Top 5 Stock Picks of Cinctive Capital Management

3. CenterPoint Energy, Inc. (NYSE:CNP)

Cinctive Capital Management’s Stake Value: $30,319,000
Percentage of Cinctive Capital Management’s 13F Portfolio: 1.12%
Number of Hedge Fund Holders: 23

In the second quarter earnings published on August 2 by CenterPoint Energy, Inc. (NYSE:CNP), a holding company for public utilities, the EPS totaled $0.31, beating estimates by $0.04. In the first quarter of 2022, Cinctive Capital Management held 989,530 shares of CenterPoint Energy, Inc. (NYSE:CNP), which amounted to $30.32 million. CenterPoint Energy, Inc. (NYSE:CNP) occupied 1.12% of the hedge fund’s total portfolio.

Jim Simons’ Renaissance Technologies held a significant stake in CenterPoint Energy, Inc. (NYSE:CNP) at the end of the first quarter of 2022, equaling $21.83 million. Insider Monkey spotted 23 hedge funds that were long CenterPoint Energy, Inc. (NYSE:CNP) at the end of Q1 2022. The collective stakes of these hedge funds totaled $234.93 million, compared to $165.94 million a quarter ago with 25 positions.

Barclays analyst Eric Beaumont maintained an ‘Overweight’ rating on CenterPoint Energy, Inc. (NYSE:CNP) on July 18 while lowering his price objective to $33 from $36. Analysts revised their pricing predictions for the North American power and utilities segment to indicate a lower group multiple than originally assumed.

In its Q3 2021 investor letter, Miller Howard Investments highlighted a few stocks, and CenterPoint Energy, Inc. (NYSE:CNP) was one of them. Here is what the fund said:

“In late August, we increased the portfolio’s cyclical exposure by trimming utilities after a period of relative outperformance and reallocating the capital to midstream energy, which had pulled back over the summer. Additionally, we trimmed CenterPoint Energy, Inc. (NYSE:CNP) after periods of relative strength. We had previously increased our positions in late 2020 and February 2021, respectively, after periods of relative weakness.”