5 Best Utility Stocks to Buy According to Financial Media

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

Number of Hedge Fund Holders: 25

Number of Times Stock Appeared in Top Picks of Financial Media: 4

CenterPoint Energy, Inc. (NYSE:CNP) is a Texas-based public utility holding company. On October 16, investment advisory BMO Capital maintained an Outperform rating on CenterPoint Energy, Inc. (NYSE:CNP) stock and lowered the price target to $30 from $34. 

At the end of the third quarter of 2023, 25 hedge funds in the database of Insider Monkey held stakes worth $301 million in CenterPoint Energy, Inc. (NYSE:CNP), the same as in the previous quarter worth $386 million.

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in CenterPoint Energy, Inc. (NYSE:CNP) with 3.4 million shares worth more than $92 million.