Viking Fund Management LLC acquired a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 45,000 shares of the utilities provider’s stock, valued at approximately $1,382,000.
Several other institutional investors also recently modified their holdings of CNP. Vanguard Group Inc raised its holdings in CenterPoint Energy by 10.6% in the 3rd quarter. Vanguard Group Inc now owns 54,775,862 shares of the utilities provider’s stock valued at $1,514,553,000 after acquiring an additional 5,270,138 shares during the last quarter. BlackRock Inc. raised its holdings in CenterPoint Energy by 2.1% in the 4th quarter. BlackRock Inc. now owns 50,135,104 shares of the utilities provider’s stock valued at $1,415,315,000 after acquiring an additional 1,025,294 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in CenterPoint Energy by 16.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,788,204 shares of the utilities provider’s stock valued at $219,860,000 after acquiring an additional 1,103,691 shares during the last quarter. Geode Capital Management LLC raised its holdings in CenterPoint Energy by 8.4% in the 4th quarter. Geode Capital Management LLC now owns 7,131,126 shares of the utilities provider’s stock valued at $200,993,000 after acquiring an additional 550,475 shares during the last quarter. Finally, FMR LLC raised its holdings in CenterPoint Energy by 114.6% in the 4th quarter. FMR LLC now owns 6,472,243 shares of the utilities provider’s stock valued at $182,711,000 after acquiring an additional 3,456,131 shares during the last quarter. Hedge funds and other institutional investors own 81.37% of the company’s stock.
Shares of NYSE CNP traded down $0.07 during trading on Monday, hitting $30.50. 100,500 shares of the company traded hands, compared to its average volume of 4,048,132. CenterPoint Energy, Inc. has a 1 year low of $24.81 and a 1 year high of $31.42. The stock has a market capitalization of $15.38 billion, a PE ratio of 19.08, a P/E/G ratio of 3.53 and a beta of 0.46. The company has a quick ratio of 2.01, a current ratio of 2.13 and a debt-to-equity ratio of 1.37.
CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings data on Thursday, February 28th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. CenterPoint Energy had a net margin of 3.48% and a return on equity of 14.16%. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the company earned $0.33 EPS. Equities research analysts expect that CenterPoint Energy, Inc. will post 1.64 EPS for the current fiscal year.
In related news, insider Milton Carroll sold 75,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $30.21, for a total transaction of $2,265,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph John Vortherms sold 2,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $30.10, for a total transaction of $60,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 132,000 shares of company stock valued at $3,983,610 over the last three months. Corporate insiders own 0.24% of the company’s stock.
Several brokerages have weighed in on CNP. Zacks Investment Research downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. ValuEngine downgraded CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Wells Fargo & Co reiterated a “buy” rating on shares of CenterPoint Energy in a report on Thursday, February 28th. Royal Bank of Canada upgraded CenterPoint Energy from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $29.00 to $34.00 in a report on Friday, January 18th. Finally, Guggenheim upgraded CenterPoint Energy from a “neutral” rating to a “buy” rating in a report on Monday, January 7th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $31.60.
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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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