Daiwa Securities Group Inc. Acquires 51,300 Shares of CenterPoint Energy Inc. (CNP)
Daiwa Securities Group Inc. raised its stake in CenterPoint Energy Inc. (NYSE:CNP) by 55.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 143,800 shares of the company’s stock after buying an additional 51,300 shares during the period. Daiwa Securities Group Inc.’s holdings in CenterPoint Energy were worth $3,340,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. M&T Bank Corp increased its position in CenterPoint Energy by 5.7% in the third quarter. M&T Bank Corp now owns 20,655 shares of the company’s stock valued at $480,000 after buying an additional 1,118 shares during the period. Smithfield Trust Co. acquired a new position in CenterPoint Energy during the third quarter valued at approximately $204,000. Toronto Dominion Bank increased its position in CenterPoint Energy by 451.5% in the third quarter. Toronto Dominion Bank now owns 12,392 shares of the company’s stock valued at $288,000 after buying an additional 10,145 shares during the period. KBC Group NV increased its position in CenterPoint Energy by 24.2% in the third quarter. KBC Group NV now owns 805,502 shares of the company’s stock valued at $18,712,000 after buying an additional 157,078 shares during the period. Finally, Bank of New York Mellon Corp increased its position in CenterPoint Energy by 2.4% in the third quarter. Bank of New York Mellon Corp now owns 6,705,152 shares of the company’s stock valued at $155,761,000 after buying an additional 154,622 shares during the period. 73.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CenterPoint Energy Inc. (NYSE:CNP) traded down 0.33% during mid-day trading on Tuesday, hitting $24.09. 3,963,224 shares of the stock were exchanged. The firm’s market cap is $10.38 billion. CenterPoint Energy Inc. has a 12 month low of $16.05 and a 12 month high of $24.71. The stock’s 50 day moving average is $22.89 and its 200 day moving average is $23.06.
CenterPoint Energy (NYSE:CNP) last released its earnings results on Friday, November 4th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. CenterPoint Energy had a positive return on equity of 15.00% and a negative net margin of 2.46%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the firm posted $0.34 earnings per share. The business’s revenue was up 15.9% compared to the same quarter last year. Analysts expect that CenterPoint Energy Inc. will post $1.19 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Wednesday, November 16th will be paid a $0.2575 dividend. The ex-dividend date is Monday, November 14th. This represents a $1.03 dividend on an annualized basis and a yield of 4.28%. CenterPoint Energy’s payout ratio is -245.24%.
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Several research analysts recently commented on CNP shares. Credit Suisse Group AG downgraded shares of CenterPoint Energy from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $24.00 to $25.00 in a research note on Tuesday, November 8th. They noted that the move was a valuation call. Guggenheim started coverage on shares of CenterPoint Energy in a research note on Thursday, November 3rd. They issued a “buy” rating and a $25.00 target price on the stock. SunTrust Banks Inc. lifted their target price on shares of CenterPoint Energy from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Monday, September 26th. Evercore ISI started coverage on shares of CenterPoint Energy in a research note on Monday, September 12th. They issued a “hold” rating on the stock. Finally, RBC Capital Markets set a $26.00 target price on shares of CenterPoint Energy and gave the stock a “buy” rating in a research note on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.02.
About CenterPoint Energy
CenterPoint Energy, Inc is a public utility holding company. The Company’s segments include Electric Transmission & Distribution, Natural Gas Distribution, Energy Services, Midstream Investments and Other Operations. Its Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.
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