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.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Thursday, February 28th. The utilities provider reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. CenterPoint Energy had a net margin of 3.48% and a return on equity of 14.16%. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the business earned $0.33 earnings per share. Analysts predict that CenterPoint Energy, Inc. will post 1.64 EPS for the current year.

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.

TRADEMARK VIOLATION NOTICE: “Viking Fund Management LLC Buys Shares of 45,000 CenterPoint Energy, Inc. (CNP)” was originally published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this article on another website, it was stolen and republished in violation of US & international trademark & copyright legislation. The legal version of this article can be viewed at https://theolympiareport.com/2019/04/15/viking-fund-management-llc-buys-shares-of-45000-centerpoint-energy-inc-cnp.html.

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

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.