Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 160.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 171,085 shares of the utilities provider’s stock after buying an additional 105,366 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in CenterPoint Energy were worth $4,731,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of CNP. Braun Bostich & Associates Inc. raised its stake in shares of CenterPoint Energy by 1,372.0% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 4,151 shares of the utilities provider’s stock worth $115,000 after buying an additional 3,869 shares in the last quarter. Ropes Wealth Advisors LLC purchased a new position in shares of CenterPoint Energy during the 2nd quarter worth approximately $130,000. Signet Financial Management LLC raised its stake in shares of CenterPoint Energy by 649.6% during the 2nd quarter. Signet Financial Management LLC now owns 5,322 shares of the utilities provider’s stock worth $147,000 after buying an additional 4,612 shares in the last quarter. FNY Investment Advisers LLC raised its stake in shares of CenterPoint Energy by 2,962.2% during the 3rd quarter. FNY Investment Advisers LLC now owns 6,400 shares of the utilities provider’s stock worth $176,000 after buying an additional 6,191 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of CenterPoint Energy by 422.1% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,396 shares of the utilities provider’s stock worth $177,000 after buying an additional 5,171 shares in the last quarter. 79.72% of the stock is owned by institutional investors and hedge funds.
NYSE CNP opened at $28.38 on Friday. CenterPoint Energy, Inc. has a 1-year low of $24.81 and a 1-year high of $29.06. The company has a market capitalization of $14.12 billion, a P/E ratio of 20.72, a PEG ratio of 3.02 and a beta of 0.46. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.54.
CenterPoint Energy (NYSE:CNP) last released its quarterly earnings data on Thursday, November 8th. The utilities provider reported $0.39 earnings per share for the quarter, missing the 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 analysts’ expectations of $2.26 billion. During the same period in the previous year, the business earned $0.38 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts expect that CenterPoint Energy, Inc. will post 1.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 15th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Wednesday, November 14th. CenterPoint Energy’s payout ratio is currently 81.02%.
A number of brokerages have recently issued reports on CNP. Barclays set a $31.00 target price on CenterPoint Energy and gave the stock a “hold” rating in a research note on Saturday, November 17th. Wells Fargo & Co reaffirmed a “buy” rating on shares of CenterPoint Energy in a research note on Friday, November 9th. Zacks Investment Research raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Monday, October 22nd. ValuEngine raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Finally, JPMorgan Chase & Co. raised their price objective on CenterPoint Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, October 9th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $29.44.
In related news, CEO Scott M. Prochazka sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $27.09, for a total value of $108,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 12,000 shares of company stock valued at $331,200 over the last ninety days. 0.22% of the stock is currently owned by company insiders.
About CenterPoint Energy
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.
Recommended Story: Risk Tolerance and Your Investment Decisions
Want to see what other hedge funds are holding CNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CenterPoint Energy, Inc. (NYSE:CNP).
Receive News & Ratings for CenterPoint Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy and related companies with MarketBeat.com's FREE daily email newsletter.