus of $0.24.Analysts expectations of $ 3016.29.During the same quarter in the previous year, the company posted $0.35 EPS.

Many Wall Street Analysts have commented on CenterPoint Energy. Company shares were Reiterated by Deutsche Bank on Feb 29, 2016 to “Hold”, Firm has raised the Price Target to $ 18 from a previous price target of $17 .Shares were Reiterated by Argus on Jan 12, 2016 to “Buy” and Lowered the Price Target to $ 22 from a previous price target of $25 .Shares were Downgraded by Sun Trust Rbsn Humphrey on Jan 11, 2016 to ” Neutral” and Lowered the Price Target to $ 18 from a previous price target of $19 .

CenterPoint Energy closed down -0.05 points or -0.24% at $20.86 with 23,29,092 shares getting traded on Monday. Post opening the session at $20.95, the shares hit an intraday low of $20.8 and an intraday high of $21.15 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

CenterPoint Energy Inc. is a public utility holding company. The company’s segments include: Electric Transmission & Distribution Natural Gas Distribution Energy Services Midstream Investments and Other Operations. Electric Transmission & Distribution provides electric transmission and distribution services to retail electric providers. Natural Gas Distribution offers intrastate natural gas sales to and natural gas transportation and distribution for residential commercial industrial and institutional customers. Energy Services includes non-rate regulated gas sales and services operations. Midstream Investments segment includes equity earnings associated with the operations of Enable Midstream Partners LP and a 0.1% interest in Southeast Supply Header LLC owned by CenterPoint Energy Resources Corp. Other Operations includes office buildings and other real estate used in its business operations and other corporate operations which support all of its business operations.

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