Verition Fund Management LLC Acquires New Holdings in Houston Lighting & Power (NYSE:CNP)

Verition Fund Management LLC purchased a new position in Houston Lighting & Power (NYSE:CNP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 83,000 shares of the utilities provider’s stock, valued at approximately $2,354,000.

Several other large investors also recently modified their holdings of CNP. Nomura Asset Management Co. Ltd. increased its stake in Houston Lighting & Power by 6.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 65,817 shares of the utilities provider’s stock valued at $1,922,000 after purchasing an additional 4,236 shares during the last quarter. Stifel Financial Corp increased its stake in Houston Lighting & Power by 36.3% during the third quarter. Stifel Financial Corp now owns 101,185 shares of the utilities provider’s stock valued at $2,960,000 after purchasing an additional 26,964 shares during the last quarter. California Public Employees Retirement System increased its stake in Houston Lighting & Power by 3.8% during the third quarter. California Public Employees Retirement System now owns 1,414,659 shares of the utilities provider’s stock valued at $41,322,000 after purchasing an additional 51,222 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in Houston Lighting & Power by 7.1% during the third quarter. Parametric Portfolio Associates LLC now owns 1,719,131 shares of the utilities provider’s stock valued at $50,216,000 after purchasing an additional 114,428 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Houston Lighting & Power by 68.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 484,694 shares of the utilities provider’s stock valued at $14,158,000 after purchasing an additional 197,788 shares during the last quarter. Institutional investors and hedge funds own 76.77% of the company’s stock.

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Several analysts have weighed in on CNP shares. Zacks Investment Research upgraded shares of Houston Lighting & Power from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. SunTrust Banks reiterated a “hold” rating and set a $28.00 target price on shares of Houston Lighting & Power in a research note on Tuesday, December 26th. Guggenheim reiterated a “hold” rating and set a $28.00 target price on shares of Houston Lighting & Power in a research note on Friday, February 23rd. Bank of America lowered shares of Houston Lighting & Power from a “neutral” rating to an “underperform” rating in a research note on Thursday, March 22nd. Finally, Citigroup lowered their target price on shares of Houston Lighting & Power from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Tuesday, March 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $28.67.

In related news, CEO Scott M. Prochazka sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $27.91, for a total value of $27,910.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott M. Prochazka sold 4,000 shares of the company’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $27.13, for a total transaction of $108,520.00. The disclosure for this sale can be found here. Insiders have sold 49,363 shares of company stock valued at $1,342,894 in the last 90 days. Insiders own 0.22% of the company’s stock.

Houston Lighting & Power stock opened at $26.89 on Friday. The stock has a market cap of $11,724.51, a PE ratio of 19.63, a PEG ratio of 2.99 and a beta of 0.49. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.11 and a quick ratio of 0.98. Houston Lighting & Power has a one year low of $25.84 and a one year high of $30.45.

Houston Lighting & Power (NYSE:CNP) last released its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.33 billion. Houston Lighting & Power had a net margin of 18.64% and a return on equity of 15.51%. The company’s quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. equities research analysts predict that Houston Lighting & Power will post 1.55 EPS for the current year.

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About Houston Lighting & Power

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company's Electric Transmission & Distribution segment offers electric transmission and distribution services to retail electric providers, municipalities, electric cooperatives, and other distribution companies.

Institutional Ownership by Quarter for Houston Lighting & Power (NYSE:CNP)

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