Mirae Asset Global Investments Co. Ltd. Has $1.20 Million Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Mirae Asset Global Investments Co. Ltd. increased its stake in CenterPoint Energy, Inc. (NYSE:CNP) by 33.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 41,192 shares of the utilities provider’s stock after purchasing an additional 10,346 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in CenterPoint Energy were worth $1,199,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CNP. Crewe Advisors LLC acquired a new stake in CenterPoint Energy during the 1st quarter valued at $25,000. Rothschild Investment LLC bought a new position in CenterPoint Energy in the second quarter valued at about $33,000. Olistico Wealth LLC bought a new stake in shares of CenterPoint Energy during the second quarter worth about $33,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of CenterPoint Energy during the second quarter worth about $36,000. Finally, FinTrust Capital Advisors LLC grew its holdings in shares of CenterPoint Energy by 60.3% during the first quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 452 shares during the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.

CenterPoint Energy Trading Down 3.2 %

NYSE CNP opened at $28.58 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $18.63 billion, a P/E ratio of 18.93, a PEG ratio of 2.54 and a beta of 0.92. The business has a fifty day simple moving average of $28.81 and a 200 day simple moving average of $29.00. CenterPoint Energy, Inc. has a 12 month low of $25.41 and a 12 month high of $31.57.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Monday, October 28th. The utilities provider reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. CenterPoint Energy had a net margin of 11.25% and a return on equity of 9.73%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the firm earned $0.40 earnings per share. On average, analysts predict that CenterPoint Energy, Inc. will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Thursday, November 21st. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.20. CenterPoint Energy’s payout ratio is presently 55.63%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CNP. Bank of America began coverage on CenterPoint Energy in a report on Thursday, September 12th. They set a “neutral” rating and a $29.00 price target on the stock. JPMorgan Chase & Co. cut CenterPoint Energy from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $32.00 to $29.00 in a report on Friday, August 2nd. StockNews.com cut CenterPoint Energy from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Morgan Stanley lifted their price objective on CenterPoint Energy from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company increased their target price on shares of CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.09.

About CenterPoint Energy

CenterPoint Energy, Inc operates as a public utility holding company in the United States. The company operates through two segments, Electric and Natural Gas. The Electric segment includes electric transmission and distribution services to electric customers and electric generation assets, as well as optimizes assets in the wholesale power market.