Meag Munich Ergo Kapitalanlagegesellschaft MBH Takes $9.09 Million Position in CenterPoint Energy, Inc. (CNP)
Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 310,822 shares of the utilities provider’s stock, valued at approximately $9,089,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH owned 0.07% of CenterPoint Energy at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Paradigm Asset Management Co. LLC increased its holdings in CenterPoint Energy by 2.2% in the 2nd quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock valued at $126,000 after buying an additional 100 shares during the period. IHT Wealth Management LLC bought a new stake in CenterPoint Energy in the 2nd quarter valued at $153,000. Pinebridge Investments L.P. bought a new stake in CenterPoint Energy in the 2nd quarter valued at $154,000. Huntington National Bank increased its holdings in CenterPoint Energy by 58.1% in the 2nd quarter. Huntington National Bank now owns 6,121 shares of the utilities provider’s stock valued at $168,000 after buying an additional 2,250 shares during the period. Finally, Eagle Ridge Investment Management bought a new stake in CenterPoint Energy in the 3rd quarter valued at $201,000. 77.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of CenterPoint Energy, Inc. (CNP) traded up $0.07 during midday trading on Monday, reaching $29.48. 420,547 shares of the company traded hands, compared to its average volume of 2,838,937. The firm has a market cap of $12,700.00, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 4.07 and a beta of 0.64. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 2.08. CenterPoint Energy, Inc. has a 1-year low of $22.32 and a 1-year high of $30.45.
CenterPoint Energy (NYSE:CNP) last issued its quarterly earnings results on Friday, November 3rd. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.07 billion. CenterPoint Energy had a net margin of 6.59% and a return on equity of 16.00%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. research analysts predict that CenterPoint Energy, Inc. will post 1.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Thursday, November 16th will be given a dividend of $0.2675 per share. The ex-dividend date is Wednesday, November 15th. This represents a $1.07 annualized dividend and a yield of 3.63%. CenterPoint Energy’s dividend payout ratio (DPR) is 77.54%.
In related news, CEO Scott M. Prochazka sold 1,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $29.61, for a total transaction of $29,610.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 3,000 shares of company stock worth $88,300. 0.20% of the stock is owned by corporate insiders.
CNP has been the topic of several analyst reports. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Monday, July 17th. BidaskClub upgraded shares of CenterPoint Energy from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Credit Suisse Group upgraded shares of CenterPoint Energy from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $28.82 to $29.00 in a research note on Monday, August 14th. Royal Bank Of Canada restated a “hold” rating and issued a $29.00 target price on shares of CenterPoint Energy in a research note on Monday, September 11th. Finally, SunTrust Banks, Inc. restated a “hold” rating and issued a $30.00 target price on shares of CenterPoint Energy in a research note on Monday, October 2nd. Nine equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. CenterPoint Energy presently has a consensus rating of “Hold” and an average price target of $28.75.
CenterPoint Energy Profile
CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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 & Stock Ratings for CenterPoint Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenterPoint Energy Inc. and related stocks with our FREE daily email newsletter.