Tectonic Advisors LLC Has $527,000 Stock Holdings in CenterPoint Energy, Inc. (NYSE:CNP)

Tectonic Advisors LLC lifted its position in CenterPoint Energy, Inc. (NYSE:CNP) by 9.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 17,899 shares of the utilities provider’s stock after purchasing an additional 1,475 shares during the quarter. Tectonic Advisors LLC’s holdings in CenterPoint Energy were worth $527,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Crewe Advisors LLC acquired a new position in CenterPoint Energy in the first quarter valued at about $25,000. Rothschild Investment LLC bought a new position in shares of CenterPoint Energy in the second quarter valued at approximately $33,000. Olistico Wealth LLC acquired a new position in shares of CenterPoint Energy in the 2nd quarter worth approximately $33,000. Strategic Investment Solutions Inc. IL bought a new stake in CenterPoint Energy during the 2nd quarter worth approximately $36,000. Finally, FinTrust Capital Advisors LLC increased its holdings in CenterPoint Energy by 60.3% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,201 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 452 shares in the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.

CenterPoint Energy Trading Down 0.6 %

NYSE CNP opened at $29.31 on Friday. CenterPoint Energy, Inc. has a 12 month low of $25.41 and a 12 month high of $31.57. The stock has a 50-day simple moving average of $28.51 and a 200 day simple moving average of $28.94. The company has a current ratio of 1.20, a quick ratio of 0.99 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $18.82 billion, a PE ratio of 18.20, a P/E/G ratio of 2.58 and a beta of 0.92.

CenterPoint Energy (NYSE:CNP) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. CenterPoint Energy had a return on equity of 10.81% and a net margin of 12.28%. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the business posted $0.28 EPS. Research analysts forecast that CenterPoint Energy, Inc. will post 1.62 EPS for the current year.

CenterPoint Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.21 dividend. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, November 21st. CenterPoint Energy’s dividend payout ratio is 49.69%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. BMO Capital Markets restated a “market perform” rating and set a $28.00 target price on shares of CenterPoint Energy in a report on Monday, August 26th. JPMorgan Chase & Co. cut shares of CenterPoint Energy from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $32.00 to $29.00 in a research report on Friday, August 2nd. StockNews.com lowered shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Bank of America began coverage on shares of CenterPoint Energy in a report on Thursday, September 12th. They issued a “neutral” rating and a $29.00 price target for the company. Finally, KeyCorp downgraded CenterPoint Energy from an “overweight” rating to a “sector weight” rating in a report on Friday, August 2nd. Two 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’s stock. According to MarketBeat, CenterPoint Energy currently has an average rating of “Hold” and an average target price of $29.91.

CenterPoint Energy Profile

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.