Migdal Insurance & Financial Holdings Ltd. Has $177,000 Position in CenterPoint Energy, Inc. (CNP)

Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 422.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,396 shares of the utilities provider’s stock after buying an additional 5,171 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in CenterPoint Energy were worth $177,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. boosted its position in shares of CenterPoint Energy by 18.9% during the second quarter. Oppenheimer & Co. Inc. now owns 11,129 shares of the utilities provider’s stock valued at $309,000 after buying an additional 1,771 shares during the last quarter. First Allied Advisory Services Inc. boosted its position in shares of CenterPoint Energy by 18.9% during the second quarter. First Allied Advisory Services Inc. now owns 11,719 shares of the utilities provider’s stock valued at $331,000 after buying an additional 1,865 shares during the last quarter. Amalgamated Bank boosted its position in shares of CenterPoint Energy by 3.5% during the second quarter. Amalgamated Bank now owns 55,555 shares of the utilities provider’s stock valued at $1,539,000 after buying an additional 1,885 shares during the last quarter. Northpointe Capital LLC boosted its position in shares of CenterPoint Energy by 2.0% during the second quarter. Northpointe Capital LLC now owns 98,431 shares of the utilities provider’s stock valued at $2,728,000 after buying an additional 1,927 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of CenterPoint Energy by 5.4% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 38,624 shares of the utilities provider’s stock valued at $1,070,000 after buying an additional 1,989 shares during the last quarter. 69.97% of the stock is currently owned by institutional investors.

In other CenterPoint Energy news, CEO Scott M. Prochazka sold 4,000 shares of the business’s stock in a transaction 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 legal filing with the SEC, which is available at this link. 0.22% of the stock is currently owned by insiders.

CNP stock opened at $27.65 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 1.06. CenterPoint Energy, Inc. has a 1-year low of $24.81 and a 1-year high of $30.17. The firm has a market capitalization of $13.86 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 2.96 and a beta of 0.43.

CenterPoint Energy (NYSE:CNP) last posted its quarterly earnings data on Thursday, November 8th. The utilities provider reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). CenterPoint Energy had a return on equity of 14.40% and a net margin of 15.15%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the prior year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts predict that CenterPoint Energy, Inc. will post 1.57 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 15th will be given a $0.2775 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $1.11 annualized dividend and a yield of 4.01%. CenterPoint Energy’s dividend payout ratio is currently 81.02%.

Several research analysts recently issued reports on CNP shares. JPMorgan Chase & Co. lifted their target price on CenterPoint Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, October 9th. ValuEngine raised CenterPoint Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Zacks Investment Research cut CenterPoint Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. SunTrust Banks reissued a “hold” rating and issued a $30.00 price objective on shares of CenterPoint Energy in a research report on Monday, August 6th. Finally, Wells Fargo & Co raised CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research report on Monday, October 8th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. CenterPoint Energy has an average rating of “Hold” and an average price target of $29.44.

TRADEMARK VIOLATION NOTICE: “Migdal Insurance & Financial Holdings Ltd. Has $177,000 Position in CenterPoint Energy, Inc. (CNP)” was originally posted by WKRB News and is the property of of WKRB News. If you are viewing this piece on another site, it was illegally copied and republished in violation of United States and international copyright & trademark law. The correct version of this piece can be viewed at https://www.wkrb13.com/2018/11/25/migdal-insurance-financial-holdings-ltd-has-177000-position-in-centerpoint-energy-inc-cnp.html.

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.

Featured Article: What are the components of an earnings report?

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).

Institutional Ownership by Quarter for CenterPoint Energy (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.

Leave a Reply