Tectonic Advisors LLC Buys 1,237 Shares of CenterPoint Energy, Inc. (NYSE:CNP)

Tectonic Advisors LLC increased its stake in shares of CenterPoint Energy, Inc. (NYSE:CNP) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,136 shares of the utilities provider’s stock after buying an additional 1,237 shares during the period. Tectonic Advisors LLC’s holdings in CenterPoint Energy were worth $607,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. First Horizon Advisors Inc. increased its holdings in CenterPoint Energy by 51.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,106 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 375 shares during the last quarter. GHP Investment Advisors Inc. raised its position in shares of CenterPoint Energy by 25.7% in the third quarter. GHP Investment Advisors Inc. now owns 2,047 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 418 shares during the period. US Bancorp DE lifted its stake in shares of CenterPoint Energy by 0.8% during the 3rd quarter. US Bancorp DE now owns 60,511 shares of the utilities provider’s stock valued at $1,780,000 after buying an additional 472 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in CenterPoint Energy by 53.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,392 shares of the utilities provider’s stock worth $44,000 after buying an additional 482 shares during the period. Finally, Metis Global Partners LLC grew its stake in CenterPoint Energy by 2.4% in the 3rd quarter. Metis Global Partners LLC now owns 20,538 shares of the utilities provider’s stock valued at $604,000 after buying an additional 484 shares in the last quarter. Institutional investors own 91.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CNP. Wells Fargo & Company raised their price target on CenterPoint Energy from $28.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Barclays lifted their target price on CenterPoint Energy from $29.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, January 27th. StockNews.com downgraded shares of CenterPoint Energy from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. Scotiabank raised shares of CenterPoint Energy from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $30.00 to $35.00 in a report on Thursday, December 12th. Finally, Guggenheim cut shares of CenterPoint Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, CenterPoint Energy currently has a consensus rating of “Hold” and an average target price of $31.46.

CenterPoint Energy Stock Performance

NYSE:CNP opened at $32.27 on Thursday. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.92. The company has a market capitalization of $21.03 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 2.62 and a beta of 0.95. The business has a 50 day moving average of $32.04 and a 200 day moving average of $29.89. CenterPoint Energy, Inc. has a 1-year low of $25.41 and a 1-year high of $33.12.

CenterPoint Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a $0.22 dividend. The ex-dividend date is Thursday, February 20th. This represents a $0.88 annualized dividend and a dividend yield of 2.73%. This is an increase from CenterPoint Energy’s previous quarterly dividend of $0.21. CenterPoint Energy’s payout ratio is currently 55.63%.

CenterPoint Energy Company 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.