Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in CenterPoint Energy, Inc. (NYSE:CNP – Get Rating) by 8.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 416,071 shares of the utilities provider’s stock after buying an additional 32,603 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned about 0.07% of CenterPoint Energy worth $11,725,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Canton Hathaway LLC bought a new stake in shares of CenterPoint Energy in the second quarter valued at about $27,000. Covestor Ltd lifted its stake in shares of CenterPoint Energy by 176.7% in the first quarter. Covestor Ltd now owns 891 shares of the utilities provider’s stock valued at $27,000 after buying an additional 569 shares during the period. CoreCap Advisors LLC acquired a new position in CenterPoint Energy in the second quarter worth about $29,000. Legacy CG LLC acquired a new position in CenterPoint Energy in the second quarter worth about $36,000. Finally, CX Institutional acquired a new position in CenterPoint Energy in the second quarter worth about $37,000. Institutional investors own 90.28% of the company’s stock.
Insider Buying and Selling at CenterPoint Energy
In other CenterPoint Energy news, Director Barry T. Smitherman acquired 8,005 shares of CenterPoint Energy stock in a transaction on Monday, November 7th. The shares were purchased at an average cost of $28.38 per share, with a total value of $227,181.90. Following the completion of the purchase, the director now owns 20,534 shares in the company, valued at $582,754.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.
Analyst Upgrades and Downgrades
CenterPoint Energy Price Performance
CNP opened at $31.31 on Tuesday. CenterPoint Energy, Inc. has a one year low of $25.03 and a one year high of $33.50. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.89 and a quick ratio of 0.69. The company’s 50 day simple moving average is $30.26 and its 200-day simple moving average is $30.18. The stock has a market capitalization of $19.71 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 5.96 and a beta of 0.86.
CenterPoint Energy (NYSE:CNP – Get Rating) last released its quarterly earnings results on Tuesday, November 1st. The utilities provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. CenterPoint Energy had a net margin of 17.67% and a return on equity of 10.77%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Sell-side analysts anticipate that CenterPoint Energy, Inc. will post 1.39 earnings per share for the current fiscal year.
CenterPoint Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 9th. Shareholders of record on Thursday, February 16th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, February 15th. This is a boost from CenterPoint Energy’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 2.43%. CenterPoint Energy’s dividend payout ratio (DPR) is presently 29.88%.
CenterPoint Energy Profile
CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through Electric and Natural Gas segments. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as assets in the wholesale power market.
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