DekaBank Deutsche Girozentrale Purchases 64,321 Shares of CenterPoint Energy, Inc. (CNP)

DekaBank Deutsche Girozentrale grew its position in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 117.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 119,073 shares of the utilities provider’s stock after acquiring an additional 64,321 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in CenterPoint Energy were worth $3,511,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Paradigm Asset Management Co. LLC raised its stake in shares of CenterPoint Energy by 2.2% during the second quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 100 shares in the last quarter. IHT Wealth Management LLC bought a new stake in shares of CenterPoint Energy during the second quarter valued at about $153,000. Pinebridge Investments L.P. bought a new stake in CenterPoint Energy in the second quarter worth about $154,000. Huntington National Bank raised its position in CenterPoint Energy by 58.1% in the second quarter. Huntington National Bank now owns 6,121 shares of the utilities provider’s stock worth $168,000 after acquiring an additional 2,250 shares in the last quarter. Finally, Eagle Ridge Investment Management bought a new stake in CenterPoint Energy in the third quarter worth about $201,000. Institutional investors and hedge funds own 77.98% of the company’s stock.

Shares of CenterPoint Energy, Inc. (NYSE:CNP) traded up $0.10 during midday trading on Wednesday, hitting $29.01. The company had a trading volume of 3,617,958 shares, compared to its average volume of 2,827,814. CenterPoint Energy, Inc. has a twelve month low of $23.75 and a twelve month high of $30.45. The firm has a market capitalization of $12,655.14, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 4.05 and a beta of 0.62. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 2.08.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Friday, November 3rd. The utilities provider reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. CenterPoint Energy had a return on equity of 16.00% and a net margin of 6.59%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the business posted $0.41 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. equities analysts anticipate that CenterPoint Energy, Inc. will post 1.31 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 16th will be given a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Wednesday, November 15th. CenterPoint Energy’s dividend payout ratio (DPR) is 78.10%.

Several analysts have issued reports on CNP shares. Bank of America assumed coverage on CenterPoint Energy in a report on Tuesday, October 24th. They set a “neutral” rating and a $30.00 price objective on the stock. BidaskClub raised CenterPoint Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Guggenheim lowered CenterPoint Energy from a “buy” rating to a “neutral” rating in a report on Monday. They noted that the move was a valuation call. Zacks Investment Research lowered CenterPoint Energy from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, J P Morgan Chase & Co set a $30.00 price target on CenterPoint Energy and gave the stock a “hold” rating in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $28.89.

In other CenterPoint Energy news, CEO Scott M. Prochazka sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $29.61, for a total value of $29,610.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 3,000 shares of company stock worth $88,080 over the last quarter. Company insiders own 0.20% of the company’s stock.

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About CenterPoint Energy

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.

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

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