Y Intercept Hong Kong Ltd Takes $907,000 Position in CenterPoint Energy, Inc. $CNP

Y Intercept Hong Kong Ltd bought a new stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 23,382 shares of the utilities provider’s stock, valued at approximately $907,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in CenterPoint Energy during the third quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of CenterPoint Energy in the 3rd quarter worth approximately $26,000. First Horizon Corp bought a new position in shares of CenterPoint Energy during the 3rd quarter worth approximately $30,000. Chung Wu Investment Group LLC bought a new position in shares of CenterPoint Energy during the 2nd quarter worth approximately $29,000. Finally, Ameritas Advisory Services LLC acquired a new stake in CenterPoint Energy in the 2nd quarter valued at $33,000. Institutional investors own 91.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CNP. Barclays dropped their price objective on CenterPoint Energy from $41.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Wall Street Zen cut shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a research report on Sunday, January 25th. Scotiabank boosted their price target on shares of CenterPoint Energy from $42.00 to $45.00 and gave the company a “sector outperform” rating in a research report on Friday, October 24th. BMO Capital Markets raised shares of CenterPoint Energy from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Tuesday, January 13th. Finally, Morgan Stanley reiterated an “underperform” rating and issued a $37.00 target price on shares of CenterPoint Energy in a research note on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, CenterPoint Energy presently has an average rating of “Hold” and a consensus target price of $41.82.

Insider Activity at CenterPoint Energy

In other news, Director Phillip R. Smith sold 6,200 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $38.83, for a total transaction of $240,746.00. Following the completion of the sale, the director owned 65,577 shares in the company, valued at $2,546,354.91. The trade was a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.14% of the company’s stock.

CenterPoint Energy Trading Up 0.2%

Shares of NYSE CNP opened at $39.67 on Monday. CenterPoint Energy, Inc. has a 1-year low of $31.95 and a 1-year high of $40.50. The company has a 50-day moving average of $38.66 and a two-hundred day moving average of $38.64. The company has a market cap of $25.90 billion, a PE ratio of 25.11, a P/E/G ratio of 2.35 and a beta of 0.59. The company has a current ratio of 0.51, a quick ratio of 0.38 and a debt-to-equity ratio of 1.76.

CenterPoint Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 19th will be paid a $0.23 dividend. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, February 19th. This represents a $0.92 annualized dividend and a dividend yield of 2.3%. CenterPoint Energy’s payout ratio is 55.70%.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc (NYSE: CNP) is a Houston-based regulated utility company that provides electric and natural gas delivery services and related infrastructure operations. The company’s principal activities center on the transmission and distribution of electricity in the greater Houston metropolitan area and the distribution of natural gas to customers across several states in the Midwest and South. As a vertically integrated utility, CenterPoint focuses on the reliable delivery of energy through owned and operated networks of lines, pipelines and associated facilities.

CenterPoint’s core businesses include regulated electric transmission and distribution services, regulated natural gas distribution, and the operation and maintenance of energy infrastructure.