Highbridge Capital Management LLC Invests $4.15 Million in CenterPoint Energy, Inc. (CNP) Stock

Highbridge Capital Management LLC bought a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 150,000 shares of the utilities provider’s stock, valued at approximately $4,148,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Braun Bostich & Associates Inc. raised its stake in CenterPoint Energy by 1,372.0% during the second quarter. Braun Bostich & Associates Inc. now owns 4,151 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 3,869 shares in the last quarter. Ropes Wealth Advisors LLC acquired a new position in CenterPoint Energy during the second quarter worth about $130,000. Signet Financial Management LLC raised its stake in CenterPoint Energy by 649.6% during the second quarter. Signet Financial Management LLC now owns 5,322 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 4,612 shares in the last quarter. FNY Investment Advisers LLC raised its stake in CenterPoint Energy by 2,962.2% during the third quarter. FNY Investment Advisers LLC now owns 6,400 shares of the utilities provider’s stock worth $176,000 after acquiring an additional 6,191 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in CenterPoint Energy by 422.1% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,396 shares of the utilities provider’s stock worth $177,000 after acquiring an additional 5,171 shares in the last quarter. 79.72% of the stock is owned by hedge funds and other institutional investors.

CNP has been the subject of several research analyst reports. JPMorgan Chase & Co. raised CenterPoint Energy from a “neutral” rating to an “overweight” rating and set a $31.00 target price for the company in a research note on Wednesday, September 5th. ValuEngine raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Barclays initiated coverage on CenterPoint Energy in a research note on Monday, October 22nd. They set a “hold” rating and a $30.00 target price for the company. Zacks Investment Research raised CenterPoint Energy from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Wednesday, October 3rd. Finally, Wells Fargo & Co reissued a “buy” rating on shares of CenterPoint Energy in a research note on Friday, November 9th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $29.44.

In related news, CEO Scott M. Prochazka sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $27.54, for a total value of $110,160.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

CenterPoint Energy stock opened at $28.05 on Thursday. CenterPoint Energy, Inc. has a 1 year low of $24.81 and a 1 year high of $29.36. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.06 and a quick ratio of 0.90. The company has a market capitalization of $14.06 billion, a PE ratio of 20.47, a PEG ratio of 3.01 and a beta of 0.46.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, November 8th. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). CenterPoint Energy had a net margin of 15.15% and a return on equity of 14.40%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the company earned $0.38 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts predict that CenterPoint Energy, Inc. will post 1.57 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 15th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Wednesday, November 14th. CenterPoint Energy’s payout ratio is presently 81.02%.

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CenterPoint Energy Company Profile

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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Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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