900,000 Shares in CenterPoint Energy, Inc. (NYSE:CNP) Purchased by Teilinger Capital Ltd.

Teilinger Capital Ltd. acquired a new position in shares of CenterPoint Energy, Inc. (NYSE:CNP) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 900,000 shares of the utilities provider’s stock, valued at approximately $26,478,000. CenterPoint Energy makes up 7.9% of Teilinger Capital Ltd.’s investment portfolio, making the stock its 5th biggest holding. Teilinger Capital Ltd. owned approximately 0.14% of CenterPoint Energy as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNP. Crewe Advisors LLC purchased a new stake in CenterPoint Energy in the 1st quarter valued at about $25,000. Olistico Wealth LLC purchased a new stake in CenterPoint Energy in the 2nd quarter valued at about $33,000. Rothschild Investment LLC purchased a new stake in CenterPoint Energy in the 2nd quarter valued at about $33,000. FinTrust Capital Advisors LLC grew its holdings in CenterPoint Energy by 60.3% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock valued at $34,000 after buying an additional 452 shares during the period. Finally, Tobam purchased a new stake in CenterPoint Energy in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 91.77% of the company’s stock.

CenterPoint Energy Stock Down 0.6 %

CenterPoint Energy stock traded down $0.19 during midday trading on Thursday, hitting $29.92. 621,967 shares of the company were exchanged, compared to its average volume of 5,364,903. The company’s fifty day moving average price is $27.98 and its 200-day moving average price is $28.86. The company has a market cap of $19.14 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.56 and a beta of 0.92. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.20 and a quick ratio of 0.99. CenterPoint Energy, Inc. has a fifty-two week low of $25.41 and a fifty-two week high of $31.57.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.88 billion. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. During the same period in the previous year, the company posted $0.28 EPS. On average, research analysts predict that CenterPoint Energy, Inc. will post 1.62 EPS for the current fiscal year.

CenterPoint Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.81%. CenterPoint Energy’s payout ratio is currently 59.15%.

Wall Street Analyst Weigh In

Several research firms have commented on CNP. KeyCorp cut CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. Wells Fargo & Company lifted their price target on CenterPoint Energy from $28.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday. BMO Capital Markets reaffirmed a “market perform” rating and issued a $28.00 price objective on shares of CenterPoint Energy in a research note on Monday, August 26th. JPMorgan Chase & Co. lowered CenterPoint Energy from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $32.00 to $29.00 in a research note on Friday, August 2nd. Finally, Bank of America initiated coverage on CenterPoint Energy in a research note on Thursday, September 12th. They issued a “neutral” rating and a $29.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $29.91.

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.