Guggenheim Capital LLC lessened its stake in Houston Lighting & Power (NYSE:CNP) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,713,865 shares of the utilities provider’s stock after selling 64,947 shares during the quarter. Guggenheim Capital LLC owned approximately 0.40% of Houston Lighting & Power worth $48,605,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Tortoise Investment Management LLC purchased a new position in Houston Lighting & Power in the third quarter worth $120,000. NuWave Investment Management LLC purchased a new stake in Houston Lighting & Power during the fourth quarter valued at about $132,000. SeaCrest Wealth Management LLC purchased a new stake in Houston Lighting & Power during the fourth quarter valued at about $135,000. Welch Group LLC bought a new position in shares of Houston Lighting & Power during the fourth quarter valued at about $148,000. Finally, Buckingham Asset Management LLC bought a new position in shares of Houston Lighting & Power during the third quarter valued at about $201,000. 76.77% of the stock is currently owned by institutional investors.
NYSE CNP traded down $0.40 on Friday, reaching $26.89. The company had a trading volume of 5,287,944 shares, compared to its average volume of 5,817,479. Houston Lighting & Power has a 12 month low of $25.84 and a 12 month high of $30.45. The company has a market cap of $11,590.88, a P/E ratio of 19.63, a P/E/G ratio of 2.95 and a beta of 0.49. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.98 and a current ratio of 1.11.
Houston Lighting & Power (NYSE:CNP) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Houston Lighting & Power had a net margin of 18.64% and a return on equity of 15.51%. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period last year, the company posted $0.26 EPS. The business’s revenue was up 26.8% on a year-over-year basis. analysts forecast that Houston Lighting & Power will post 1.55 EPS for the current fiscal year.
Several equities analysts have recently commented on CNP shares. Zacks Investment Research raised shares of Houston Lighting & Power from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. SunTrust Banks reissued a “hold” rating and issued a $28.00 price target on shares of Houston Lighting & Power in a research note on Tuesday, December 26th. Guggenheim reaffirmed 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 cut shares of Houston Lighting & Power from a “neutral” rating to an “underperform” rating in a report on Thursday, March 22nd. Finally, Citigroup cut their price target on shares of Houston Lighting & Power from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, March 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Houston Lighting & Power presently has a consensus rating of “Hold” and a consensus target price of $28.67.
In other Houston Lighting & Power news, insider Milton Carroll sold 43,363 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $27.20, for a total value of $1,179,473.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott M. Prochazka sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $27.91, for a total transaction of $27,910.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,363 shares of company stock valued at $1,342,894. 0.22% of the stock is owned by corporate insiders.
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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.
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