Viking Fund Management LLC Buys Shares of 45,000 CenterPoint Energy, Inc. (CNP)
Viking Fund Management LLC bought a new stake in CenterPoint Energy, Inc. (NYSE:CNP) during the first quarter, HoldingsChannel reports. The firm bought 45,000 shares of the utilities provider’s stock, valued at approximately $1,382,000.
Several other institutional investors also recently modified their holdings of the company. Financial Architects Inc acquired a new stake in CenterPoint Energy during the fourth quarter worth about $28,000. PRW Wealth Management LLC acquired a new stake in CenterPoint Energy during the fourth quarter worth about $29,000. Claybrook Capital LLC acquired a new stake in CenterPoint Energy during the fourth quarter worth about $31,000. Sound Income Strategies LLC raised its stake in CenterPoint Energy by 793.7% during the fourth quarter. Sound Income Strategies LLC now owns 1,126 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 1,000 shares during the period. Finally, Parallel Advisors LLC raised its stake in CenterPoint Energy by 89.4% during the fourth quarter. Parallel Advisors LLC now owns 1,352 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 638 shares during the period. Institutional investors and hedge funds own 81.37% of the company’s stock.
Shares of NYSE:CNP traded down $0.07 during trading hours on Monday, hitting $30.50. The stock had a trading volume of 100,500 shares, compared to its average volume of 4,048,132. CenterPoint Energy, Inc. has a 1-year low of $24.81 and a 1-year high of $31.42. The firm has a market capitalization of $15.38 billion, a P/E ratio of 19.08, a PEG ratio of 3.53 and a beta of 0.46. The company has a current ratio of 2.13, a quick ratio of 2.01 and a debt-to-equity ratio of 1.37.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. ValuEngine lowered shares of CenterPoint Energy from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Wells Fargo & Co reiterated a “buy” rating on shares of CenterPoint Energy in a research note on Thursday, February 28th. Credit Suisse Group set a $32.00 price objective on shares of CenterPoint Energy and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, Goldman Sachs Group assumed coverage on shares of CenterPoint Energy in a research note on Monday, February 25th. They set a “buy” rating and a $34.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $31.60.
In other news, CEO Scott M. Prochazka sold 4,000 shares of the stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $30.72, for a total value of $122,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph John Vortherms sold 2,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $30.10, for a total transaction of $60,200.00. The disclosure for this sale can be found here. Insiders sold 132,000 shares of company stock worth $3,983,610 in the last 90 days. 0.24% of the stock is owned by company insiders.
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CenterPoint Energy Profile
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.
Further Reading: Momentum Investing
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